What is Value? How To Create $100 Million in Value? — Exponential Economy #17 (Video)
In this episode of the series Exponential Economy I explain what value is, how to compute it and how you can use it in your business to create a value of 100 million dollar and more.
Watch this video:
Video transcription:
Hi today and welcome to the next episode in the series “Exponential Economy”
Today I will be telling you about value — what is value
and I will give you the value formula that helped a friend of mine
to go from zero to $100,000,000
What it is and how it works, you will find out after the break. See you!
What is value? How do you define value and how to create a bug, huge value
and of course, make a lot of money
The value formula goes like this
Value is equal to utility times people divided by quantity
What does it mean?
Utility is the need for your product, for your service, the usefulness of your product, of your service
How useful it is? How needed it is? How strong people need your product, your service.
The second part is the people, meaning the more people need your product, your service
the more people you can reach with your product, with your service
the more value you create
and the third part of the value formula, which is the denominator, is the quantity of your product
meaning the more unique your product is, the more valuable it is
and of course, the more common it is, the more pieces, the more copies you can create
or you have created of your product
the less valuable each of these copies is
and this is just a corollary you would say of the supply and demand formula in the economy
because the price is the consequence of supply and demand
and the value is also a consequence of supply and demand on one hand
but also of the utility, of course, of your product
and this is also a corollary of the supply and demand relationship
the number of people who need your produt, your service, is the demand side
the more demand, the higher the value of your product
The number of copies, of units of your product, the quantity is the supply part
the more supply, the lower the value
and of course, the better, the higher utility, the higher the value
And how can you now use that formula, how did my friend use that formula
to create a huge value of over $100 milion?
You can see which part of that formula you can influence, what is the easiest to influence?
Can you for example multiply yhe utility of what you provide by 1000 times?
Is it possible? It is extremely difficult
WHat is much easier to influence is the number of people who you address, who you reach
And this is generally your range, your marketing that you can scale
Let’s say you start with offering that product to one person, you can scale your income or you can scale your revenue by 100 times
by offering that product to 100 people and you can further double your revenue by offering it to 200 people
or you can then do it one more time tenfold by offering to 2000 people, and so on, and so on
So, this is the part of the equation that you can influence the easiest, the other part would be maybe the quntity of course
if you do one masterpiece, it is extremely valuable but you need to credibly show to the customers that this is really that valuable
and that this is not copyable, so it is much more difficult of course to sell 1 piece of a masterpiece of something
than to sell something on mass, in great amount
So, this is generally a very simple concept, that had humongous consequences for the wealth of a friend of mine
who created over 100 milion dollar fortune out of nothing, just by consequently applying this formula
I invite you to comment this video below, how you can apply this formula in your business, maybe in your life?
And give me some examples from your life, maybe some ideas, how you can differently use that formula?
If you liked this video, give me a thumb up, if you didn’t, thumb down. Subscribe if you haven’t
Share this video with your loved ones, with your friends, one day they will thank you for that.
I talk here a lot about busienss, about doing great, impossible things in your life and busienss, how the best entrepreneurs in our world think and act
How the self-made billionaires of our world think and act, I talk here about economy, about money, about cryptocurrencies as well
So, if you liked this video, you will certainly like my other videos, I invite you to watch them, that’s it for today
I wish you a fantastic day, let’s do something extraordinary today
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