Refuse to be Cheap

Nostalgic experience from a not-so-distant past

I dug up on some of my work in the past years. And in 2017 I was running a digital magazine (Rich Culture) just to share with friends and those willing to learn. Today I was reading some of what I wrote then and it is still powerful and instructive.

I will share with you the welcome note and the first article that is titled Refuse to be Cheap. This is a bit nostalgic for me and I believe you will learn from it.

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Welcome Note

I don't like a hard life. I hate suffering. I utterly dislike the life of struggle and sweat. My question to you is, can you say the same? What you tolerate, you cannot change. What you can endure, you cannot remake. What you can put up with, you cannot stand up against.

Poverty is eliminated by the introduction of prosperity. Prosperity (in any community) is the recognition and celebration of value. Value is anything, system or process that makes life easier and better (meaning, anything that saves time, energy, costs or increases effectiveness). Where value is not recognized or where insignificant importance is placed on (true) value, poverty reigns.

This magazine is called Rich Culture for a reason. There is a certain culture that goes along with being rich. In this magazine, we do refer to people who have excess money as wealthy (generally). But we specifically define rich as people who have created value or who are (significantly) part of the creation of value. Hence the saying, to be rich is to be relevant.

The culture of the rich is what determines how wealthy the rich get. Yes, you have to create value or be (significantly) part of the creation of something of value. But also, you have to be educated to effectively control and sustain what you create. Rich Culture is about refining the mind to receive, maintain and sustain prosperity.

You don't have to decide to be poor but you have to deliberately decide to be rich

The words are simple and straightforward as always. You might want to read each section more than twice. Remember, life does not excuse you for what you don't know. The more you know, the better your advantage. I hope this inspires you to make better decisions for your life in the days and weeks ahead. Cheers

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Refuse to be Cheap

There is a very interesting rule in negotiation. It says that whoever mentions price first loses. This is very true on flexible business deals. But in a lot of transactions today, the seller sets the price ahead of the buyer. The seller is expected to set the price based on the worth of the product. The worth of the product is greatly influenced by its use. The use of the product or what the product does determines who comes for it, or so people think.

Critical consumer behavior research shows that the price of a product determines its buyers. A car is just a machine that transports people and goods from one place to another, yet there are cars sold for $1,500 and those sold for $1.2M. The issue that one car will get you there faster is almost a mirage because of the reality of city life and the need to obey traffic rules. But definitely, the experience in and with the $1.2M car is very different from even a $25,000 car. The bottom line is:

Your price chooses your buyers in a very special way

Perhaps, you are a relevant person and you're part of a productive venture but the reality of the wealthy life still looks far away from you. And now you are wondering, 'what is wrong with me?' The problem is not with you on the level you are now, but it is with a decision you have made in the past. That decision has brought confusion to your focus in life. That decision is what you chose to do to be a responsible member of society.

If you believe you're doing what you should be doing, then the problem might just be the lack of knowledge of how to create wealth. If you are going to be wealthy in life, you have to be stubbornly unwilling to be cheap. The decision to be wealthy is a direct product of the stubborn unwillingness to be cheap.

All wealthy people have this in common; they are not cheap

Not everyone who is not cheap is wealthy, but everyone who is wealthy is not cheap. What does this mean? Does it mean you should increase the price of your product or service incessantly? No, that is not what this means. Firstly, if you do that, you can kill your market and market reputation in one day. And secondly, it may create a backlash that you are not ready to face.

Not to be cheap is to have a standard and keep to the standard no matter what happens. Your product or service must have a measurable standard of quality that never tilts. The reason is:

If you do cheap, cheap people will come to you

Cheap people are people who cannot grow bigger, wealthier. If they are your customers, your business will not move forward. This is different from selling a product designed for low-income earners. The products for low-income earners are specifically designed to the standard of low-income earners.

 There was a time in history when business was conducted with gold and silver coins. Whenever fake coins (that is, a cheap version of the original) starts to flood the market, the good coins go into hiding (meaning, they become rare). Before poverty becomes a reality, cheap became the new order.

If you are cheap, you cannot be wealthy. If you find yourself in some wealth one way or another and you choose to be cheap, you will descend into poverty. This is why it matters for you to maintain your quality. Cheap attracts cheap. And a community of cheap people will always be overwhelmed by poverty. Be stubbornly unwilling to be cheap.

The first benefit of the unwillingness to be cheap is that people who will patronize you will be of the same heart and mind. That alone is a long stride forward and just the beginning of a long list of benefits. Your customers will be people who can and will move forward even as your business grows. This doesn't mean you don't sell to low-income people but you sell something designed for them to them. Separate your products by consumer appeal.

Refuse to be cheap. Don't be unnecessarily expensive rather, have a standard you stick with. Name your price and let the world see why.

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I am still amazed by how much richness is in those words.

Till next time,

- David.