To earn more money is a desire that transcends sex, gender, race and religious beliefs. It is a goal that very many of us desire to achieve. This post, adapted from a video by the Boss in the Bentley @Danlok,(see video here) lists five ways to increase your income. Here we go
1: Become more valuable as an employee: the biggest challenge employers face is finding good people to do tasks and handle projects that help achieve organizational goals. It is well known that most right-thinking companies are willing to pay more to the employee that offers more value & is more productive. A valuable employee will not have to beg for a pay raise, and if the present employer does not appreciate that value, a more discerning employer will.
2: Move into your company’s profit stream: there are three types of jobs in the business world: a) the technical jobs such as legal, accounting, engineering etc.; b) operational jobs such as factory workers, office admins, customer care and some workers doing technical stuff; c) revenue generating jobs which are roles that directly earn revenue for the company, the rainmakers of the company. The other two types of jobs; technical and operational jobs offer support for the revenue generating jobs like sales and marketing. To increase your income as an employee you need to find out how your organisation makes money and make that money for your organisation. Join the rainmakers that bring in the cash, be among to 20% in the 80/20 rule! Technical and operational roles are also important but the cash cows are treated as special.
3: Become an intrapreneur: this is simply having an entrepreneurial mindset while still being an employee. You can use organisation resources and information to start and run projects and initiatives; with the permission of the company of course; that increase your bottom-line and could even lead to running your own organisation. Intrapreneurs are very valuable because they think and act from the point of view of an owner and not just an employee expecting a paycheck.
4: Develop a high-income skill: please note we mean high income skill and not high income career or profession. Be among the best with a particular skillset and let your skill be evident in your organisation. High income skills include coding, writing, digital marketing, closing, photography etc.
5: use your high-income skill to start a side business. QED