In a free enterprise society who and what determines how much money we can earn in a given unit of time regardless of who you are, what you do, or the type of industry you are in? Do we get paid for the hour or the value that we generate through our craft?
There are several factors that will help us to clearly answer the above questions.
Value Creators
1. What you know: this includes your talent, skill, knowledge, specialization, and education.
2. Interpersonal skills: this also includes your level of confidence, personal appearance, and your ability to motivate and persuade others to understand you.
3. Experience: the more often you have achieved success and on large scales affecting hundreds, thousands or millions of people or businesses, the more valuable your work becomes.
4. Reputation: if your past employers say good things about you that helps, however if you bring about changes and impact an industry your value increases further.
When you look at these factors they lead us to ask, “what, and how much can one person produce in that giving unit of time”?
We then get paid or earn not by a giving work for an amount or unit of time but by the value that you generate or create in that unit of time. The notion that many people go around stating that “I make such and such per hour” is totally not true.
How much you earn is defined by how much value they have created in the unit of time or unit of work first, and second determines how much of that value they will receive in monetary terms.
We do not get paid by the hour, we get paid by the value we create or generate in the hour.
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1 comment:
Yes, I would agree with your comments in this post. The problem is finding what you do best and implimenting it while you are still earning a living.
To make the giant leap from an hourly to a value producer takes time, energy, focus and a mind shift at some point in your career into unknown waters.
All the best,
Mark
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