The SECRET Formula to Increasing Your Income
I was broke until I discovered this secret formula I'll share with you.
Paycheck after paycheck, there was too much month at the end of the money. I was scrambling to pay the bills and student debt. I couldn't go any further.
Only Jesus Christ could save me.
He said that the greatest among you shall be a servant (Matthew 23:11). This was the secret that changed my life. All I had to do was serve.
The only way you can attain more money is if you make a bigger impact. The more impact you make, the more income you earn. Impact equals income. To make a greater impact is to offer amazing service.
Service is the key.
We've all heard people say, "My parents worked all these years, but still had little to show for it." It's not that these people didn't offer a good service or make an impact, but it's because they neglected the truth of this SECRET formula.
Earning money is simple and you should remember this formula for the rest of your life. Here it is: The demand for what you do, your ability to do it, and the difficulty of replacing you will determine your income.
Let’s break it down into 3 parts:
1. The Demand for what you do must be high if you want to get paid. If you’re buying a 24 pack of water and selling it in your door to door in your neighborhood, don’t expect a fortune. Even though it may be an excellent start to earn a small profit, it isn’t in high-demand since most people keep water readily available in their homes.
However, if you are selling bottled water to tourists who were hiking along an enduring path under a 100 degree Fahrenheit sun on the Great Wall of China, you may be able to charge $5 or even $10 per water bottle. If there were hundreds of tourist on this path and you had no competitors, you would walk away with hundreds or thousands of dollars per day.
If you want to earn more money, find people who have a demand. You can also create one if possible. Before the elevator, everyone was taking the stairs. The man who created the elevator also created demand. You must be in demand if you want to earn top dollar.
2. Your Ability to accomplish the task must be the best if you want a higher income. If you were a mediocre worker, people won’t depend on you or expect much of you. On the opposite end, if you were very reliable and capable of handling more work, you will be trusted for your services.
Let's take an example of a server at a restaurant. We'll assume that the average server at a particularly busy restaurant earns $100 per 4-hour shift. If John is used to taking 10 tables per night with average service, he may earn $100.
However, if Tina can handle 10 tables with superior service, she may earn $150, which is $50 more than John. Her personality, dependability, and consistency allowed her tables to enjoy the experience. Your skills will pay the bills.
If you’re looking to earn more money, you’ll have to increase your ability to deliver your product or service in an exceptional way, even though the immediate rewards may not be apparent.
3. The difficulty of replacing you must be high. If you’re as aspiring cashier, you should not expect to receive a substantial amount of income. In fact, you would be highly replaceable that the job may likely already have a list of people waiting for the position.
Conversely, if you were a superstar athlete, then the difficulty of replacing you will be high. You would get a maximum contract for over 100 million dollars in the top 4 major American sports. The people who have built a reputation for doing superior work will be rewarded the most.
For example, Ben Carson is a famous neurosurgeon who was the first to successfully separate a pair of conjoined on the head. Obviously, there aren’t that many people who would be willing to attempt that feat, but Dr. Carson was able to do it and his income has reflected his highly irreplaceable service.
Is there something that you can do extremely well that no one else can do that is in demand? Do you have the ability to offer impeccable service? If what you do with great ability is highly demanded and hard to find, then you can be expected to earn the most in your particular industry.
Remember--Money is the harvest of your production!