How do you value something?
In this episode, we discuss how to value something. Mike changes Scott's mind on "buyer's remorse" and we walk away with an important conclusion on how to value products and services...
SPOILER ALERT - Value is individual and maximized scenarios don't exist outside of an auction environment.
How do you value something:
1a. How much will someone pay for something?
1b. How much is the next person willing to pay?
2. What are you willing to sell for?
Defining seller's regret as it relates to points 1 & 2 listed above:
1. Feeling that someone was willing to have paid more.
2. You didn't get the value you wanted in the transaction.
Point #1 is typically greed driven.
Point #2 is rare because we are often able to walk away if our value isn't there.
Let us know what you think and join the conversation: