Time Vs Value
… Let me explain.
Jim John was fond of saying this during his many speaking engagements; “You don’t get paid by the hour. You get paid for the value you bring to the hour.”
And he was right!
That is why two people can spend the same amount of time in the same office, maybe even sitting at the same workstation but when the end of the month comes, the salary cheque has a difference of several “zeros” in between. Why? Because one is paid $30 per hour while the other is paid $300. So if they are both working the same hours, what is the difference?
The difference is the value each brings to the table. 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 grow yourself to a higher level position.
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.
Perhaps you do not have much because you have not become much.
Increase your value and everything around you will change.