Monday, June 05, 2006

> Income depends on outcome

If you want to increase your income, simply increase your outcome.

Your outcome is the work product that you produce. If you're a nurse, it's the number of patients you take care of. If you're a graphic designer, it's the number of visual solutions (logo, brochure, website, etc.) that you create.

Your "work product" can be a service performed (e.g. a hair perm, if you're a hair stylist) or an actual product (e.g. a report, if you're a consultant).

Whatever your work product is, if you can find a way to increase its quality or its quantity, then you are on your way to becoming rich.

The reason why most employees don't get rich is:
  1. they don't know what the outcome of their work is (i.e. they just do what their job description says)
  2. they don't use creativity to improve the quality or quantity of their work product
  3. they just do what they are told, without exercising any sense of initiative ("Hey, that's not MY job!")
  4. their work product depends on members of the team, who may not be as motivated as they are
  5. they never bothered to learn about quality control, management, creativity, leadership, innovation, etc.

The fundamental economic mistake of most employees is to treat their job as "just a job," when it is in fact a platform for continuous self-improvement.

The key to success is to relentlessly study what you do at work so that you can continuously produce work products of higher quality and/or quantity.