Episode 3: Demystifying Value

Written by Design Pickle • November 15, 2017

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Demystifying Value

What happens when your values are different than the values of the marketplace? Find out on this episode of the Russ Perry Show – Demystifying Value!

Learn how to differentiate perceived value vs. actual value.

Russ will help you discover what value means to you and how you can leverage value in the marketplace.



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this week’s Action Guide

Each week we release an Action Guide filled with relevant exercises from the latest Russ Perry Show episode to help you expand in all core areas of your life: body, being, balance, and business. This week’s Action Guide will help you learn how to differentiate perceived value and actual value. Download it today!

BONUS: No need to take notes – we transcribed the episode for you! Click here to download the PDF or keep scrolling.

– All right, welcome everybody. We are back for another live episode of the Russ Perry Show. I wanna welcome you here today. If you are watching this live, this is November 14th, 2017. And I’m sure you’ve already been celebrating for at least 12 and a half hours. It’s National Pickle day. Can you believe it?

So, we basically don’t really do much on National Pickle day because here at Design Pickle, every day is Pickle day. But for those of you who make this day a very important holiday, we congratulate you. We hope you’re being safe this holiday. Pickle holiday and that you do not consume too many pickles and drive because we all know that can be dangerous.

What we’re talking about today is an interesting topic. We actually have a new, sort of, segment for you, where we’re gonna be cutting over to the “classroom” as I call it. And we’re gonna be talking about values but not the values that we talked about last week in episode two. We’re actually talking about value, singular, how we perceive value.

Now, why did this topic even get caught up or brought up? It actually stems from our haters. You’d be surprised but there are a lot of people that like to diss design Pickle even on National Pickle day. They come at us and attack us, destroying the fabric of America to we should go to jail, to we hire slave, and all of these things. But the reason I bring this up isn’t to give those guys credit because, frankly, they’re idiots. But it’s to illustrate the difference in value systems.

You see, we’ve created a business and a model in which we go out and we, kind of, put our market or service to a vote by the marketplace. And our clients come to vote on the value that they perceived. And so often in business, this gets a little misconstrued. And we tend to get into arguments about, well, I value this so I should, I believe this should be done a certain way. And to a certain extent, there is like a position and a place for us to have these conversations.

Especially when it comes to, say, social issues or moral issues. Hey, I value not eating animals so I will be a vegan. And that’s a decision that make personally. And that’s not the kind of conversation we’re necessarily having today. A. I’m not a vegan but we have a lot of vegans here Design Pickle but that is a value system that they have.

When we’re talking about the economy, the market economy, we’re voting with dollars. It just is a vote of what we value. And so, all of these people that get all up in Design Pickle’s case, it’s very very interesting to me and very intriguing to me because these are probably the people who, while they’re hating on us, will go and take an Uber ride or will get groceries delivered to them or they’ll watch Netflix on Demand.

And so, the same, sort of, efficiencies that these brands have taken the liberty of capitalizing on, Uber, something like Instacarts or Uber Eats, Netflix, Youtube. All of these brands and all of these companies, basically, went out one day and said, “Hey! You know what? We think that there is a different way to deliver this service in the marketplace.” And so, we’re gonna create a new model and we’re gonna create a new experience around taxis or limo cars or delivering groceries or watching movies. And what we’ll then do is we’ll put it out into the marketplace and we’ll see what the market will decide.

And so, for all of those examples, the market had voted: Yes, we love the way that I can now purchase transportation, groceries, streaming media, videos, content. And what is also happening is it’s disrupted a lot of people Traditional movie studios, traditional cab companies. You have lots of grocery stores that are not doing well because of this new on demand model, like the boutique kind of models. And all it is is a market. A market voting on what they value.

And so, we’re no different at Design Pickle. And it’s really funny to see all of these guys getting all up at arms. We have people arguing with twitter back and forth and how much we suck and bla bla bla. But in reality I just kick back and I say, “Well, let the market decide.” And what’s true is the market is voting with their dollars. We have new clients every single day that come aboard and have great experiences. And we have clients that come aboard and don’t have great experiences. Both of those clients, one isn’t right or wrong, one just values what we do and the other decides that they don’t value what we do.

And so, I’m gonna actually dive into this a little bit more in just a few minutes here. But we ended up, you know, taking this conversation that we see happen online with the haters. And we’re inspired to create our own little version of what Jimmy Kimmel does on his show called “Mean Tweets”

And so, If you haven’t seen “Mean Tweets”, it’s a hilarious skit where he actually gets celebrities and musicians and, you know, famous people in general to come on the show and read mean tweets that people say. Mean things about that person. So, it’s Beyonce, Beyonce is reading people talking trash about Beyonce.

And so, we actually did this and I won’t ruin the surprise but we invited the Pickle to come aboard and read the mean things people are saying about Design Pickle and specifically the Pickle. So, here you go. Enjoy.

[Rachel] Well, hello. I’m Rachel. I’m the marketing coordinator at Design Pickle and I’m here with The Pickle today. Pickle, I just wanted to congratulate you on all of the super happy exciting really positive comments that you’ve gotten.

[Pickle] Thanks.

[Rachel] On social media lately. Yeah, you’re really rockin the jar.

[Pickle] It’s what we do.

[Rachel] It is. It is. But, you know, unfortunately, even though we do have a lot of people who love you, love the work that you’re doing, love the work that Design Pickle’s doing, there have been some salty pickles out in the jar. So, I just wanted to give you a couple of comments that we’ve gotten…

[Pickle] Is the logo from Horrible Logos? Question mark. Is that real? There’s Horrible Logos?

[Rachel] Yeah, there’s a Horrible Logos.

[Pickle] Weak Sauce. Period. I don’t like to use a lot of words either.

Once again, another poorly executed ad from these guys. [bleep] Your [bleep] Grammar, [bleep] logo, and your [bleep] business plan. Period. He did use the Oxford comma so I will give him that.

Tickle my pickle. It’s very demanding and I don’t think I wanna be part of that.

I suspect that they’re using slaves. That’s an actual comment on our…

[Rachel] That’s, that was a real comment and public service announcement. We don’t use slaves. We use designers.

[Pickle] I get that your own logo is supposed to be ironic but I don’t think most people will. Like a hipster logo? Is that… They think they’re the hipster… It’s a pickle.

[Rachel] Maybe you’re cool.

[Pickle] What if I just want the pickle tickle? It’s actually a thing. I’m not Googling that for sure.

Until I click the ad, I thought you’re just selling jar pickle. Maybe try using a different ad?

[Rachel] Did he click the ad, though?

[Pickle] I’m not sure I know what this means but… Thought this was gonna be some dank pickles, now I’m upset. I feel like I don’t get out enough to know what that means. But I like it.

I was almost tricked. Thought that this was a pickle subscription.

[Rachel] Okay, literally, we do not sell pickles.

[Pickle] How many more of these are? Mad that we don’t sell pickles.

I wanna make sure my inflection is correct here. Dumb as [bleep] Sorry mom. There goes {DP}, it’s got little squiggles around it, and it’s crappy “fake” designers.

[Rachel] Public service announcement: our designers are real.

[Boots] I’m real. I’m designer.

[Pickle] As my grandma used to say, good design ain’t cheap, cheap design ain’t good.

[Rachel] Good thing we don’t do either. Oh [bleep] No. Let me rephrase, good thing we…

[Pickle] How about economically priced, awesome production level graphic design.

[Rachel] ’cause we do that. So, this is the last and probably most important.

[Pickle] Good, ’cause the salty is getting to me.

[Rachel] Yeah. This one’s pretty salty.

[Pickle] This guy’s obviously serious. How much weed do you bros toke in an average week? Smoke weed everyday.

[Rachel] All right Pickle, thank you for reading these salty comments. I’m sorry if it dulled your shine a little bit this morning. Yeah, a little rough but no, I got the whole day ahead and just keep rockin’. All right, let’s go grab some coffee and get back on the grind.

[Russ] All right, welcome back. That never gets old and we’ll probably do more of these but just a little fun for the haters out there who hating on Design Pickle.

All right, my producer, Janett, informed me that I forgot to introduce the show. We’re not gonna cut to the intro titles but Welcome back to the Russ Perry Show. In case you’re not sure what you’re watching. That’s it.

We actually set up a new studio piece that we will be cutting to in a second. And it is called “The Classroom” so, what we’re gonna be doing, and this is the only time I’ll intro this for those of you who are new is, we’ll have a segment and then we’ll cut to a little learning lesson taught by yours truly. So, watch how I magically transform myself and move across the room in three two one… to the first ever design Pickle Russ Perry classroom experience.

[Classroom Russ] We’ve been working, literally, for six months to get to this space so I hope the content does deliver for you. Actually, today we’re gonna be talking about this concept of value. And a little bit ago, hopefully, this all works out right, we were talking about just the different perceptions people have around value. But what I wanted to teach for you today is this understanding of perceived versus actual value and breaking down what value means to you and how you can leverage that in the marketplace.

So all right, we’ve got the tablet working. So, this concept of value is really interesting. And as we’re talking about before, a lot of times when people knock on my business, when they hate on Design Pickle, really, what they’re attacking is the value we create. So, in anything professionally that we’re gonna be doing there’s really this idea that we create value.

We go out there and we have a craft, whether it’s a service or a product, just, anything that we’re designing and creating in the world and we put it out in the universe and we say: hey, this is the value that I think I am creating. Now, the universe, then, votes on our value. They decide whether or not we are actually valuable. And how they decide that is really simple. It’s this beautiful thing called money.

Now, many years ago, I read this great book. I’ll write it up here so you can check it out. “Thou Shall Prosper.” This book changed my whole world when it came to understanding value. Because before I read this book, my whole understanding around money was, kind of, uncomfortable. My mom, she was a single teacher, growing up in Arizona, not necessarily the most lucrative job or position. And me and money was just like, we never really got along. I never really had a lot of it and when we did have it, it was in just a small little amount that we were very very careful on how to spend it.

So, as I became an adult, I was always very, like, I wanted money and I wanted the benefits that money brought, whether it was to buy things or do things or go places but I never really had a comfort with money. So, it was no surprise that for most of my adult life I didn’t really have a lot of money. And in this book “Thou Shall Prosper” the rabbi, I think is, Daniel Lapin or Lapin. He talks about the Jewish understanding of money. And, really, what it comes down to is that dollars are a symbol for the value that you create.

So, however much money that you have, however much of this you’re generating in your money pot, all of these is the universe coming back to you and saying, “You know what? I value what you’re doing.” and because we live in a real world and it’s not, you know, pats on the back, kiss, and hugs just don’t do, just don’t buy the groceries. We actually need a symbol for that valuation and so people come to us and they say, “Here you go. Here’s the money. Here’s the money that I’m gonna pay you for whatever it is you’re doing.”

So, this concept of value, really, comes down to what we think that we are doing is valuable but ultimately the proof of us actually creating value, is when people vote with their dollars to say, “Yes, Russ, I value what you’re doing. I am going to give you money for it.” This is what irks me so often when people attack Design Pickle. Is they say, “Oh, you guys are, you know, doing crappy work. You guys are destroying my design degree. You guys are doing this and not the other.” And in reality, if we looked at the bank accounts of me and Design Pickle versus the bank accounts of our critics, what we would probably find is one, is very small with very few dollars in it. While the Design Pickle bank account is is very large with lots of money in it.

Now, I don’t know this for sure. This is my theory. And if any of the critics of Design Pickle would like to show me their bank accounts, I’ll happily show you mine and we can compare but the main thing here is, this is the vote of value. So, when people blast us and they attack us and they say, “You guys suck. You guys shouldn’t be doing what you’re doing. I have lots of criticism for you.” I just look back and I say, “You know what? You are entitled to your opinion. And I love your opinion on what we do.” But I would have you consider, when we actually look at the value we’re creating in the world, there are thousands of people who very very firmly disagree with me. How do we know they disagree? Well, they are paying us for what we do.

Exactly in the process and exactly with the service that we provide. So, ask yourself, as you are creating your engine of value, this is like a car engine, you know, this is gonna look really terrible here. I’m still learning how to draw and talk at the same time. But if you have your car. How does this look Janett? Is it very good? Is this good engine? My producer, Janett, is laughing at me. And this car is the engine. It’s gonna get you somewhere. It’s gonna create power. It’s gonna create the value in the universe for you.

What is it that you believe is gonna be valuable? And the, you have to ask yourself, are there people, is there a market who are going to say, “Yes, Russ. Yes, whoever you are, I agree with what you’re creating and so, we are going to pay to be a part of what you’re creating” We’re gonna ride in your car. We’re gonna go where you’re gonna be going. We’re gonna take advantage of the value that you’re creating this is business 101.

Every time someone emails me: Russ, I’m starting my own business. I’m starting my own product service business. I would like to do bla bla bla bla bla. What should I charge? In fact I just got this email or instagram message last night. Russ, I’m starting a product service business, what should I charge? What’s the value I should create?

I turn to them and I say, “Look, here is what I know. Design Pickle operates on two fundamental beliefs. We charge a fair price for what we do and we deliver a ton of value for the price.” So, that ultimately becomes the launching pricing mechanism for whatever you’re creating. A. Do people find there to be value in just the economics of what you’re offering. If you’re offering 5,000 dollar consultations to a market, that has never spent a hundred bucks on whatever service you’re providing, there might not be a match there. So, there needs to be an initial perceived value before they ever sign up for what you do.

And this is why our 370 dollar a month flat rate model works because people who have bought design get this. If you’ve never bought design, if you don’t see this number and you’re mind isn’t blown by this then you don’t, you won’t value Design Pickle. But if you see this, even before you’ve used our service, you will now value it. Now, what we then do, is we deliver on that. So, we don’t just offer 370 dollars a month worth of value. We offer, what I’ve been told as thousands of dollars worth of value per month for this 370 dollars.

So, there’s two parts: the perceived value with your target audience and then the actual value that you deliver. So, to summarize all this up, and give a little more attention to my haters out there, the question is this, “What value are you creating and do your bank accounts represent your perceived value in you mind versus the actual value as defined by money in your bank account that you are getting paid?”

Thanks for tuning in to the Russ Perry Classroom, here in the Design Pickle Studios. We’ll see you next time. Back to the show.

[Regular Russ] All right. What a great teacher that guy, he was. Welcome back guys. We are finishing up the conversation around values. And I just wanna few couple more illustrations around market value versus perceived value.

If you have not yet heard of cryptocurrency, this is something I’ve been tracking for a while. I’m not very into it per se. But it’s literally a prime example of how the market drives the value of an item, object, or service. So, cryptocurrency is multi-billion dollar industry around virtual money. The technology behind it is literally, like, people writing doctoral dissertations on it but this is the basic point around it.

There are millions if not hundreds and millions out there who value this form of money over, say, regular money, credit cards, Paypal whatever have you. And because of their vote of value, the cryptocurrency market is up in the billions approaching the trillions of dollars, of real value of monetary value that exists out there where you can buy it, sell it, trade it, use it to buy things online, invest in it. And that is all based around our vote of value because we, as the economy, we as the individuals will vote what we value based on our interests. Based on our perceptions.

And so, as you’re going out there and as we wrap up the show I wanted to just sum all this up with a question. Where in life is your perception different than the reality? And what you value versus what the market values. Now, this could be in the service you’re providing. This could be in the service that you’re purchasing. Because when you are able to match those things up, that’s where the magic happens. And that’s what we’ve been able to do here at Design Pickle.

We’ve been able to find a nice symbiotic relationship between the value of our service from the price point that we charge, as well as an over value of the actual experience in the design services that we provide. And because of that, we have seen continual growth month over month, client retention, and we’re looking at even introducing new products and services in 2018 that continue to maximize the value slash consumer perception equation.

So, a bit of a theoretical Russ Perry Show here today. I hope you enjoyed “The Classroom” portion. If you’re watching this on the Youtube or on the livestream just feel free to put your comments and feedback. We’re always adjusting the show. Also, what my valuing from a physical goods perspective, well it’s this book by Benjamin or by Walter Isaacson. I just got this one. This is a classic. This is a on that was written prior to Walter Isaacson writing the Steve Jobs biography, which I love. And of course he just came out with a Leonardo Da Vinci biography.

And I’m also valuing these gangster black post-it notes. I just got these yesterday. I’m not quite sure how I’m going to write on them. My wife suggests a white board, no, chalkboard markers, which, I guess, they make those. So, those are two other things that I’m valuing today. Tune in next week. This is the Russ Perry Show. We will be live before Thanksgiving. If it’s 12:30 pm at mountain standard time, which is Arizona time right now. That’s 11:30 am Pacific time. And as always, thanks again. Looking forward to your feedback. And see you next week.