**Date Created** — 20230123- **Author | Presenter** — [[Ron Baker]] and [[Chris Do]] ## My Notes - https://youtu.be/TB54_6bEP-A - Subjective theory of value * there is no such thing as intrinsic value -- everything is subjective * Cost does not determine price, price justifies cost * businesses go bankrupt because price is subjective -- it has nothing to do with the effort to create an item * Cost plus pricing assumes the world owes you a living -- i have costs and i deserve a profit -- an entitlement mindset -- in the free market you have to produce value -- what have you done for me lately * Brands represent a promise * Pricing sends signals * your brand can only stand for one thing - stop trying to be expensive and mcdonalds -- stop trying to be all things to all people * Tim Williams - what happens in Vegas stays in Vegas * Prescription without diagnosis is malpractice * You have to understand what they want and what they are experiencing before you offer a solution and price appropriately * You need the 'value conversation' * pricing based on outcome or transformation * Peter Drucker -- if all we are doing is solving customer problems, we are just reverting back to status quo - we are not progressing or helping them move forward * We help out clients achieve their dreams * have to offer customer options --change frame from 'should i work with chris' to 'how should i work with chris' * Hassle Free Home Services * firm of the future paul dunn * thesoloventureprise.com * john warlow automatic customer * robby something baxter memnbership economy * forever transaction * subscription marketing * dr paul thomas ## Quotes --- **Tags** — [[literature-notes]] , [[youtube]], [[marketing]] , [[sales]] , [[signalling]] , [[client-service]] , [[psycho-logic]] , [[alchemy]]