Money Vs Value
When you think of Thailand, is wealth and abundance the first thing that crosses your mind? Probably not. It might be palm trees, beaches, elephants, fruits, Thai food, and holidays.
One of the BIG challenges that Coaches (or business owners) face in Thailand or maybe in your country too, is that there is a belief that people can't 'afford' coaching (or your services) and they can't 'afford' to invest in their dreams and their desires. And I found something that helped me create a powerful insight around money and value.
The 2019 Thailand Motorshow Luxury Car Sales Report.
Keep in mind that in Thailand we have a 300% Luxury Car Sales Tax. So a Mercedes Benz in the US may cost around 40,000 USD. The same car in Thailand is around 90000 USD. We are talking about your standard 2019 C250 Sedan.
So if you look at the top left, you'll see that 2,400x 90,000 USD cars were bought. And if you look to the bottom right, you 'll see that 10 people bought a Lamborghini, 6 people bought a Rolls-Royce and 5x people bought a Bentley.
How much do you think a Lamborghini, a Rolls Royce and a Bentley in Thailand cost?
A Lamborghini in Thailand costs 1.3 Million USD. (A Lamborghini in the US costs 274,390 USD)
A Rolls-Royce in Thailand costs1.8 Million USD. (A Rolls-Royce in the US costs 450,000 USD)
A Bentley in Thailand costs 662,000 USD (A Bentley in the US costs 200,00 USD)
Thailand is a wealthy country.
So how the hell does this relate to Coaching, Fees and Money?
I asked my colleague in Taiwan, Caroline Tugwell as to what her insights were
around this idea. This is what she said.
1) Everyone's concept of large, medium and small amounts of money is different.
2) People will either see the value in coaching or not. You don't need to justify it. It depends on how much they care about investing in themselves and their own dreams.
It seems to me and my mentor Christina Blakey taught me this, the less you worry about what people think about your value and the more you work on your Mastery as a Coach (or on your business) and deepening your impact - you will not only be 'all-right', you will THRIVE. :)
How did this article impact you? What insights did you get?