“Your true worth is determined by how much more you give in value than you take in payment.”

Value is not the same thing as price or compensation. Your value is not necessarily equal to your salary or commission. Webster’s defines value as, “The property or aggregate properties of a thing that renders it useful or desirable.” Your salary (or commission) is simply the payment you take. Your value is the relative worth you add to the organization (or transaction), both in the mind of the person who signs the check and also in the experience of the people (both within the organization and without, that is, the customers) with whom you interact.

An example of the difference between price and value would be the accountant who charges you $500 to do your returns but saves you $2,000, as compared to what you would’ve paid in taxes had you been doing the returns yourself. Add to this $2,000 the twenty hours of hair-pulling frustration she saves you, plus the added security of knowing it is done correctly. So while her fee (price) was $500, the value she provided was four times that fee in cash terms, and much more than that when you take the full experience into account. At the same time, while she charged you $500 for the work, it didn’t cost her nearly that much to do the work, so she made a significant profit too – which she should, given the value she provided.

It is the trade secret of all exceptional businesses (and sales people), and the core element that lies at the heart of their success: providing more in value than they receive in payment.

Value is value – not price. And the consistent over delivery of value is the cornerstone for creating a culture of excellence.