After going through some personal finance books that I’ve read before, I was drawn to a chapter from “Killing Sacred Cows” (excellent book by the way) on offering value that I resonated with. The basic premise is that the more value you offer to others (society/company/people), the more money you can potentially make. Money is simply the result of value offered.
The employees within a company that are paid the highest are most likely the ones that offer the most value to the company. Employees that go above and beyond what is expected often are the ones that get noticed and get the promotions.
So instead of the mindset of what the company can give you, change it around, what can you offer the company? What can you give over and above what is expected of you? Can you upgrade your skills so that you are more valuable to the company? What courses can you take? What can you learn?
What you’ll find is that as you offer more “value” to the company, the more valuable you become. As a result, you’ll be the one most likely to get that promotion and/or receive higher compensation.
I’m of the belief that entrepreneurs have the highest potential for income. Why? Simply because employees are typically paid for their time and there are only so many hours in the day. Entrepreneurs, on the other hand, are paid for the amount of value they add to society, which is potentially unlimited.
Just take a look at the successful businesses in your town. Why are they successful? If they offer similar products as other stores, what makes them stand out? What value do they add that others don’t?
If you’re thinking about how you can add the most value to society as an entrepreneur, in my opinion, it all comes down to what you are passionate about. If you enjoy doing something, then it’s more than likely that you’ll enjoy learning more about the subject and work harder on how to improve in the area. If you can convert that interest into a service or product that will add value to society, the sky’s the limit.
This whole article boils down to one simple concept, offer more than you expect to receive. Not only does this result in “feeling” better, you’ll find that you’ll receive more as a result.