Dear High Achiever,

IF YOU BREAK DOWN your current annual salary or annual commissions, what are you worth per hour in the marketplace?

If you stopped and calculated the number, you probably had one of three reactions:

Ouch…
Cool…
or
I Quit!

So now you’ve got that number. My next challenge for you, and it’s an important one to ponder, is:

• Are your daily actions and behaviors of less value than your hourly rate?
• Or are they of greater value?

Provide more value and be valued more. The marketplace doesn’t care what you need. It’s the marketplaces perception of value that counts. The marketplace pays you the value of the product and service you provide.

Let me give you an example: If you’re a commissioned sales person with the potential to earn $250,000 annually — but you’re doing activities that a person getting paid $7.00 an hour could do for you — you need to re-evaluate your activities. You don’t get to put “potential” in your pocket.

Speaking of market place perception: When was the last time you drank a “New Coke?” Oh right, that was 1985 when it was introduced and wildly and widely rejected by the public. Got “Classic Coke?”

Let’s get back to your money and your hourly rate.

The marketplace doesn’t know the word entitlement. It doesn’t exist.

Since its graduation time, I’m reminded of the classic story:

At the end of a job interview, a human resources representative asks a recent MBA graduate, “What starting salary are you looking for?”

The grad replies, “In the neighborhood of $150,000 a year, depending on the benefits package.”

The interviewer says, “Well, what would you say to a package of six weeks’ vacation, 20 paid holidays, full medical and dental, company matching retirement fund to 50% of salary and a company car leased every 2 years — say, a red Ferrari?”

The MBA grad sits straight up and exclaims, “Wow! Are you kidding?”

And the interviewer replies, “Yeah, but you started it.”

Graduating from college, grad school or med school doesn’t entitle anyone to $150,000 a year, a new Ferrari and a paid vacation or any of that. Remember: If you want to earn more you must provide more.

Personally, I don’t believe in being compensated for my time; I believe in being compensated for my results. Now don’t get me wrong, my time is very valuable and I absolutely put a high price tag on it. When I am booked to speak at a seminar or conference, I have a fee.

But my mindset in business and in life is that it’s best for all concerned if the bulk of my compensation is linked to the value and/or the revenue that I create or generate. I want to be compensated for my results.

That arrangement focuses my concentration. When that’s the way the deal is structured, all of my activities during the course of my day during “money-time” are in alignment with providing value and driving revenue through sales and service.

• When I provide a product or a service to one or many and they are ecstatic about the value, I get paid.
• When I don’t bring value to the marketplace, I don’t get paid.

You’ll often hear people argue about the amount of money that professional athletes make. I agree that some of the salaries are ridiculous, so ridiculous I wish I was earning that much too!

It’s simply who supplies more. Who provides greater value. Who creates bigger and better results. Just ask the television networks.

More people would be watching the NBA finals if Lebron James and the Cavaliers were playing Kobe Bryant and the Lakers. The networks could charge E-Trade more money for a 30- and 60-second commercial simply because more potential consumers would be watching.

More people watch a golf tournament when Tiger Woods is playing. The television networks, ESPN and the world love Tiger Woods and he makes big endorsement bucks because he supplies more … provides high entertainment value … draws more viewers who translate into bigger and better results for advertisers.

What value do you provide? I want to challenge you to creatively think about how you can increase your value to your employer, your customers and to the marketplace.

FYI Takeaway: Raise your own bar by consistently bringing high value to the marketplace and you’ll surely increase your hourly rate, your net worth and your self-worth.

Make this Your Best Year Ever!

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