People often come to me and ask: “How do I make money? How do I become wealthy? How can I get a high-paying job? What’s the secret to becoming wealthy?”
Those are all good questions, but the answers to those questions are so much more complex than what most people anticipate.
Let’s start with a very basic and yet the most important principle in creating wealth: Value.
To create wealth, you must be able to create value. You cannot have the first without the second.
In my recent book, “Educated Wealth: The New Rules of Investing” I wrote quite a bit about Value and stated that: “Wealth is the creation of value between two parties. The most important word in this definition is value. Wealth is all about adding Value for yourself and others.”
To repeat what I wrote in my book “Educate Wealth:” “Wealth is the creation of value between two parties. The most important word in this definition is value. Wealth is all about adding value for yourself and others.”
Defining value
Now, you might ask: “What is value?”
“Value” is defined as an item that is something “of worth, importance, or merit.” However, this definition doesn’t even begin to scratch the surface of what the true meaning of value is.
“Value” may have a different definition from one individual to another, but in terms of creating wealth and success, Value is precious, has tangible worth and is sought after.
For a moment, think back on the most important item that you have ever purchased for yourself.
How expensive was it? You most likely didn’t mind if it expensive and you were willing to work long hours, take on another job, or maybe even cut down on additional expenses to obtain that item… To you, it was precious, had tangible worth and was sought after.
To you, the price of the item didn’t matter, the Value that the item brought to your life far outweighed the additional hours you had to work, or the expenses you had to cut.
But, how do we take those three factors of Value and convert it to Wealth or Success?
Simple. The same principal applies.
Building Wealth and Attaining Success is Built Upon Value
Money is the currency in which people pay for Value.
If you want to start making more money, start by adding more Value to the organization in which you serve.
That being said, if you have not had a raise in the last 1-3 years, you are most likely not adding enough value to the organization that you work for. If you have not received a raise in the last few years, ask yourself these questions:
- Are you doing the bare-minimum at work or are you truly adding value?
- Do individuals around you have a higher level of abilities or skill-sets?
- Are you working more than 40 hours per week?
- What additional responsibilities have you begun in order to help improve your value to the organization?
The reality is that if you are doing the bare-minimum at work, or you do not have the same level of skill-sets that others have, you are at an extreme disadvantage. More so, if you are not adding as much value as you possibly can you will never attain the Wealth or Success that you desire.
Obviously, this kind of success does not happen overnight. Creating Value takes time and lots of effort.
Steve Jobs started Apple in his garage. Walt Disney drew his first version of Mickey Mouse in a rat-infested low-rent room. But, people fell in love with the first Macintosh, loved their experience of it, and preferred to pay a higher price for it rather than other less expensive computers. The Walt Disney empire that is represented by Disneyland today started with creating a lovable character that would warm the hearts of moviegoers and make them dream of a better place. Both of these individuals added an incredible amount of Value to the experience that their users had. You should try to embody that same type of experience.
So what can you do to start adding more Value?
- Take on additional responsibilities around your office
- Learn new skill-sets that other individuals your organization do not yet possess
- Get used to the idea of working more than the minimum hour requirements
- Constantly search for ways to add more value to the organization and foster goodwill.
Don’t begrudge your company or boss during this process. Adding value is an investment in your future and will help you display the kind of responsibilities that you’d like to later wield. By adding value, you are expanding your horizons, gaining experience, and obtaining a better understanding on how your organization is run.
Continue to contribute, and pretty soon, you will stand out and be noticed. You just might get a promotion, a raise – or an even an offer to join the competition with a far better compensation package.
Recognize value, provide it, build on it, and increase it. That’s just one of the many ways that you can increase your chances of obtaining Wealth & Success.
To paraphrase Albert Einstein, “Do not aim for success, but aim to provide value.”
To Your Health, Wealth & Happiness,
Draye Redfern
