My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
“people buy value not price”
What It Means
Customers make purchase decisions based on perceived value rather than lowest price
Why It Matters
Explains why premium pricing can work and why competing on price alone often fails
When It's True
In markets where buyers can distinguish quality and value differences matter for outcomes
When It's Risky
In pure commodity markets or when buyers cannot evaluate quality differences
How to Apply
Focus on creating genuine value rather than competing on price
Understand what specific value your customers derive from your product
Position your offering based on value delivered rather than features or price
Example Scenario
“Van Trump Report charges $600/year while free agricultural information exists because it provides genuine trading edge that creates value for subscribers”