Skill

The greatest asset you have is your earning ability. After graduating from school or college, on average, everyone in that graduating class starts at almost the same salary. How is it that a few years later, some salaries have increased much more than others?

It is skill that makes the difference. To boost your income, find out what skills you need to become the number one performer in your profession or field. Your focus is to become better at what you do and more knowledgeable.

How come someone makes millions per year while others make $10 per hour? The answer is simple: the skill and value they provide. It is also about the demand for your service, and quality and efficiency, that is the ability to do well. Skill in any performance, whether it be in sports or in playing the piano, or in conversation, or in selling merchandise is the critical factor in success.

It’s not uncommon today to hear about the CEO of a Fortune 500 company who earns over $100 million a year. So you know theoretically, what is possible. It may or may not be necessary or realistic for you to earn over $100 million per year, but it is certainly possible for you to earn a lot more than you are earning today by improving your skill-set.

In 2000, I got a job in Information Technologies. My salary was 335,000 Indian Rupees per year. My relatives in my village could not believe it. They were used to making around 30,000 Indian Rupees per year. They asked me, “Why are they paying that much? What do you do?”

These are the key questions you need to ask yourself:

Why are they paying so much to someone? What exactly do they do to make so much money?