Ever wondered why people struggle to earn more money in spite of working hard? Money seems to be a subject that most people do not understand. This is simply because people weren’t taught about money earlier in their life. In this post, I will share some principles that you can use to earn more money.
Money earned is a by-product of value creation. This however doesn’t include people who make money unethically or illegally. In my case, I’m referring to service provision or selling products. This principle means that the more value you deliver, the more money you get. Money does not go to the people who need it the most. In fact, money doesn’t care. It is neutral. Money goes to people who know how to multiply it. Here are simple moves to help you earn more money.
1.Add Value to Things
Say for example you bought a property. Ask yourself what value you can add to it. Maybe you can renovate the kitchen, bathroom or decide to paint it. If you are thinking about increasing the value of the property, what happens is that you can now get more rent if you decide to rent the property or you can get more money if you decide to sell it in the future. In the case of products you are already selling, you can add stronger guarantees and bonuses not offered by your competitors. For services, think about some add ons you can add to your services without breaking a bank yet has a high perceived value to your clients.
2. Add Value to Processes
Think about middle and top management in an organization. All they do is map the strategies. What they are mostly doing for an organization I adding value to the process. They are looking at different processes within the company. It could be a hiring process or an operation process. Whatever process that they are using to run the business, they are looking for ways to add value. Say you are working at a company and most people at a lower level are only doing what they are supposed to do. Most people never ask themselves how they can achieve more with little resources. More employees just do the bare minimum to avoid getting fired. This is not what you want to do if you want to earn more money. You want to add value to the process.
3. Add Value to Sales and Marketing
Sales and marketing are revenue-producing activities within an organization. It doesn’t matter whether you are employed or you are a business owner. Just look around and see what value you can add to your sales and marketing. For example, if you are in sales and your closing rate is one out of ten. Every ten prospects you talk to you close one. It’s okay. But what if you could improve on that and close at a higher percentage.When you increase your closing rate to say two out of ten, your income doubles.
If you run a website, Facebook or Instagram page and decide to improve on the layout and now you are converting more clicks and views to leads and more leads to sales. All you’re doing is adding value to sales and marketing. If you have a sales team, by training and equipping them with better skills and follow up scripts, you are adding value to sales and marketing. This is basically what a sales and marketing manager does.
4. Add Value to People
Your network is your net worth. This simply means you have a network of like-minded people from who you can seek help. A network that could give you assistance, advice and help when you need it. A lot of people ask how they can build a network especially if they are starting from scratch. Contacts are not something that you have. It is something that you go out and get. The only way you will get contacts is by adding value to people to people’s lives before you ask for anything in return. But then some people do not have any value in return to add to these people’s lives. It is a problem if you do not have any value that you could add on.
If you want to build your network, you need to invest in it. Meaning you need to offer something that could help. That is how trust is built. Think about how you can add value to the people around you. You want to dig your well before you are thirsty.
5. Add Value to Yourself
This is the most important one. This simply put involves acquiring new knowledge. It can be through reading books, listening to podcasts, seeking mentors and leveling up your mindset and skill set. It may be joining a class that will teach you how to communicate better. Maybe it is learning social media and technology so that you can market yourself, your personal brand or your service better. It could be working out so you could have more energy. Maybe it is making some small adjustments within your diet so you could feel better about yourself.