What Are You Willing To Pay More For?
Sometimes paying a little more for a service is worth the added expense.
Published on: February 18, 2011
A month ago, I installed a new radio in my car. I’ve replaced the radio in other cars, but this was the first time I did it myself.
Previously, I was under the impression that paying someone to install it was well worth the expense. This time, it would have cost roughly $70 to install it. Considering the radio retailed for about $125, I didn’t see the value in bumping my bill up to $200 for something I could do myself.
It took me about three hours, but I got it done. It was quite a time sink, but I did it after work and I didn’t have anything else pressing to get done. Essentially, I earned about $24 an hour to do the job. Not bad.
In speaking with a fertilizer representative yesterday, we discussed which types of farmers are willing to pay for custom application. I mentioned that it was probably tough to get big farmers to shell out the cash when they can buy in bulk and buy their own sprayer. Then, it’s just a matter of finding the labor to run it.
He surprised me when he said not always. In his experience, he’s seen several 8,000+ acre farmers who are willing to pay for custom application. It comes down to time management. They just don’t have enough of it to track down the essential components, train someone and have the key data they require after it’s done.
It got me thinking. What are you willing to pay to have done because you see value in the product/service? Is it the best hybrid money can buy? Maybe it’s labor?
For me, the car radio was not out of my realm of know how. Within a year or so, we need to redo our landscaping around the home. That I will pay to have done.
I don’t know enough about plants and bushes to choose ones that will flourish in the proper locations around the home. Not to mention, I have no clue on how big stuff will get. A couple feet off could be a big deal in about five years.
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