Axiom 28: Inherent Value

"Strive not to be a success , but rather to be of value." -Albert Einstein

"What is a cynic? A man who knows the price of everything and the value of nothing." 

-Oscar Wilde

A few years ago I was visiting a company down in Houston that I purchase a lot of material from for my job. I was utterly fascinated by the size and scope of the products that they had on the shelf. As I walked through their huge facility I couldn't help but ask a lot of what I thought at the time were stupid questions.

"Wow, how many of those do you keep in stock?" I asked.

"If we don't have at least 20,000 of those on the shelf at all times we're in trouble." he replied.

"That's an incredible amount of inventory for just one item!" I responded.

As we continued the tour my eyes were drawn to a part I had never seen,

"I've never seen that before, how much does that sell for?" I asked.

"Whatever the market will bear." He responded.

"Give me a ballpark figure." I asked.

"I can't. It's really whatever the market will bear. See, the owner of this company places a huge emphasis on inventory." he continued, "That's why when you call us you know we'll have what you want in stock. Depending on the situation the market will dictate the price."

It took awhile for the real meaning of that conversation to sink in but it finally did. Everything has an inherent value, even you and me. That value is not static, it fluctuates, and scarcity is main determining factor in value.

When it comes to buying a product or service something is only worth what someone else is willing to pay for it. It doesn't matter what the price tag says. It only matters what someone is willing to actually pay and scarcity means that people are usually willing to pay more.

So look at yourself like a commodity for a moment. Are you marketing yourself the same way everyone else is or do you have something different to offer the world? As you progress in life you acquire skills that give you a differentiating factor from the rest of the public. Market these skills and use them to your advantage because ultimately the market will dictate your value regardless.   

Lazy Man's Guide to Learning Guitar

Have you always dreamed of playing the guitar but you're just too damn lazy to take lessons? I have a few way to beat the system and make the learning curve easier and more fun. Try these tips below and before you know it you'll be rocking out like Ted Nugent.

Method #1 - for the Super Cheap Ass - Learn the Ukulele - I know the the ukulele is not a guitar, but it is way easier to learn. Ukuleles only have four strings instead of six like a guitar so the chords are easier to learn. It is pretty easy to play after only a few hours of time invested. Check out Dr. Uke's Waiting Room for songs to see how easy it is. Once you get the basics down you can progress to a real guitar fairly easy or you can buy a baritone ukulele for a guitarlike sound. Best part is you can pick one up for about $50.

Method #2 - for the 'I can't pull my ass away from Xbox' person - Buy Rocksmith for Playstation or Xbox. You can plug in your own real electric guitar or buy one in a package deal with the game. The game teaches you all the chords and tricks and let's you play real rock songs. I bet the people that put 10,000 into Guitar Hero feel stupid now!

Method #3 - for the computer dork rockstar wannabe - For about $400 you can buy a Fretlight guitar. You basically hook this thing into your computer and download the songs you want to learn into the guitar and it lights up the fretboard showing you where to put your fingers. Pretty easy and cool.

5 Must See Documentaries

I love documentaries. They entertain and educate all at the same time. I'm most fascinated with documentaries that look at life from a different perspective or documentaries about people with over-the-top personalities. Below are a few of my favorites that I think will forever change the way you view the world.

5. Freakanomics by Steven Levitt and Stephen Dubner

Based on a bestselling book, the film is a collection of short clips covering a wide-variety of social topics. Topics range from baby-names to sumo wrestlers, most of which are interesting and thought provoking to say the least.

4. E-Dreams

E-Dreams is a documentary about the rise and fall e-tailer Kozmo.com. It is a fascinating look at the process of starting a business. The truth is that most start-up businesses fail and what makes this documentary so good is that it looked like Kozmo.com had a good chance of success until things suddenly made a turn for the worse. 

3. The Invention of Dr. Nakamats

Proving that sometimes execution and flair are better than the actual product is quirky Japanese inventor Dr. Nakamats. He has made a successful career because of his eccentric personality and wacky inventions. 

2. Collapse

Collapse paints a bleak view of the future in an interview with Michael Ruppert. He talks about energy shortages, peak oil, hyperinflation, water shortages, and other doomsday scenarios in terms that really don't sound as crazy as they seem at first.

1. Transcendent Man

This documentary paints a optimistic view of the future in an interview with inventor Ray Kurzweil. Technology in the future will allow us to live longer and live better than any generation before us. Some of the technologies sounds extremely far-fetched. Is Kurzweil crazy or ahead of his time? Check it out and decide for yourself.