Cost vs. Value: Would You Spend $25,000 To Grow Your Photography Business?

Around the world, most people think with their pocketbooks instead of realizing the impact something could have on their futures.

They focus in on the cost of everything that is presented to them, instead of on the value the item presents to their lives.

For instance, if I said you have the opportunity to spend one week with the top minds of the world, learning all you can about business and improving your life, but it came with a price tag of $25,000 for the week, what would you focus on?

The chance to spend one on one time with brilliant minds that have grown major corporations?

Or the fact that there is no way you could ever afford $25,000?

Would you concentrate on the value you would receive from spending time with people that have succeeded at everything you’ve ever dreamed of?

Or would you concentrate on the cost of the program?

Don’t worry, you’re not alone.

I have spent thousands of dollars to attend seminars in the past, and when I talk about them with family and friends, the response is predictable:

“What, are you crazy? How could you spend THAT much?”

Because they are so focused on the costs, they miss one crucial point.

You can’t learn million dollar strategies from someone who has never made one million dollars. You can’t learn successful business strategies from someone who has never built a successful business. And you can’t learn successful lifestyle strategies from someone who doesn’t have the lifestyle you are trying to emulate.

So when I see someone holding a multi-thousand dollar event, I look at it and say, “Hmm … I wonder what they know that I don’t?” I look at the people in attendance, their reputations, their resumes, and what they have to offer to the group.

While the big price tag of $25,000 probably got your attention, the same holds true no matter what the price tag. People have different thresholds, and while some declare $25,000 to be outrageous, for others it might be $500, or even $50.

One person may say, “OMG, you paid $1,000 for that? Really? I’ll give you “advice” for half of that, give me $500 and I’ll tell you everything I know, wink wink.”

But a smart person knows better. “If this training teaches me one important tip that will help me generate $1,000 into my business next month, I could keep earning that $1,000 for the life of my business.”

2 thoughts on “Cost vs. Value: Would You Spend $25,000 To Grow Your Photography Business?”

  1. Not sure I agree with this. Yes, price should not be the first thing you look at. That is the thing I tell clients at my studio, but it also holds true with anything. If you find clothes you like, you like them first then look at the tag.

    However, conferences and seminars are not the same as clothes and even photographs. There is no tangible product to look at and judge. I have been to enough seminars now that I am seeing repeated themes and advice. I didn’t know that was what I was getting myself into before I started, but there it was.

    I also wonder about judging someone on their accomplishment in their field. Can you say that someone runs a successful, money making business if part of that money making business is giving seminars on creating a money making business?

    Reply
    • Yes, because that is the natural progression for experts. When they get big enough in name through their profession, they turn to teaching to help others in the field because of what they’ve accomplished along the way.

      Occasionally you’ll see an “expert” with no experience in the field (such as photography) but tons of experience in a related field (such as marketing). The key to relying on the word of any expert is to see where they are coming from, and how you can use their materials to benefit and grow your own business. One great idea, even if you “know” everything else can be worth the price of admission.

      Reply

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