Everybody has the capacity to earn.No one is absolutely an exemption. Fresh entrants to the labor pool, regular employees or startup business owners – all have the common denominator. So whatever business you are engaged in now, read through and learn more.
7 Ways To Increase Your Earning Potential
1. Enhance Your Speech Power
Nothing makes a better salesperson than an effective speaker. It may already be common knowledge, but one can never go wrong by taking concrete steps in learning and improving public speaking skills.
Steve Sammartino, in his article “10 Ways to Significantly Improve Your Income” shares that “Our ability to sell ourselves and anything verbally is still the number skill in business. Anyone who can speak in private, can speak in public – it just takes practice.”
2. Be a Prolific Writer
The advent of blogging has offered a great opportunity to tell the world about the business. This helps build reputations to make one an expert. Sammartino’s personal experience has earned him a lot of economic benefits. I could not agree any less in this respect. With business blood running through my veins, blogging has expanded my knowledge horizon in a lot of unexpected ways.
3. Stay Healthy
In a multi-player study of health and productivity as a business strategy, Loepkke, R. et. al (2009) concluded that “A strong link exists between health and productivity.” To learn more about the study, read here:
Indeed, health is important for many reasons. In the context of our business, a healthy body is directly proportional to productivity. When our body is healthy, our mind works better. This translates to better performance. People in the marketing niche could easily pick these traits up, resulting in trust and confidence in what we can deliver for them.
4. Return to the Basics of Proper Grooming
“How we look is an asset”, says Sammartini. As cited in Businesstown.com “Appearances count, not only in first impressions, but also in ongoing interactions. In his comprehensive research on communication, sociolinguist Albert Mehrabian found that in a face-to-face encounter, 7 per cent of a verbal message comes from the words used; 38 per cent comes from the vocal tone, pacing, and inflection; 55 percent of the message is transmitted by the speaker’s appearance and body language.” So groom and dress well.
I want to be straightforward by saying that valuing self-respect is essential to business. The way you treat yourself is a direct reflection of how serious you treat your business. So, if you mean to do business, dress up smartly. You will send the message that you do not take your customers for granted. It doesn’t have to mean buying expensive clothes. It means being in the right suit at the right time.
5. Work Hard to Improve Yourself
Self-improvement takes on the core of improving performance – whether in business or on the job. You will be amazed at how the results just come in automatically.
6. Invest in self-education
Investing to educate oneself has been a time-tested method of self-improvement. It has a profound impact on productivity and earning capacity.
Sammartino suggests that you allocate 10 per cent of your income on the self education. “In a world of rapid change, this is not a choice but a must. This is the ingredient to continued self worth and value. It pays for itself many times over”
7. Learn a foreign language
Differentiate yourself from the crowd by adding that one impressive quality – speaking another language. You will be surprised at the opportunities coming in. That would lead you to become a better earner than you are in your current state. As an example, a multilingual call center representative is paid higher than the regular ones who speak only a single language. Meanwhile, how does offering a language tutorial service on the side sound to you?
8. Be Serious about Saving
When it comes to appropriating the amount of your income to savings, you need to treat savings as you would with regular obligations like payments for utilities.
Sammartino advises that you “Keep 30 percent of your income to be invested. Do this before any expenditure occurs at all. Put 10% into active capital (your own entrepreneurial ideas). Put 10% into passive capital (shares, interest bearing deposits, other people’s business ventures) and put 10% back into society – this should be defined by yourself. It takes far less than people think of the compound benefits of such a simple financial strategy to accrue.”
There are still a myriad of ways that we can do to increase our income. I am sure that you have a lot to share too, perhaps, it is something that you have learned out of your personal readings or experiences.
It would be great to hear your insights on the 7 ways to increase your earning potential. Share in the comments below.
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