Building wealth is simple. It is not rocket science. It doesn’t require luck, genius, special gifts or special connections. The principle of wealth creation is something everyone can practice; it does not require extraordinary smartness.
All you need to do to build wealth is to generate more income than you spend and then invest the difference. Nothing more!
Income is the lifeblood of wealth accumulation. It is a major factor in the equation of wealth creation. It is the take off point of every attempt at wealth building. Attempting to become wealthy without the flow of good income is almost an impossible task.
You Are Restricted By The Size Of Your Income
Your income size to a great extent would determine your lifestyle; where you live, where you shop, the school your children attend, the car you drive and many more are often influenced and determined by the size of your income.
Generally, it is the nature of humans to always want to improve their lifestyle; which most of the time calls for better income. The better your income, the better positioned you are to improve your standard of living.
Furthermore, your income size would determine how much you are able to save and invest. When your income is more than your expenses, you are in a better position to save the surplus for investment.
The Great Challenge
One great challenge a lot of people are mostly confronted with is how to increase the size of their income. Unfortunately for many, the only thing they know about increasing their income is to ask the boss to increase their salary. And if the boss says no, they are dejected and frustrated. The next thing is to hunt for another job.
There is nothing wrong in asking for an increase in salary. Asking for what you desire is a valid principle of success and achievement, if you indeed merit the request. And this is the catch, most people ask for what they do not merit or qualify for, and are often turned down. As a result, many people move from job to job in frustration, live all their working lives without fulfillment.
“Try not to become a man of success, but rather try to become a man of value.” — Albert Einstein
Money Always Flows In The Direction Of Value.
Listen, whatever you are earning as income is the measure of value that others place on your work or contribution. Your income is an expression of your value in the marketplace. Income will always be equaled to the value of service, or result or size of contribution.
Money will forever flow in the direction of value. Opportunity to make money and earn an income is always available wherever value is found. It therefore means to make money in order to create wealth, your focus should be on how to create and add value to others. This is very fundamental.
What is money? Money is simply an agreement about value, a social agreement to exchange value in a convenient way. Money is a measure of value that people place on goods and services. A Lexus car would be sold at a higher price than a Mazda car because of its value or the perceived value.
The Difference Is In The Value
Have you thought about why some people earn amazing incomes and others earn peanuts? One earns hundred thousand dollars a month and another within the same industry and possibly within the same organization earns five thousand dollars. Obviously, one is considered to be of greater value to the organization.
Please permit me to repeat this; the amount of money you earn is the measure of the value that others place on your contribution.
Value Creation Is Wealth Creation
The Law of Value Creation says, wealth creation is contingent on creating and adding value to people.
All wealth comes from creating and adding value to people. The more value you create in form of product or service, the more valuable you become, and the more income you earn. Income is generated through the sales of products and services that add value to lives. This makes providing great value the only valid road to great wealth.
Change Your Income Level
To change your current income level is not difficult at all. You basically have to bring more value to the marketplace. The marketplace is essentially interested in what value you bring onboard…and it rewards you accordingly.
Whether you own your company or you work as an employee in an organization, one truth you must embrace in your pursuit of wealth accumulation is that you get paid for bringing value to the marketplace; and the more value you bring, he more income you earn.
Your ability to bring value to the marketplace is therefore the paramount determinant of your level of income. Income generation answers to your ability to create and add value to your customers and company.
Your income level will change when you increase your value in the marketplace. If you do more than you are being paid to do, it’s only a matter of time before you start being paid more than you worked for.
Increase your value to increase your income!
“You get paid for bringing value to the marketplace, and if you’re not very valuable you don’t make much money.” -Jim Rohn
Become very valuable. I know you are of great value to your family and also in the sight of God. But you must be very valuable in the marketplace to earn great income. You must be valuable to your clients and organization.
How To Become Very Valuable In The Marketplace
The primary way to become very valuable in the marketplace is to become very good in your craft and calling to the point where clients find it very difficult to replace or disregard you. You must always be better than you were yesterday. Sharpening your skills regularly and learning better tools is the way to become more valuable in the marketplace.
“Your level of success will seldom exceed your level of personal development.”- Jim Rohn
Friend, constant personal development is a necessary step for growing your market value over time. You must commit to becoming more valuable by the day. You could go back to school to upgrade yourself. Alternatively, attend seminars, read books and listen to teachings on audio tapes to enhance your skills.
As a wealth seeker, you must make it a lifelong assignment to always look for ways to make yourself more valuable…….and the more valuable you are to your clients or company, the more money you make.
“Learn to work harder on yourself than you do on your job. If you work hard on your job you can make a living, but if you work hard on yourself you’ll make a fortune.” Jim Rohn
When you become better in your work or calling, the possibility of increasing the value of your product or service to your clients would be enhanced. You would be better positioned to bring more and better value to the marketplace. And this is what ultimately defines how valuable you are.
Therefore, it becomes imperative for you to enhance your ability to create and add great value to your clients or the organization that benefits from your service.
“As a man perfecteth himself in his calling even so doth his ability to earn increase.”- George S.Clason
It’s a new day for you.
To Your Prosperity
Thanks for stopping by and checking out Wealth and Riches! I hope that you are challenged and encouraged by the content.
One of the greatest ways for you to show your appreciation is through your comments on the site. Hearing from you and learning from you is motivation for us to keep going.
Please give this post your thumbs up as you mail it to your friends or share on any of these social networks!
And to share the acts of God in your business and financial life CLICK HERE.