The Power of a Quote
He said, “Raise your price. Make it ridiculous. That would make people perceive it as value.” ~Robert Kiyosaki
The power of a quote should never be underestimated. Sometimes quotes serve as simple inspiration, allowing individuals to find motivation or maintain a positive attitude in turbulent times. Other times, quotes change the direction of lives by inspiring new careers, changing bad personal habits, and helping put importance on things that truly matter. Quotes can also transform the mindset of an individual so they fundamentally see the world differently than they ever had before.
Anyone who has read a book in the Rich Dad series has most likely found a quote that was highly influential in their life. The Rich Dad works are not simply a guide to building wealth. The philosophy that serves as the foundation of Rich Dad not only addresses ways to increase one’s financial literacy, but also speaks to human nature itself. Quotes that are derived from this philosophy can be transformational in nature, if one simply takes the time to absorb their meaning.
Quotes, by their nature, are often brief. Their brevity draws a reader in, but too often, the short time spent reading the quote is the only time invested. A reader may read the following quote from Robert Kiyoskai:, “The most life-destroying word of all is the word tomorrow,” and think, “How true that is!” After the few seconds it takes to read the quote, the reader has had their moment of affirmation, and then moves on with their thoughts. While this may serve the purpose of inspiring the individual to maximize that particular day, the transformational value of that quote may be lost on an individual who doesn’t take those few extra minutes to reflect on the quote.
Examining the deeper meaning of quotes can be an entertaining and rewarding exercise. You likely have quotes that you already enjoy or are inspired by. Take your favorite quote, and spend a few minutes contemplating how it applies broadly and analyze how it applies to the strengths and weaknesses you have as an individual. Uncover the meaning of the words and phrases within that quote to uncover additional insight that might apply to you. The following exercise is just one writers attempt to find deeper meaning in the quote, “Raise your price. Make it ridiculous. That would make people perceive it as value.” If you spend time contemplating this quote’s meaning, you are likely to glean additional insight. That is the beauty of the written word, and the power of meaningful quotes.
“Raise Your Price.”
On the surface, this seems like the most straightforward part of the quote. If you charge a certain price, the simple task would be to increase that price. However, when you think about it, you may ask why you originally set that price in the first place? What made you sell the good or service you are providing at a price that needs to be raised? Why didn’t you instinctively set a price that didn’t need to be raised?
Convention is a likely suspect. A person might think, “tThat’s the going rate.” It is easy for individuals to look around at similar goods and services, and set their prices at levels that would make them competitive. This could be due to a lack of originality, or perhaps even a lack of faith that what they offer is not better than their competitor’s’ similar offerings.
What an individual believes their time is worth can be influenced by the occupation and jobs they have done in their careerslife. At some point, an employer told them that their work was worth a certain amount, and this mindset stuck. Their time had always been worth the “going rate,” so what would be different about their new work now? This individual runs the risk of judging their ongoing worth simply based on the past categorization of one individual or company. Our time and creativity is worth far more than another person’s opinion.
There are many potential causes for why you might have your price set at the level it currently is. Whatever that level might be, the call to action in the quote is simple. Raise them!
“Make it ridiculous.”
While “Fortune favors the bold” is a quote to examine at another time, it is most applicable here. It is easy to get trapped in a negative mindset when thinking of your worth in ridiculous terms. This mindset creates words and phrases like “unrealistic” or “nobody will pay that.” The ridiculous mindset tells itself, “Damn right I am worth that.” Remember, the quote reads, “Fortune favors the bold,” not, “Fortune favors the reasonable and practical individual.”
Ridiculous. That word will conjure up a different number for each individual. Here’s a rule of thumb:, when you think of a ridiculous price, the first number you think of is probably too low. Be bold. You are that good.
“That would make people perceive it as value.”
A few years back, a painting by Jackson Pollock titled No. 5, 1948, was reported by the New York Times to have sold for $140 million. Another paining, Woman III by Willem de Kooning, sold around the same time for $137 million. Search online for original paintings done by lesser known artists, and you can find thousands of such paintings for under $100 dollars each.
While you might find it outlandish, (i.e. ridiculous), that a particular painting sold for $140 million, the price of the painting sparks curiosity. You might search online to find more about it, or contemplate why a person would pay that much. The bottom line is, these paintings did sell for these sums, and on some level, you now attach tremendous value to works of art that you may never have heard of before. You might not like the paintings, but you still attach value.
This perception goes far beyond the artistic world. Assume a person meets two different people of the same profession at a cocktail party. One of these individuals charges $25 an hour for their services, and the other charges $300 an hour. An instant impression is made. A normal reaction is that the person that charges $300 for their services must be significantly better at their chosen craft than the other. This might not reflect reality, but that is inconsequential, as that is the perception that has been created.
In our society, the “best” is not always judged by a fair standard, as sometimes it is simply determined by price. When people feel that they have hired the best, they will always associate value with it. Start telling yourself that you are worth it, and don’t be surprised when others start seeing you that way.
The quote examined here has fourteen simple words, but carries powerful meaning. It speaks to our self-worth, societal norms, the nature of constructed reality, and can be applied in countless ways to individual circumstances. The next time you run across a quote that catches your eye, take a few extra minutes to think about what you just read. You will be surprised at what you discover.