Maximizing Your Earning Potential: The Two Fundamental Ways to Earn Money
Learn How to Excel in Your Niche and Impact a High Number of People to Achieve Financial Success.
In today’s society, money is the fundamental unit that drives us all. Unfortunately, a person’s worth is often judged based on their income, rather than their good character, traits, or habits. Although it’s not my intention to highlight the negative aspects of money in this blog, it’s worth acknowledging that our society cannot function without it.
Instead, I want to focus on two fundamental ways in which you can earn money, and provide examples to illustrate these points. By understanding these two concepts, you can work on improving your skills and create a unique value proposition that will lead to financial success.
Lesson 1: Your earning is directly proportional to the problem you solve.
Those who understand this statement know that they need to work on their skills to improve their lives and, as a result, earn more money. For instance, consider the example of a burger flipper versus a cancer specialist. The former works 14 hours a day, 6 days a week and earns a meager amount of money, while the latter works for only a few hours a week and earns more in a single week than the former can earn in a year.
One might think the amount of effort is disproportionate, but the critical point to understand here is that the specialist earns more because they solve a unique problem and are irreplaceable. The burger flipper, on the other hand, is not solving a unique problem and is easily replaceable.
Therefore, the lesson here is to find a niche that you can excel in, develop skills that make you highly competent and irreplaceable, and you will earn handsomely.
Lesson 2: Your earning is directly proportional to the number of people you impact.
If you are in a profession where creating a unique value proposition is not possible, aim to impact as many people as possible. Consider the example of a person who sells clothes at a local market. Neither the clothes nor the location is unique, yet they are still able to make a lot of money because the number of people they impact is significant.
Similarly, a travel content creator on social media may not produce 100% unique content, but the number of people they impact (outreach) is so high that they end up earning a lot of money.
To improve your earning potential, the lesson here is to make an impact on as many people as possible, thereby increasing your profits exponentially. By expanding your reach, you’ll be able to create more value for a broader audience, ultimately resulting in greater financial success.
Bonus: The best person is the one who can create a unique niche and impact a high number of people. Such individuals end up earning fortunes.
The table below provides an example that can help you determine if you should undertake a particular task.
In conclusion, money is a driving force in our world. While this can be discouraging, we must focus on ways to improve our skills, create unique value propositions, and impact as many people as possible. By following these two fundamental concepts, you can significantly increase your earning potential and achieve financial success.