Don't chase money. Chase value. What does this mean?

[King Belieal]

One of the biggest advises for entrepreneurs is that they should chase value and not money. What does this really imply? Does it mean that they should not charge money for their products or services? How does an entrepreneur chase value?

 

[Augusta]

it means that When the primary goal is wealth, individuals might be tempted to cut corners, compromise on quality, or engage in unethical practices to maximize profits.

 

[King Belieal]

What I understand is that when you should focus on creating value, and money would naturally follow you and your business.

 

[Springtime]

If you offer products which are good value for money. People will buy from you.

 

[eLdavis]

The beautiful thing about this statement is that if we actually give our value, it will definitely generate money.

 

[freelancermaria]

Maybe it is to sell valuable products because when you do, people are likely to return and share how good your product is.

 

[Stardom22]

According to me I have understood that they should sell higher quality goods no matter the prices for the products.

 

[Augusta]

The idea is that if you consistently deliver high-quality work and provide valuable services, the financial rewards will naturally follow

 

[Stardom22]

Entrepreneurs that tend to provide quality makes the value for money of their customers thus seem to sell more than otherwise

 

[Trush Jodie]

Build pedigree first before you start to charge people premium prices for a simple product. They won't pay when you don't have pedigree.

 

[Suba]

Don't chase money. chase value. If we apply it to business, if we only chase money or profit, we will neglect customer satisfaction and product quality. However, if we, as businesspeople, chase value, we need to improve customer satisfaction and innovate products so that profits will follow.