How To Increase Your Income

Many people feel that they don't earn enough money, which begs the question, how do I make more money?

The philosophies that I draw from vary widely, but when it comes to money my two main points are this:

• Earn as much income as possible
• Retire as soon as you can

So in this post I'll focus on increasing your income.

My go to mentor when it comes to making money is none other than the man, Grant Cardone. I recommend checking out his material if you want to be inspired to take care of your family by making money. 

I'm going to lay down 3 tips to increasing your income while working for an employer.

1. Make sure your employer is able to provide you with opportunity if you earn it
2. If you have targets/KPIs at work, you should be aiming for at least 2x the minimum target, because you WILL fall short
3. Never get defensive with clients or your boss

Let's expand a little on these points. 

1. Make sure your employer can provide you with opportunity: several years ago I was stuck with a hard choice to make - stay in a great job that was never going to pay me well, or gamble it all and take a job that I knew would reward me for my efforts. I went with the latter and it was better than I had imagined. My previous job I made it clear I wanted to move up the chain and I dominated every other employee in terms of effort. It was noted, but the opportunity just wasn't available. I moved on to a fast paced,  growing company, took a slight pay cut, and within 6 months received a 66% pay rise. Make sure your employer has the money to pay you; check how other employees progress and is either slow or fast, if it's slow you might want to save that job for when you're transitioning to retirement. 

2. If you're lucky enough to have KPIs and targets at work (lucky because you can work to achieve your desired income), then you should always be aiming for at least twice what the minimum target is, and at least for the maximum target/bonus. Work backwards and figure out what needs to be done to achieve this and keep in mind, you will always fall short of your target. This is why you must aim higher than what is needed. When you hit minimum bonus, then you are directly rewarded for every achievement after that: that is where you get paid what you are worth.

3. Never get defensive with clients or your boss. If your boss says your shirt is terrible, tell him you thought the same thing and you regret buying it. Never get defensive or try to justify what you've done.

When a client tells you that they expect better from your company and they'll move on if they don't get better service, tell them "absolutely, that's totally reasonable and I would expect you to do that" and then tell them why they're wrong, if you need to get control back. 

So why not stick up for yourself? Well first of all you need to "stop the argument"and get on the same page, agreeance. What can I do to help? Let them know you want to do what you can to help, because you do! They may be demanding way more than is reasonable but you still want to help get things done. So first you need to establish common ground, from there you can state your case if needed, but you need to be on the same team first. 

Put these three tips into action and no matter what industry you are in,  you will see an increase in income that will far exceed your expectations. 

Don't forget to follow me on Twitter @EarlyRetireAus and leave a comment. I'd love to help you out. Do me a favor and share this. 

Peace. E.