Something really got me laughing the other day.
See my friend joined us for an investor meeting, but he’s not much of business guy. In fact, he was a bit out of place an as aircraft engineer amongst the more experienced investors; one of them being my dad.
So as the meeting progressed one thing was clear: nobody liked the asking price of this particular business takeover.
Most of the business’ price was under that all-elusive term ‘good-will’…
and in the heated price negotiation, I observed a conversation between my friend and my dad:
“I don’t understand, what is the actual price of this business?” my friend asked.
He wasn’t happy with my dad’s answer: “That depends on what we value it to be.”
But the poor guy still didn’t get it. He wanted something more concrete so he thought of an example to put his point across.
“I don’t see the big deal. For example, how much would you pay for a single Rolls Royce Turbo Fan Aircraft Engine?”
“hmm, I’d pay 6,000” my dad replied.
“Try 160,000!” my friend smirked. “You see? You have to know the industry, then you can put a better figure on it.”
I could see what he was tying to say. Value needs a frame of reference and depends on comparison right? Otherwise we’d have no clue what the value of something was, like ‘real estate’ for example.
A valid point. But I think my dad’s response was even more acute:
“Perhaps…but I don’t really want a fan engine.”
And that’s all business is isn’t it?
At the end of the day what do you value and how much would you pay for it?
Well if you value the influx of traffic YaghiLabs can get you, then you can’t put a price on the DFYT package we offer.
How much do you value the time you’d spend figuring out, training yourself, and then keeping up with the latest search engine trends?
What price would you give to having access to a full team of specialised business staff that have already used a proven system for years?
If you are really honest about how much you value these things, you’ll be surprised at the price of our services!
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