The great Jim Rohn once said, “You don't get paid by the hour. You get paid for the value you bring to the hour.” This lesson alone opened my eyes, as well as those of countless others.
Whether you are an entrepreneur or a normal employee, we all need money to live on, entertain ourselves, travel the world, and just improve our lives in general. Yet, many complain why they don't make enough.
Many of us struggle, paycheck to paycheck, not knowing whether we can pay the next bill or where our next meal may come from. Some of us have businesses that we know there is a need for, yet we still don't see the big results we know we should.
This is all comes back to Jim Rohn's lesson from the quote I mentioned.
One Principle That Will Make You More Money
To put it simply, you must give more value to the world to make more money. For instance, if you are a McDonald's burger flipper, you probably make minimum wage and barely get by.
On the other hand, if you are a neurosurgeon, you probably make 6 figures or more per year. Both may even work around the same amount of hours.
Therefore, what we need to learn here is that we aren't paid for our time. We can go find just about any human being anywhere and pay them for just there time.
We get paid for what we bring to each hour of the day. Our impact and how replaceable we are is what really makes our income grow or shrink.
To increase your income dramatically, impact more people in a positive way. If you're an average, minimum wage employee, get some experience, learn how other positions work, and try to apply for a higher level position.
In the McDonald's worker's case, you may try to work your way to restaurant manager.
By moving up to this position, you would be more important, impacting more people by keeping everything running smoothly and harder to replace because you have more experience, know everyone else's jobs as well as they do and keep everything going.
If you hate your current job, you could get a higher education to help qualify you for higher level jobs.
The more you know and the more experience you get, the better chance you have of landing a more important position that makes a bigger impact on a company. Therefore, the company has to pay you more for your time.
Or, you could even pursue your own business. Of course education helps with this a lot, but it is self-education and experience that will get you the best results as an entrepreneur.
If you are looking for a better income as an employee, bring more value to the company. If you are looking to build a business, bring more value to your customers and get more of them.
Action Steps To Help You Increase Your Income By The Hour
As an employee:
- Learn more about your company.
- Learn more about other people's jobs at your company.
- Get a higher education that can qualify you for more important jobs.
- Keep getting more experience that will help you get better jobs.
- Read up on how the corporate world works and how others have risen to higher positions with more income and freedom.
- Remind yourself daily that you get where you are because of YOUR own actions and the only way to improve your situation is through YOUR actions.
As an entrepreneur:
- Read about others who have been successful in your industry.
- Model after things that have worked in the recent past and are working right now.
- Give some kind of free value everyday with a free ebook, quality blog content, videos, podcasts, etc.
- Make your product or service as high quality as possible and better than the competition, while fitting the needs of thousands of people.
- Develop a productive routine that helps you increase your business' growth a little bit everyday.
- Realize that you may need help and outsource your most time consuming tasks, so you can spend more time creating more value for customers.
Your income is in YOUR control. Complaining will not increase it. Doing the same things over and over again will not increase it. Only a change in your actions will.
When Jim Rohn said, “You don't get paid for the hour. You get paid for the value you bring to the hour,” he gave you a lesson that can change your life. Bring more value to the world and you WILL be compensated for it one way or the other.
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