The Enemy of Success is Delusion
Author and public speaker Steve Siebold has helped many people with their careers. His clients include Fortune 500 companies and his books are considered by many to be the gold standard in the field of psychological performance training. One important distinction that Steve notices between the middle class and the wealthy is in how they think.
“The average person believes they are far more competent at what they do for a living than they actually are. Many people believe they are overworked and underpaid, but this is rarely true. In a free market economy we are normally getting paid very close to what we’re worth.” ~Steve
I happen to agree. An employer probably wont pay someone $30/hour if the labor is only worth $20/hour. Workers are replaceable. If a company consistently overpays its employees then it won’t stay in business for very long, assuming all other market conditions being equal. The employee can make the same choice. If a pharmacist is being paid $20/hour but believes he is worth $30/hour then he is free to offer his professional services to another company. Since the labor market is based on supply and demand, it’s important to consider both sides when thinking about compensation.
Delusion vs Objective Reality
“The middle class thinker lives in delusion. But the world class thinker lives in objective reality because she knows that her compensation is directly related to the number or size of problem she’s solving for an organization. When she wants to make more money she asks for the opportunity to solve more, or larger, complex problems. Champions take full responsibility for their results, which includes the compensation they receive for the work that they do. So the first step in the process to become a world class performer and catapulting your compensation is to get into objective reality. The secret is to remove all emotion from this thought process and see what you do for a living strictly from the eyes of the people who pay you to do it.” ~Steve
I think that is pretty good advice. To really understand Steve’s point we have to think like astronauts and appreciate the gravity of what he’s saying. ? I have been leveraging my skills and experience over time and have literally doubled my income over the past 8 years. This noticeable improvement to my financial situation is very much proportional to the increased amount of value I am bringing to the people I conduct business with. When it comes to my full time job, I can confidently say that my employer would gladly triple my salary, if I can help them solve difficult problems that no one else can. 😉
The first step to live in objective reality is to start asking simple questions like how difficult or costly would it be for the organization to replace you? And then if you decide to make more money you can ask questions like what kind of new responsibilities or tasks you can take on to help provide more value to your organization? Having a discussion with the manager or the boss may help solidify some of these career goals. Being able to provide value to others is the most lucrative form of our human capital. We just need to focus on creating more value and productivity. The money will eventually follow. 🙂
Random Useless Fact:
It’s rude to disturb people when they’re eating.