If you’re not making enough money, you need to look no further than yourself. In this economy, the quickest way to more money is to maximize your earning potential, which is directly related to your productivity for a company. People pay you based on the value that they receive from you. So, it stands to reason that if your income is too low, you’re receiving just compensation for the value you bring to your employer. To command a higher wage or salary, you need to become more valuable to the company. So essentially, YOU are your greatest asset in terms of financial achievement. This is true whether you’re self-employed or working for someone else. Seen this way, you have control over the situation. You can change things for the better.
You Are the Sum of Two Parts
We are all made up of two different sides known as strengths and weaknesses. Your strengths consist of various personal attributes that should be considered as assets, and your weaknesses are your liabilities. Some examples of your strengths may include your:
- Talents, skills, and abilities
- Professional training, credentials, and experience
- Key relationships
- Business contacts
- Reliable friends
- Good reputation
- Business opportunities
Some examples of your weaknesses may consist of inadequacies such as your inability to do the following things properly:
- Play music
- Mow the lawn
- Build a house
- Drive a vehicle
For all intents and purposes, there is nothing wrong about what you can’t do or what you don’t have. You just need to be aware of them, and when you feel inclined to improve on your weaknesses, do so. In the meantime, realize that your income is a byproduct of your strengths. YOU are the source of all the wealth you have and will create in the future. This means that to increase your capacity for greater wealth, you just need to discover how to become more valuable and give the greatest value within you to the greatest number of people. The more people you influence, the more money you’ll make.
Then treat your weaknesses as liabilities. Learn to pay others for products and services that you need but can’t directly provide. In this case, you would be paying them for their assets (talents, skills, and abilities) that would otherwise cost you time and frustration if you were to do them yourself. Spending $40 or $50 every two weeks to have a professional landscaper manicure your lawn will save hundreds as you invest time doing what you love, possibly augmenting your assets for greater earning potential.
How to Improve Your Income Potential
Realizing that someone pays you for rendered services is proof that you’re valuable. Your current income is an indication of your worth to the organization. To earn a greater return on your investment, consider devoting more time and effort in personal development.
This is where you have the power to control your environment and destiny. Knowing that you are your greatest financial asset, spend the time, money, and effort to magnify this asset. Go through training, earn certifications, specialize in a high-demand field, and gain more experience to increase your value and, ultimately, your income.
Notice that the people who command higher wages and salaries in your organization are those with higher credentials, experience, and specializations. Decide to make a change in your life by doing the same thing. In the end, your wealth-building capacity depends on you, which is your greatest financial asset.
To learn more about your financial options, consider reading my new book: Pennies to Power: How to Use Your 20’s to Gain Financial Independence for Life.
Thanks for reading.
What Are Your Thoughts?
What are your strengths? Write them down and treat them as assets. What are your weaknesses? Write them down and treat them as liabilities.