Consulting Engagements in Sharing knowledge beyond borders -- A Game Changer for Entrepreneurs, Business Advisory & Management Consulting Oil & Gas, Supply Chain to reinvent oil and gas for a new energy era.
My dear Ron Baker , you are absolutely fantastic and really your doing great work for the Accounts and finance professionals, to understand and crest value to customer and capture the value. Good Bless , Good bless Happy to see you Thanks Thanks Thanks
03:26 - It depends on what you’re selling and when you’re trying to sell it ; the trading of certain time can have an opportunity cost (or not) relative to swings in demand from other customers.
I like this analogy on Value based Pricing -- -Value-based pricing is a strategy of setting prices primarily based on a consumer's perceived value of a product or service. Value pricing is customer-focused pricing, meaning companies base their pricing on how much the customer believes a product is worth.
@@RajeshBhavnani Just a off the shelf type example/food for thought. If you go the the doctor, did you go the a low income/medicaid clinic or a comprehensive coverage premium insurance/Concierge Medicine clinic? Both supposedly provide the same problem solving service but one service will pay the worker significantly more per client. Would you classify medical work as essential? Would you classify the low income clinic as a race to the lowest possible price & cost? Would you say the low income clinic be happy with the high and frequent customer churn as long as it maximizes total patients are continuing to rise? Would you characterize clinics desire the employees to be paid the least possible? Likely to utilize the least proficient that still might perform most duties as a marker for the lowest pressure to increase wages over the clinics operational life? I would say the best distinguishing characteristic of determing employee compensation from the outside and only being able to choose one is by looking at the cost of the service provided. Cost of goods and service provides A lever to raise quality. Stereotypes are good first order approximations as they are distributed perception on the topic. In this case the stereotype is a higher cost good is a higher quality good. Though I will admit like most things I'm sure it looks more like a bell curve as opposed to a linear graph. To paraphrase economist, all market information about goods and services is communicated through price. *Immediate Edit for spelling and incorrect word format.* Let me know if any further phrasing or context is unclear.
@@RajeshBhavnani Your descriptions seem apt and accurate to me. Through this session of discussion and discovery it seems to me as though we have uncovered the vast majority workers falling in the essential catagory are trying to serve the greatest number of people possible and to that end providing the least amount of value possible that the market will bare. And from that point of view it might be said that essential workers are already priced for the value they provide. To increase your pay rate while maintaining an essential worker position dusting off the resume for a rework and moving to a new position within your sector is required. Like moving from McDonald's dishwasher to say Ruth's steakhouse dishwasher. Or that's the conclusion I have so far drawn.
@@ericcampbell4526 Oh! That's a good one. Largely dependent on the time Horizon you look at. I would start with food, health, and government positions. I would probably go on to include Electric, water, ( for public health ) phone service, ( Communication, again supporting people who are in need of help; health and welfare ) and fuel systems (so those workers and travel to the appropriate destination). Beyond that I believe it becomes a debate of perception and standard of living. I think a good comparative data point would be to take your regions natural disasters and follow what gets proritized for getting put back into service with how much priority.
Interesting - in another interview available on CZcams wherein you tell the landscaper story and said you did hire landscaper #3, not that he was a unicorn that doesn't exist as you say here. Makes me wonder how much else you say is BS.
Watching this was an absolute revelation, thank you Mr. Ron Baker!!
Hands down the BEST talk I have ever watched… THANK YOU Mr Baker, I'll be watching and following everything you post
Where can I watch this with better sound quality
As an ex-advertising person and now an artist, this was an inspiration for me, thanks
My landscaper is the third one. But it took me to train him into it. But now he landscapes the whole block
This is still gold.
I'm so glad i found this guy i've been trying to tell this to everyone i know for years
Consulting Engagements in Sharing knowledge beyond borders -- A Game Changer for Entrepreneurs, Business Advisory & Management Consulting Oil & Gas, Supply Chain to reinvent oil and gas for a new energy era.
Changed a lot of my knowledge about pricing and work.
My dear Ron Baker , you are absolutely fantastic and really your doing great work for the Accounts and finance professionals, to understand and crest value to customer and capture the value.
Good Bless , Good bless
Happy to see you
Thanks Thanks Thanks
03:26 - It depends on what you’re selling and when you’re trying to sell it ; the trading of certain time can have an opportunity cost (or not) relative to swings in demand from other customers.
great info
I like this analogy on Value based Pricing -- -Value-based pricing is a strategy of setting prices primarily based on a consumer's perceived value of a product or service. Value pricing is customer-focused pricing, meaning companies base their pricing on how much the customer believes a product is worth.
But if Im selling a product, my price will already be given km my website so, how is it appropriate to use that opening line???? Please do reply
What is this insane noise.
I really wish he has his own podcast!
He does, its on spotify its called The Soul of Enterprise.
True
This really blesses me in no small way. Thank you!
Great content
Thanks for sharing
How Ron is that right that Even Karl Marx in his work had recommended not to be payed by the hour.
33:39: Price sensitivity Mac vs Windows
You all couldn’t fix the static soune
Please channel owner edit the audio. Great content impaired by a fuzz sound
okey
Good talk, too bad about the sound. A quick fix in post wouldn't helped. AH well.
That poor camera operator is trying to focus with a wide open iris. Like ice skating uphill.
So when will Essential Workers get Value based wages?
When we move out of a commodities position and into a premium product/services sector as commodities are inherently a price race to the bottom.
@@RajeshBhavnani Just a off the shelf type example/food for thought.
If you go the the doctor, did you go the a low income/medicaid clinic or a comprehensive coverage premium insurance/Concierge Medicine clinic?
Both supposedly provide the same problem solving service but one service will pay the worker significantly more per client.
Would you classify medical work as essential? Would you classify the low income clinic as a race to the lowest possible price & cost? Would you say the low income clinic be happy with the high and frequent customer churn as long as it maximizes total patients are continuing to rise? Would you characterize clinics desire the employees to be paid the least possible?
Likely to utilize the least proficient that still might perform most duties as a marker for the lowest pressure to increase wages over the clinics operational life?
I would say the best distinguishing characteristic of determing employee compensation from the outside and only being able to choose one is by looking at the cost of the service provided. Cost of goods and service provides A lever to raise quality. Stereotypes are good first order approximations as they are distributed perception on the topic. In this case the stereotype is a higher cost good is a higher quality good. Though I will admit like most things I'm sure it looks more like a bell curve as opposed to a linear graph.
To paraphrase economist, all market information about goods and services is communicated through price.
*Immediate Edit for spelling and incorrect word format.* Let me know if any further phrasing or context is unclear.
@@RajeshBhavnani Your descriptions seem apt and accurate to me.
Through this session of discussion and discovery it seems to me as though we have uncovered the vast majority workers falling in the essential catagory are trying to serve the greatest number of people possible and to that end providing the least amount of value possible that the market will bare.
And from that point of view it might be said that essential workers are already priced for the value they provide. To increase your pay rate while maintaining an essential worker position dusting off the resume for a rework and moving to a new position within your sector is required. Like moving from McDonald's dishwasher to say Ruth's steakhouse dishwasher.
Or that's the conclusion I have so far drawn.
Who is essential
@@ericcampbell4526 Oh! That's a good one. Largely dependent on the time Horizon you look at. I would start with food, health, and government positions. I would probably go on to include Electric, water, ( for public health ) phone service, ( Communication, again supporting people who are in need of help; health and welfare ) and fuel systems (so those workers and travel to the appropriate destination).
Beyond that I believe it becomes a debate of perception and standard of living. I think a good comparative data point would be to take your regions natural disasters and follow what gets proritized for getting put back into service with how much priority.
Interesting - in another interview available on CZcams wherein you tell the landscaper story and said you did hire landscaper #3, not that he was a unicorn that doesn't exist as you say here. Makes me wonder how much else you say is BS.