The Great Debate: Cost vs. Value

In one of my other lives, I wrote a blog post which touched upon the issue of cost vs. value.

…the cost vs. value debate. I define cost as how much you pay and value as the worth of how much you get for what you pay.”

This is an important distinction, and people tend to stop listening at the sound of the cost, without considering the value of the amount.

cost = expense / expenditure
value = expertise / experience

If they’re anything like me, most people who sell their products, goods and services likely agonize over how to fairly set their prices based on the value of their skill set.

If someone has the expertise to efficiently accomplish your tasks, sparing you time for other priorities, what would that be worth to you? The value has the potential to save you time and money, and that is a result greater than the cost.