Who would not like to be paid more? No one, we would all like to be paid more for the tasks we perform. So how do we get paid more? For that matter, why are some employees let go during a slow down while others are retained? The answer is a simple one. While some talk the talk, very few walk the walk. While some add value, others act as if they do. Never forget, in any profession, you are being paid for adding value. Adding value in everything that you do is the key to true wealth generation.
Becoming Indispensable
In any profession, you are being paid for what you are bringing to the table. The more value you add, the more indispensable you become to an organization as an entrepreneur or an employee. This is a simple fact that so many forget or just simply do not recognize.
For any organization, while things are going well financially, it is very easy to hide inadequate, bland or sub par work. But once the financials become more difficult in view of market conditions, it becomes more difficult to hide the mediocre. In tough market conditions, the mediocre is likely removed or replaced. To stay at any company and be promoted, you must add value.
Yes, favoritism can get you far, but actually being good at what you do and being an integral team member will always bring you farther. We all know that person who is indispensable, the person with the ideas, the glue that holds everyone together. Remember, for each position, if you are performing tasks that can easily be filled by someone else, you are dispensable.
Make yourself indispensable by finding ways to add value in whatever role you are currently in. You need not be in a top position, really any position will do. Even in the mail room.
Effort vs value
Do not conflate effort and adding value. For many, when we say add value, they believe this is a matter of increasing effort. It is not. You can add more effort, but effort does not always translate into added value. Remember, “work smarter not harder.” Working harder does not necessarily result in added value. If you work harder but does not add value, what is the purpose? You will be tired and frustrated because your added effort will not be rewarded.
Adding value translates to anything that impacts the bottom line. Whether that is by implementing new programs to mitigate risks, an action or program that improves the pipeline, directly improving sales through literally selling more or by improving moral such that the team works better and more efficiently. Ask yourself, how do you impact the bottom line? Are others in your current role doing what you are doing? If they are, you have a problem. Find new ways to separate yourself from others and make yourself indispensable.
Adding Value And Doing What Is required
In anything you do, seek to add value. Of course, at a bear minimum, perform your job at a high level and do what is required. If you are not performing at a high level in fulfilling your job requirements, you are in effect not adding value. If you are fulfilling your role, do more. Outside of what is required, find ways to add to the bottom line. Do not be a passive member of your team, always show others that you are thinking outside the box. Be assertive. This works whether you are working for yourself or employed by others.
When times get lean, if your are easily replaceable you will be replaced by someone that will accept a lower salary. On the other hand, if you are an indispensable asset that is continually adding value, you will be kept and continually promoted. Even if you are not kept and promoted, you will have options. You will be able to find another opportunity because your reputation as a person that adds value will preceded you. As noted before, favoritism can get you far, but talent, capability and a knack for adding value will get you farther.
Conclusion
Who would not like to be paid more? No one, we would all like to be paid more for the tasks we perform. So how do we get paid more? For that matter, why are some employees let go during a slow down while others are retained? The answer is a simple one. While some talk the talk, very few walk the walk. While some add value, others act as if they do. Never forget, in any profession, you are being paid for adding value. Adding value in everything that you do is the key to true wealth generation. Journey to Financial independence by continually adding value to the world around you.
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