Thursday, January 17, 2008

The Law of Income

If you're in a job or self-employed and you personally have to perform the service, such as providing plumbing service, there is a definite ceiling on your income. Let's face it, there are only so many tasks a plumber can handle in a day. This is a limitation to your income. Never have a ceiling on your income.

The reason most people are broke or not earning adequately is that they don't deliver a lot of value in the eyes of the current marketplace. The important element here is deliver.
The Law of Income: You will be paid in direct proportion to the value you deliver according to the marketplace.


Many people have good ideas, good intentions, even produce good products or services, but either their value is not considered very valuable in today's marketplace, or they just don't deliver enough of it.

Marketing gurus have written volumes on what constitutes value for clients. They can be summarized into one sentence: The client perceives value when the benefit received is believed to be worth more than the money spent.
If you don't deliver a lot, you don't get paid a lot. So what determines your value in the marketplace?


Here are 4 income factors that determine almost the penny how much you will earn:
Demand + Supply + Quality + Quantity = $$$


Demand for your value means how much the marketplace wants it. You must offer a hot product or service which is in high demand.

The supply of your value reflects how much the marketplace already has of your product or service, how much readily available it is elsewhere.When supply is limited, value increases. In real estate, ocean-front property is rare and extremely limited, therefore it is higher in value than property inland. To up your value in business, you must provide something few others have, or do something in a way that no one else does.

A hot product may not be a good product. The quality of your value means how good your products and services are - and just as important - how good you are at your business. The higher the quality, in relation to the price; the higher the value.Here's a motto in business to follow. Do it well or don't do it at all. Make it great or don't make it at all.

The quantity of your value is how much of your product or service you deliver. This is the greatest challenge most people face. You may have an excellent product or service and you may even deliver it to the marketplace, but not in enough quantity.
If you want to get paid the best, be the best!

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