How to earn more money – is always a fascinating topic. Everyone likes to make money and more money.
Whether you are an employee working for someone or own a business or a self employed professional, I am going to share with you some serious tips on How to Earn More Money in Career or Business in Career or Business.
Also see : How to Start a Business with No Money
Actually this is a strategy consisting of a few steps. So let us begin
How to Earn More Money Step 1: Learn to Market Better
You may be one of the best executive in the Banking Industry in your part of the world. You are one of the few people who at the middle level have the combination of education and professional qualifications along with the experience in the banking industry. But if nobody knows you in the industry or except for your boss and the co-workers then how will better paying employers know that you even exist!
Let us say that you are in the business of manufacturing and selling office furniture. It hardly needs to be emphasized that you need to be known to potential buyers within the geographical region you wish to operate. Second, you need to sell them the furniture items by convincing the buyers of the advantage of dealing with you, the superior quality of your products and the attractive terms of business you are offering.
Overall the honing of your marketing skills and increasing your marketing skill is helping you to self yourself or your products and services at a better value to the employer or the client or the organisation. Secondly, your marketing efforts will help you attract more buyers.
The application of the principles of marketing shall also teach you how to sell your business project idea better to the bank or the investor – in case you would like to scale up the size of your business. Bigger size means larger business operations which shall be aimed towards earning more money.
How to Earn More Money Step 2: Make a Win Win Proposition
Marketing teaches you what the customer wants, prefers and needs. The insight into the customer’s psyche teaches you what is most valuable for the customer or the client. You can now create a preposition or an offer which the customer cannot refuse.
For example, if you are in the employment, you can approach your boss or the senior management that you offer yourself to be posted in Italy – as you have a degree in International Trade, besides you have been learning Italian language for the last 3 years. Your employers will notice couple of plus points in your proposal from which the organisation can get direct benefit. These are your training and experience in the company for the last couple of years – making you conversant about the products, policies and the systems of the organisation. Second, it is your academic degree which qualifies you for an international assignment in a foreign country. Third, you are already fluent in reading, writing and speaking Italian.
So you are a readily and easily available choice. Of course, the company would be happy to offer you much higher salary, extra bonus, position and perks over your current compensation package and position.
Similarly, if you are a business owner, you can set up meetings with your clients and ask them that ‘what extra’ or ‘what more’ or ‘what new’ you could offer them which will facilitate conducting of the business by them. A hypothetical case could be that one of your clients is an importer of voluminous items which has a lot of wooden packaging. While they may not know how to get rid of those wooden planks or smaller pieces of wood and for you it may turn out to be a free raw material. Only you may have to pay for collection and transportation to your factory.
Caution, you do not stop delivering what you are supposed to do as an employee. Instead you are exploring additional opportunities to bring value to the table.
Are these not excellent examples of Win Win Proposition letting you make more money!
How to Earn More Money Step 3: Ask for more money
Simply ask for more salary or ask for a better price. Yes, it is as simple as that. It is a normal human nature to hesitate and you simply continue to deliver at the price which was negotiated couple of years ago or your last increment came 2 years back.
This is a general human weakness which needs to be tackled at the emotional and psychological level. You may think that you don’t deserve to be paid more or fear that your contract may be terminated if you dare to ask for more money.
First convince yourself that it is possible and then try it at least. You may be amazed at the outcome of the positive results.
To sum up
Step 1: Learn to Market Better
Marketing will teach you how to add value to your product or service. In case you are in employment then you learn how to market yourself better and at a higher value as a brand.
Step 2: Make a Win Win Proposition
Offer a proposal which brings more value to the client or the employer and they would be willing to pay you a percentage of their additional gain to you.
Step 3: Ask for more money
Make it a habit to periodically ask for a higher price or more salary. If you don’t ask for the raises, nobody will come to you and voluntarily offer more money or more salary. Don’t limit yourself in your mind.
These are some of the very time tested methods and applicable in the modern times too.
Recommendations and Summary
Yet these are some very broad topics. You will need to personalize and customize them to suit your profession, present state of career and the industry you are in.
You are welcome to hire me as your personal coach to give you practical, structured methodology to help you earn more money and in a disciplined manner it shall be monitored too.
With me as your personal coach, you can begin to see results in 3 to 6 months which otherwise will take you up to 3 months.
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