The 3 Steps to Increasing your Worth
How many times have you been doing your job and thought to yourself, “I deserve more money for the work I do! They should be paying me more!”
Times are getting tougher for people, the cost of living is increasing, inflation is ramping up, and we all want to have a better quality of life.
And the topic of retirement… that’s a big topic on its own. For example, in a poll done in 2014, 40% of Canadians were counting on an inheritance and 34% hoped to win the lottery. Those are some sobering numbers that highlight the need for more income.
(It’s also a strong case for some drastic change, but that’s a different topic!)
My industry is no different from whichever industry you may be in. It has the consistent drive for making more money for the work we do. And while this isn’t good or bad, and it is definitely not greedy to desire more, it can showcase a destructive mindset that can negatively affect our lives. This mindset can be summed up as:
People always want more, but they don’t always know what enough is!
A lack of goals, value and vision create a thought-process where regardless of how much money you make, it still isn’t enough. We don’t set adequate metrics for where we want to be, what we are worth, and what we want in the future.
To help educate new professionals in the field, I break it down into a simple three step process based around helping them understand their worth.
1. Know your Worth
Knowing what your worth is more important than ever as we will run into people who challenge it. People love discounts and the coupon mentality is alive and well in most places. It’s not inherently wrong, as we all love to save money where we can, but it doesn’t mean you need to be the one always compromising your personal self worth.
If you don’t understand what your Worth is, then how can you ever feel confident in accepting your current hourly rate or salary? How could you possibly feel comfortable charging more?
Knowing your worth isn’t as simple as knowing what competitors charge, but it is a good place to start. If you are in private business, it’s simple to see what similar services charge, and while you are doing this, see what makes more expensive services more valuable.
Now you need to become comfortable with the idea of accepting money from people for your services. For some, this isn’t easy, and it may be a good time to begin some personal development by talking to a mentor, a coach or by taking courses to encourage growth.
2. Increase your Worth
Increasing your personal worth isn’t an easy step as it will involve more uncomfortable growth. But, if you want to be worth more, you will need to think differently. If you want a different result from other people, then you will need to think and act differently.
There are only two ways to increase what you can earn in your career:
- Improve the value that you can provide to your customers or employer by levelling up both your personal and professional skills.
- Take action on those newly developed skills and capabilities to provide more value to what you offer.
Essentially, you need to make your time and contributions more valuable to those who are willing to pay for your services. This isn’t just technical skills, but also skills that can make you a better person or part of a team.
3. Prove your Worth
This is the the most important part the equation… prove that you are worth it. Whenever you increase your Worth, you will have people challenge you. Have you ever heard any of these statements?
- “Who the heck does she think she is?”
- “What makes them so special?”
- “He’s just greedy and selfish!”
This is exactly when the jealousy begins, and people begin to challenge your Worth. This is also when you can smile and be kind to them, as you are beginning to grow beyond their personal roadblocks.
When people challenge your growth, it usually has to do with their own insecurities. It’s a self-reflection on their part, and it shows that you are doing something they could only hope for. It’s simply not their time to grow yet.
But this isn’t their story. It’s yours.
Remember this isn’t a one and done process, increasing your Worth is a life-long endeavour. Re-evaluate your Worth consistently, and you will be amazed at what you can accomplish.
Being conscious of your goals and continually improving your self-worth will help you achieve your goals faster and live your life the way you want.
It’s the only way to write your story.
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