The Price of You: How to Build Your Value and Charge Prices Like the Top 1%

By M.C. Wentworth

"[Following the financial crisis], some 95% of 2009-2012 income gains went to the wealthiest 1%"--The Wall Street Journal

You've heard about million-dollar football contracts. You scoff at CEOs making tens of millions per year. You know that Warren Buffett has made billion-dollar trades with companies

• Language: English
• Publisher: 11:59 Publishing, LLC
• Release date: Aug 9, 2023
• ISBN: 9798869090904

Book preview

The Price of You

How to Build Your Value and Charge Prices Like the 1%

M.C. Wentworth

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Contents

Chapter

Introduction

1.The Wealthy Transact in Value

2.The Most Prolific Football Player In The World

2. Net Worth: $250 Million

3.How the Value Economy Came to Be

4.The Most Successful Tech Entrepreneur In the World

4. Net Worth: $123.6 Billion

5.The New Value Economy of the 20th and 21st Century

6.The Most Successful Investor in the World

6. Net Worth: $90 Billion

7.The Fine Line of Value Theory

8.Understanding Your Value

9.Becoming a Member of the 1%

A Message from the Author

Bonus

Acknowledgements

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By reading this document, the reader agrees that under no circumstances is the author responsible for any losses, direct or indirect, that are incurred as a result of the use of the information contained within this document, including, but not limited to, errors, omissions, or inaccuracies.

Introduction

My step dad could never understand how American football players make millions of dollars a year while hardworking people like tradesmen and doctors made less.

It’s probably something that you also wonder about. What are football players doing that makes them earn so much? What exactly are they doing that you can’t do? Why are they paid that much for running around on a field?

I was curious, which pushed me to study economics and learn about value theory.

Value is one of the most misunderstood concepts in the modern age, but the concept of value can explain the tremendous increase in the number of wealthy people around the globe. Most wealthy people realize that the reason they are wealthy is because of their exceptional value. It has a lot to do with what they are willing to give to the public, which some people do not understand. It is difficult for some people to understand the link between value offered and the wealth it generates, but this knowledge is now available to everyone willing to read and learn.

Therefore, instead of asking why someone is rich or being paid so much, ask yourself what value that person is offering. What value has this person created to be this wealthy? That is the first step towards understanding personal value. The mindset that rich people do not deserve the money they have, or that you are more deserving than them, is not one you want on this journey. It would be precarious to move on with this manner of reasoning. You have to understand that having a skill is essential and contributes to a person’s worth. The value placed on skills differs as it depends on the skill, but every skill has its worth and value in the market. You have to be willing to seek value that can be added to yourself. A person without value is a poor man, while a person with value is a wealthy man.

Before you read this book, be open to absorbing all the anecdotes of value. You will learn about the ascensions of famous people. You will learn about value in historical contexts. You have chosen this book because you seek wealth, and that is mainly where your focus should remain.

This book will explain the concept of value and how it is not limited to business alone, but it also affects your personal goals. When you understand your value, you can further leverage it to enhance yourself, get better pay, search for a better job, and even acquire skills that make you in high-demand. The value economy is a frame of mind, and when you can look at people from that point of view, you will be able to rise above your competitors and build the wealth you desire.

A perfect example to illustrate the value economy is Warren Buffett, an investor Coca Cola beginning in the 1980s. As you probably know, Coca Cola ranks as the one of the world’s largest and most valuable modern brands, however this was not always the case. During the 1980’s, Coca Cola struggled with several marketing and product failures, such as the branding of New Coke. Buffett saw through the temporary turbulence, noting that the company had a strong history of wise leadership and invested heavily. Today, Buffett’s investments in Coca Cola contribute a considerable percentage to his wealth.

Towards the end of this book, you will have a deep understanding of value theory. You will see a glimpse into the minds of multi-millionaires and billionaires who adopted this mindset. The purpose of this book is to compel you into shifting to the way the wealthy view the world.

Understanding the concept of value is most beneficial when applied to everyday life. The faster you absorb and practice it, the faster it broadens your skill set and improves your market competitiveness.

To think like the rich, you have to study the wealthy. After studying the wealthy, you don’t just forget what you’ve learned and return to your normal lifestyle. You entrench the values deeply within yourself and become one of them.

Wherever you are financially or career-wise, learning about value can ignite a flame and shake your perception of how money moves. It can alter your career path, affect your future decisions, and set you up for drastic changes further down the line.

This book will answer those concerns you can’t seem to get over on how the affluent have what they have. The end of this book will see you to the beginning of a new life. It will be a brand-new start.

Chapter one

The Wealthy Transact in Value

What Is the Value Economy?

The applications of ‘value’ are multifaceted and understood in different senses, namely: religious, moral, social, economic, etc. It is precisely in the economic sense that this book employs the term. In economics, value is considered a form of power that either a commodity or an individual possesses. Classical economists understand the word ‘economy’ as the systems of production and distribution of goods and services that satisfy a consumer’s need.

In this book, the value economy is a system that rewards effective products and ideas with innate monetary worth. Any product or idea in the value economy will be created when consumer demand exists, and supply can fulfill. Put another way, the value economy can deal in human capital, where the worth of a person’s economic output determines whether that person will be highly rewarded in terms of wealth or not. Most people think linearly: I work one hour, I make $20 when they need to understand I have a valuable skill. I’m paid partially for my labor and partially for my expertise in my field. In this book, it is understood that the economy treats people like commodities. Everybody’s labor has a baseline monetary worth stipulated to be no less than a country’s minimum wage. Still, beyond that, it is those whose work is most valuable that are compensated the most. To better understand how to use the knowledge of value economy in your favor, you also need to be familiar with fundamentals such as production, distribution, supply, and demand. If you feel comfortable with those basic concepts, begin by reading the section Why Value Isn’t Taught in Business School.

Production and Distribution

Production and distribution are essential components of understanding value theory. They constitute the two vital processes that must occur in creating a product intended for consumption. Through production and distribution channels, raw materials have value-added, and products become usable and available to consumers.

What is production?

Production is the creation of valuable goods and services that satisfy a need. Production is a process of creating goods and services that possess utility. Hence, the definition of production is the creation of utility (Ande, 2012). The production process is the totality of economic activities involved in the creation of utility. In economics, there are two broad categories of production, namely, direct and indirect production.

Direct production is the type of production in which an individual produces goods or services for the sole purpose of family consumption. In this case, the goods or services produced are not for sale; instead, the individual making them and their family consumes the product. The goods and services produced in this category are usually minimal in quantity. Also, the scope of labor employed at this production stage is generally limited to a handful of people.

In Indirect production, the producer or manufacturer embarks on the production of goods or services in large quantities for the sole purpose of selling the goods or services produced or exchanging them for other needs. It is generally understood that most products are not directly sold in their natural, unprocessed forms. You wouldn’t go to the grocery store and find a farmer with