I was invited, along with a number of others, to attend a focus group in the city.
We would be asked to complete a written questionnaire, and then interviewed, about a new insurance business start-up.
As well as being exposed to new ideas and having a chance to give back to the startup community, we would be paid $100 for 90 minutes.
Or we could have an organic fruit and veg and meat box worth $100.
What would you choose?
I was amazed that half of our group decided to opt for the organic box. And half of those who did were quite vocal that we didn’t know what we were missing and had made a “bad choice” by choosing cash.
But here’s the thing, my cash could easily be converted into the organic box (there’s an online order form).
But their box can’t easily be converted into anything much, let alone cash.
So even though we were all getting $100 worth of value, my value was even more valuable.
Conversion makes value even more valuable because it leaves you with more options. What do you do to make value even more valuable in your business?