For me playing cricket is fun but not for Sachin, it is his profession. For me riding a car may be just to pass the time, freak around or travel, but may be for Narain Karthikeyan it’s a work life. So the thing that provides me living, or commercializes me... is work, in brief all other are just hobbies, interests or a sidelines... or whatever you call it. The job which I am doing, and selling to people is my work… and the one who is buying is my consumer... the one who buys my traits that I am selling.
Whatever I sell in my life, I always keep selling my time along with that… my time. Actually as per my view we all sell our time only… what matters is how effectively we commercialize our time… how can I make my time costlier than others… what should I do? How should I find who is my target consumer, and will they buy my time and pay me better?
Micro-Economics, Theory of Micro Economics: Demand and Supply. If Demand is more and supply is less the price increases, and price reduces when it’s opposite. What I am selling via my time is the product and if the demand is higher and supply is less I will get better deal for my time. For instance I am working in a company as a quality representative, if I got to increase my time-price I have to find out the quality area where there are very few people exist as I can not change the demand of the market, I can only work on supply. If I am able to be the part of that niche group for whom the demand is huge I will be able to quote myself at very high price level, and If I remain at the same place where there are lots of people available I have no margin for negotiation.
Micro Economics is something that is applicable at many places, and economics is something that is actually driving the world and providing it a great equilibrium to stay in peace with billion and billion of human master minds. May be the above mentioned fact is not quite clear, as the perception differs from person to person, and you will always find an exception for everything however I was just giving generalized thought of my mind boggling ideas which I keep getting while ideating.
I may be right… you never know.
Shivendra Singh
29 Nov. 2009