How do you make more money?
Lately I have been hearing a lot of debate on whether College is worth it. You hear questions about the return on your investment. At the end of the day there is an age-old question. What does it take to make more money?
I have had a career where I have acquired advance education, certifications, career changes, been in management and now entrepreneurship. Here are some factors that can control how much money you make.
We have all heard the term supply and demand. Your industry is either growing or shrinking, thus impacting the demand for work. The cyber security industry is growing and there is a shortage of workers, and that is why you are seeing higher salaries. This is just one example, we see this trend in the skilled Trades.
You’re either a commodity or asset. Do you generate revenue for your company? That simply means do you contact prospective customers and influence them to buy something from your company. Yes “sales” Sales is critical for any company just to survive, so it’s generally a high priority role. The more you sell the more you make. Leadership roles are also position’s that allow you make more money. A leader that has the ability to develop other revenue generators is not only valuable to the company but will normally make more money. Roles that require specialized skills or ones where your responsibilities allow companies to reduce their expenses.
Acquiring the qualifications for jobs that are in demand will certainly allow you to make more money. Not all education is equal. A master’s in social work has different earning potential than an MBA with a focus on finance with career aspiration to work as investment banker.
Employees who are high performers are very important to their companies and will generally make more money. Companies recognize that their best employees have the power of choice, and don’t want to risk losing them.
The more people know about your skills and success the stronger your brand, the more opportunities. How do you do that? You can set up a website highlighting your accomplishments. Leverage LinkedIn blogs, video, comment on posts will all increase your reach. We are in the show me economy, https://www.linkedin.com/pulse/show-me-economy-keith-williams/ You have to continue to network because the best opportunities come from the relationships you develop.
BONUS Wealth Building
The ultimate method to making more money, is to put your money to work. Make smart investments such as real-estate, stocks, and a side business. I was not the best math student, but I know 2-3 revenue sources are better than 1.
I think all of these factors will help you increase your income, but it’s important to have self-awareness so you understand your gifts and strengths. Self-awareness helps you to ensure that you position yourself in environment compliments how you work. This will make you happy and allow you to make more money. It does not get any better than being happy while making more money.