What is Value?
If I am bored and want something to entertain me, and I read a story that entertains me, then that story has provided me with value. If I am searching for the answer to a problem and a book contains the answer to that problem, it has provided me with value.
Value is different than money.
Money is what someone is willing to pay for value, but they are not always equal. Oftentimes people are only willing to pay for something they perceive as being more valuable than the money they are paying for the thing. Let me give you an example.
You need 4 quarters to park your car, but you only have dollars. While in the car you see a man walking down the street. You ask him if he has 4 quarters. He does, but he says he wants $2 for the 4 quarters. Or say the man says instead, “If you pay me $2 I will take your $1 to the bank 4 blocks away. I will run as fast as I can. And I will be right back.” Which offer do you think the person in the car thinks is more valuable? Both have the same result. Humans are not always rational.
Here’s another example: a used baby doll is sold on the Internet at a place called eBay where you can sell anything you want. The doll sells for $1 on it’s own. But then the person who buys it writes a story about the doll and re-sells the item on eBay, this time with the story about the doll. The doll then sells for $50 because the buyer percieves the value of the doll as being more because of the story. This is another way to make money from writing.
There are many ways to make money from writing. Some people write instructional courses to teach people. Some people write plays or movies or TV shows. Some people write jokes to tell people at comedy clubs or on late night TV. Some people even write legal briefings or report on news to tell people what happened at a particular event.
I encourage you to keep writing and to keep learning the different ways you can make money – by writing – and other ways. Up next: How to Make Money.