Most of the wealthy people own their business and work for themselves. They use their talents and skills to serve their business empire. They always pursue more revenue, efficiency, and productivity. They work and think hard. They take a lot of risks and make a lot of sacrifices. They are hungry to find creative ways to acquire and retain smart employees to help them succeed. Their path from poverty to wealth is never simple and it might look impossible for many other people to try that path.
Every new college graduate usually faces two options: 1) Become an entrepreneur and establish a business. 2) Become an employee that a business owner dreams of getting.
Unfortunately, most people don’t even try to purse the first option. I don’t blame them. Their schools and parents never prepare them to become an entrepreneur. Our schools are designed to prepare students to become an employee, not an employer. For those students who persist to establish a business usually have something in their DNA that gives them the courage, desire, and motivation. I admire them for that.
But what about those students that choose option 2 to become an employee? Will they still have a chance to build wealth and be more successful in the future? The answer is, of course, yes only if they choose to be different from most other employees.
What do I mean by that?
Remember that all business owners, CEO’s, and top executives are hungry to find people that help them increase efficiency, productivity, and revenue. They are willing to pay a very high price to get those employees.
Jim Rohn, a famous motivational speaker in the 80’s, said, “Here is a simple economic formula that works for everybody and that everybody should know. We get paid for the value we bring to the marketplace. We don’t get paid for the time.”
The value we bring is one part of it. It can be a product or a service. But the other part is the value you become and this is the part you should focus on. For example, you become an expert in a certain field and you acquire unique skills that guarantee you a big check everywhere you go. What you become pays much more than what you bring. Once you understand this basic formula, go to work on yourself harder than you work on your job to become an entrepreneur or something that those CEO’s, business owners, and top executives are crazy about.
A few years ago, I shared this philosophy with a young student that just graduated from college. He asked, “What should I do at my current job to implement this economic formula?” I replied, “I have a list of steps that may help you plan your own career and income. You can take these steps and apply them to yourself.”
Here is the list I gave him in case you are curious!
- Focus on the value you bring to the table. Don’t focus on the time you spend at the office. Remember that you get paid for bringing value to the marketplace but you don’t get paid for the time. Many people spend so much time at the office just to satisfy the 40-hour workweek schedule or to pretend they work hard but unfortunately, they bring less value to the table and they don’t do themselves any good by doing that. Don’t be like them. Focus more on value and don’t focus on time spent in the office.
- Learn more than 1 skill and make sure whatever skill you learn can be used at your current and your next future job. Don’t waste so much time on learning a skill that can only be used at your current job. Remember your current employer will be your previous employer in the near future.
- The major question you ask yourself at your job is not what you are getting. The major question you ask yourself at your job is what you are becoming. True success and happiness are not contained in what you get. True success and happiness are contained in what you become.
- Invent something new that increases efficiency and productivity at your current job. Make sure that you can use that invention in your next future job too.
- Do what you can and do the best you can at any job you land.
- Always do more than what you get paid for as long as the extra work you do will make you valuable at your current job and next future job.
- Work harder on yourself than you work on your job.
- Focus on self-training more than formal training. You can make a fortune if you make self-training part of your lifestyle.
- Read at least one article related to your field on daily basis.
- Reward yourself for small steps of progress. Those small steps can lead to big ones.
- Help colleagues to see themselves better than they are.
- Always be open for better opportunities. Jumping to a better job should become normal process and don’t be afraid to repeat this process.
- Practice public speaking as much as you can. Do whatever it takes to be good at it.
- Earn more money and spend less and invest the difference to become financially independent as quickly as possible so that you can work for joy, not for necessity.
What about you? Have you tried any of the above steps? If not, give it a try.