Why intelligent minds like Steve Jobs and Elon Musk embrace the WTP rule to make better decisions
Time and effort aren't the same as value. Consumers are fickle and are often only willing to part with something for much more than they paid for it. This is what’s known as the endowment effect. Jeff Haden reveals that by changing how you think about your products, from what you think they’re worth to what you’d be willing to pay for them, you’ll avoid this hike in perceived value like an industry giant.