Know Your Worth

In October 2018, a new luxury shoe store opened in a posh mall in Santa Monica. The shoes were displayed on glass shelves and runways. Models were showing them off, and gold mannequins were everywhere. The store was called "Palessi," from the Italian designer Bruno Palessi, and on opening day, there was a line of people waiting to get in.

The price tags on the shoes were high, with some going for $1800 a pair and many around $400-$500. People gushed over the shoes and talked about how comfortable they were. Several customers spent hundreds of dollars to purchase these luxury shoes and were even taken to the back of the store after their purchase for a "special consultation."

That's when they discovered the secret of Palessi: Bruno Palessi did not exist, and the shoes they had purchased were from Payless ShoeSource. The thousand-dollar shoes were actually forty bucks from Payless, and the people couldn't tell the difference. It was all a marketing campaign to prove the quality of their products. And yes, they refunded the customers after they found out what was going on.

The shoes were identical to those sold at the regular store down the street, but a different setting transformed them into treasures. People who never would have considered shopping there had inadvertently become happy customers. The product was the same, but the perception had changed.

The same thing can happen to us regularly. Some influencers get paid crazy amounts of money to say a particular product, show, or band is the best. An item you'd never consider suddenly becomes a necessity when you see that perfect Facebook ad at the right time. And if we perceive it as something we must have, we're willing to splurge a little (even if the product isn't really worth it).

What is your perceived value? I've seen people in a particular job with low pay and little respect who decided to make a simple shift to another company doing the same work, and suddenly, they were praised like crazy and considered invaluable. And I've seen those companies that they left realize too late the real treasures that had once worked for them.

If you're a leader, take stock of your team today. Recognize the value of your people and consider the last time you told them you appreciated them. It's a safe bet to say another company would probably be thrilled to take some of them off your hands. What would it cost you to replace them when they're gone?

If you don't currently lead a team, maybe you feel unappreciated where you are in life. You feel like no one notices the work, time, and extras you contribute. There is a heavy temptation to start cutting corners and take it easy. Don't let up. Personal success comes from personal discipline. Anyone can be average. Anyone can lead an average life and do just enough to get by. The people who do the extra work stand out. You may not think you stand out to your current manager, but you never know who is watching and when the little extras will pay off. Keep up the hard work!

Or perhaps you're on the other side and feel you deserve this lack of appreciation. You're doing the best you can, and you don't feel it's good enough. I've found that people are often harder on themselves than they should be. I can almost guarantee you're doing better than you think you are, and every little extra you do is a blessing to others. You are more valuable than you imagine, even if you have a hard time believing in yourself.

Whether you think you're overpriced shoes or underpriced treasures, it helps to know our value. Don't let someone else put you on the bargain rack!