In today’s world, we could all benefit from earning more money; and nowadays most people are seek an additional income, often in the form of an extra job, as this is easier than finding ways to increase their hourly rate of pay.  However, life is for living – not just slaving away at a job, or business, for that matter.

This article looks at two simple universal principles that can help you earn more money by creating more value to a particular party – be that a client, customer or an employer.

CREATE MORE VALUE

People are compensated based on the value they create for a third party – whether that party is a person or organisation in the form of a client or customer, or an employer – it doesn’t really matter, because the universal fact remains… that at a fundamental level people get paid according to the value they provide.  

The value of an activity such as being an education attorney is clearly a lot higher than the value of an activity such as cleaning.  This is not to say that a cleaner is any less valuable as a person than an attorney, because a person’s value as a human being is way more than the job they do, the money they make, or the material possessions they acquire.  

It is, to say, however, that an attorney charging $350 per hour to defend against a serious allegation is creating more value to the person receiving the service than a cleaner being paid $10 per hour, as the end result they are creating is of less tangible value.  

In simple terms, if you want to earn more, you need to create more value in terms of the end result you are providing; as the more value you provide the more you will earn.

Look for ways you can provide more value or upgrade your career to one where the value you are offering is greater – as if you want to make more money, the only way to do this, is to create more value to someone that is willing to pay you for that value you produce.

LEARN MORE

There are two ways to learn; first is through experience and the second is through education.  Nowadays, formal education is much easier to access with many courses (both vocational and academic) available online.

There’s a popular saying that goes something like the “more you earn the more you learn”, and whilst this is fundamentally true, there are many people that drop-out of college and make more money than their well educated friends simply by selling things on eBay.  

It should therefore be noted that learning is not limited to academic education; indeed, if you were to learn how to invest in property, or how to master the art of influence, these skills are likely to get you much further in life, in financial terms, than having a generic degree.  There are plenty of well educated people working in minimum wage jobs, and oftentimes, you can find highly educated white collar workers attending weekend seminars on topics such as real estate investing, amazon trading, and digital marketing – in order to escape the rat race they subscribed to by going down a traditional academic route.

In summary, the trick is to learn more, but to ensure the time and money you are investing provides a decent return on investment – by enhancing your ability to provide tangible value to someone that is willing to pay for it.