The 3 Things That Determines Your Income

Summary

• The money you make in your career depends on three main things: the value you create, your negotiation skills, and how many others can create the same value.
• To earn a lot, focus on developing skills that create substantial value, like sales, where you can generate millions for a company.
• Be excellent at negotiating to ensure you receive a fair share of the value you create.
• If someone else can offer the same value for less, it might affect your position. Strive to create value uniquely so that it's hard for others to replicate.

Video

How To Take Action

I would suggest focusing on creating skills that hugely impact value, like learning sales. Sales can turn your efforts into millions for a company, making you invaluable. Start with free resources and practice your techniques to improve your abilities without spending much money.

Another key step is improving your negotiation skills. This ensures that you get the best return for the value you provide. Role-play scenarios with friends or colleagues and seek feedback. There are plenty of free online articles and videos to help you polish these skills.

It's also important to make your value unique. Think of ways you can do things that others can't easily copy. Maybe it's your approach, a personal touch, or a unique service offering. Whatever it is, lean into what makes you stand out.

Remember, even if someone can do what you do for less, you must build on these strategies to ensure your position remains strong. A good way to secure your position is by creating a signature style or a unique process only you can offer. This makes you irreplaceable and can often be developed without any financial investment.

So, focus on honing your skills, negotiating well, and ensuring your value is truly unique. These steps are not only cost-effective but can significantly boost your personal growth and business success.

Full Transcript

the amount of money that you will be able to make in your career comes down to three variables number one is the value that you're able to create in total for all of the people you create it for times your ability to negotiate how much of that value you're able to get times amount of other people who can also create that value and you have to have all three if you develop a skill of sales and you can create millions of dollars in value for a company and you're really good at negotiating then in theory you'd get millions and millions of dollars from that company but if somebody else is willing to work for a few $1,000 a year in order to make that value then your position disappears not only do you want to be able to create that value you want to be able to create a value in a way that no one else can