Funny question. The answer seems so obvious, right? True that when it comes to tangible stuff with clear intrinsic attributes which are, well, easy to value. Gold goes for $1,390 as of 3:16 pm Eastern time today, and we all know why. It's a commodity, a scarce one at that, and gold here, same as gold where you are. Obvious.
But what about intangible stuff? How valuable is fame, how valuable is professional success, leadership, or maybe a strategy? Well, we also know that depends on who is doing the buying and why, which means that value is in the eye of the beholder, just like beauty. So putting a price on some things is tricky. How much were you looking to pay for that success? And maybe price is not really an issue when a strategy for turning around your $15b company is the goal and its your head if that strategy does not work in the next 18 months, so that will cost you $6m, few questions asked.
So why am I asking such a simple question?
In our research with business and IT executives we ask them simple questions, like what's valuable to them, and they are quite clear. And their answers tend toward the intangibles versus the tangibles. For example, when we ask, "What would you consider to be a valuable meeting with a vendor salesperson?" the number one reply is "The salesperson clearly shows they understand my business issues and can clearly articulate to me how to solve them." That's an intangible value forged in the cauldron of empathy, credibility, expertise, experience. Also obvious, but perhaps not so easy to deliver.