How to increase your income…
“Jesus loves you, but everyone else thinks you’re an asshole” were the words on one of the funniest and most memorable bumper stickers I have ever seen.
Memorization was never one of my best skills but a funny quote that delivers such a big punch and tells a much bigger story was easy to remember.
Another quote that has left its unforgettable mark on my memory is from none other than T. Harv Eker’s book Secrets of the Millionaire Mind:
“You will be paid in direct proportion to the value you create in the marketplace”
If you ever wonder why your income is not increasing to the level you like, then take some time to examine what value you are delivering in the marketplace.
There are many factors to consider but in general, the world dictates how much money you make, according to three main factors:
- Competition: The number of people who are capable of performing any particular job
- Education: The amount of specialized skills or education needed to perform the job
- Leverage: Number of people that are impacted or benefit from your work
When you consider the above, it becomes easy to see why retail and fast food chain employees make so little money
- There are endless supply of workers who can fill those positions
- No specialized skills or education is required…even teenagers can do them
- They only impact a small amount of people at any given time, which means they cannot be leveraged
If you want to increase your income this year then you will need to address the points listed above.
- What can you provide that few others can?
- Are you a jack-of-all-trades or do you have one highly sought after skill that few can deliver as well as you do?
- Are you still working one on one with clients or do you have a channel to increase your impact and expand your reach?
No matter where you are right now, looking for a job, currently employed, self-employed or have a business that provides an income for yourself and other employees… the above rules will still apply.
By delivering top quality value, the word eventually gets out and you will become highly sought after simply by word of mouth referrals.
But how do you get to that point faster before the referrals start taking effect?
Become a storyteller.
What story do you tell right now?
Are you one of those people that likes to point out problems and tell others why things won’t work or are you the one that seeks to find and deliver solutions?
That’s where marketing comes in.
Marketing is the ability to deliver your story of what value you provide and how you can solve a particular problem.
Communicating that story clearly to the marketplace can make you stand out from the crowd and be the difference of barely getting by or making a substantial income.