August 25, 2017

How To Maximize Your Purchase (Extract & Create Value)

None of us needs to buy anything. Aside from rent, food, insurance, and gas, anything else is a want.
So why do people have so many things when they don't need it?
It's because people feel that they want it. And eventually they feel like they need it. But they don't.
And a bunch of these morons are tightening their shackles to debt. 
For example, go drive on the freeway and you will spot new cars left and right. Wow, look at that brand new 2017! Gee don't you wish you had one too?!
Well guess what? Only 15% of all the cars you see are paid off.
Who cares what year or model it is? They all do the same thing. Get you from point A to point B.
If purchasing a car is a necessity for you to make a living, it's understandable. 
But if you're trying to upgrade to a newer model when you already have a car that gets you where you need to go. Then you're doing it to look like one of the cool kids. 
Honestly, who gives a shit what you're driving?

You may not decide the value of your currency,

but you can decide the value of a product

If you asked me how much of my money do I think an iPhone is worth, off the top of my head I would say $1. Because that's how much it's worth to me.
For what I really think it's worth, I honestly wouldn't want to pay more than $80. 
Ridiculous right? Well that's how much I perceive its value.
Now everyone else who buys it really does believe that it's worth several hundred dollars. I do not.
Unless I find one at $80, I don't care to buy one. Otherwise, I put my value into other things.
Point being, the true value of a product is the price we're willing to buy it at. And the price you're willing to buy is based on how much you feel you need it.
A dollar is only a piece of paper. It's value only comes from everyone's faith in it as a currency. Since you're part of a society and economy, you're stuck with just about the same value everyone else gives it.
The value of products however is different because it isn't currency. 
As a consumer you decide its value and how much it is worth.
Businesses sell you products at their ideal prices. But you have no obligation to live up to anyone's ideals. As a consumer, you have the power to find the product at a price more ideal to you.
The same applies to social value. If someone pulls up in a Mercedez-Benz it's up to you to perceive if that person is valuable.
Considering that the car isn't paid off, I would argue that the person is a liability. In the red. 
Shackled by debt and enslaved to look cool for strangers.

To Maximize Your Purchase,

Create Value Out Of Your Purchase

You go out to buy some lunch. Let's say the meal cost $25 and it was only okay.
How do you maximize the purchase? Simple. 
Start off by taking a picture of the meal. Now you have a meal and a picture. 
Next get some raw footage of the meal. Now you have a meal, picture, and a video.
For $25 you got three things instead of one:
  • Meal
  • Picture
  • Video
If you want to be optimistic, you can say every thing listed above is worth about $8 each.
But let's go even further and use that raw footage to create a Review video to post on YouTube. 
Now not only have you pulled a lot of value out of your single purchase, you made your $25 purchase into an asset.
Then you upload the content. But how would you market it?
Think. Where would it be most appreciated?
A food review will be most appreciated on a website like Yelp.
You type up a short review for Yelp, then you include a link to your video. That way, Yelp is marketing for you. 
Meanwhile, you're marketing for the restaurant and the food that you bought.
It's a win-win-win for everyone because you created that review.  Which can also bring you potential profit through YouTube views.

The ultimate way of maximizing a purchase is by turning it into an asset

Can you do that with everything? Well that depends on the product. 

If you buy a product that you like, you can write about it on your website and refer people to that product. And with an affiliate agreement you can make commission money off of each sale.

Create value from your purchases, or give your purchases value
Take pictures of your vacations to maximize your travel's value.  Then if you have any great looking pictures of yourself, post it somewhere that increases your value. 
For example, post it to your online media. Because if you look grand online, people will assume that you're grand in real life
And look your best in every image. Because you're not just representing yourself, you're representing your personal brand.

Final Checkpoint

From now on, consider every purchase you make as a Self-Investment. And think how you can extract and create value from your purchase.
Because you no longer only take value
You also create value
That's the secret to maximizing your purchase



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