A Quote by Stephen Shapiro on business, value, and cost

In your life, how do you determine what you are willing to pay for goods and services? Is it based on what you paid in the past? Is it determined by how much money you have in your bank account? Or is it determined by the “real” value you receive?

In your business, how do you determine what you will pay your employees or consultants? Is it based on market rates (which may or may not be a determinant of value)? Is it based on your budget? Is it based on what you paid your last consultant? Or is it based on the “real” value you receive?

Don’t be fooled. Value and cost are not related. Stop being a cynic. Determine the value of everything – and decide what you pay based on that.