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Category Archives: Basic Business Concepts
The Artisan’s Dilemma
There is a point on the road to financial success where almost every artisan has to come to grips with an agonizing decision for which there is no single good answer. What brings it on? As an artisan, you finally … Continue reading
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Not being a commodity – part 4
Let’s do a quick review:
A commodity is something that is purchased almost entirely on the basis of lowest price.
If you are a craftsperson, or work for yourself you probably do not want to compete by being cheaper than everyone else. Following that path makes it hard to pay your bills and support your family.
You want to be able to command a reasonable price on the basis of being recognized as unique or better than any competition.
Before you get uptight about the seeming complexity of this situation, I’d like you to look at the basis of all legitimate business: exchange!
If you are beating your head against the wall trying to figure out how you can get more money, you will resolve your dilemma only when you start thinking, "What do people want than I can produce?"
On top of the world…
This is the experimental wind generator at the Jacksonville Center and the blades are rarely stationary. As I got out of my van yesterday morning, I saw that the blades were still for a change and there was a small … Continue reading
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To Be or Not Be a Commodity – that is your choice
Being a commodity can be very rewarding under the right circumstances. If you are a commodity that commands high wages, you show up, do your job and rake in the money.
Some past examples of this type of commodity were design engineers, system analysts, database administrators, and MBAs from recognized universities.
I was a commodity for the first eleven years of my working life and never knew it. As a computer design engineer I was always getting job offers at higher salaries and as a result, I changed jobs every two and a half years. The fact that I was difficult to manage and didn’t understand office politics made little difference during those golden years. I was a scarce commodity at the time and benefitted greatly from being in that category.
I didn’t realize there was a downside…