- Five ways to increase your income.
Now maybe you're working at a job right now
or maybe you run your own business.
As a global educator and a mentor of mentors,
today I'm gonna teach you five proven ways
to increase your income, both from an employee
perspective as well as from an entrepreneur perspective.
I also know, there are fans of my work
who are sharing my videos on WhatsApp,
I want to thank you.
And what I want you to do is I want you
to connect with me through my Instagram @danlok
and DM me and DM my team.
I might have a surprise for you.
Just acknowledge what you have done.
Way number one to increase your income
is to become more valuable as an employee.
You see, if you want to radically increase
your income, you must make yourself more valuable.
I always tell my team members that you don't
have to beg me for your paycheck or pay increase.
At the same time, I'm not gonna beg you to do your job.
I can tell you that one of the biggest challenges
as a leader, as a CEO of a company
is to finding good people, finding enough
good people to launch new projects or manage
any of the profit generating projects that we have.
The right companies would always more than happy
to pay you above average pay if you are willing
to put in the above average work.
You see, most people, they just
work hard enough not to get fired.
They do the bare minimum, they never go the extra mile
because they treat what they do as a job
instead of a career, but not you.
So I want you to ask yourself these questions.
How can I become more valuable as an employee?
How can I add more value to the company?
How can I become irreplaceable?
How can I bring in more revenue?
How can I work better as a team member?
How can I improve myself?
What can I learn?
If you focus on that instead of just treating as a job,
you will become more valuable.
And once you do that, what you also
wanna do is advertise your worth.
I don't mean like taking credits.
I'm talking about telling people,
hey you know what, this is what I'm working on.
This is what the problem that I've solved for the company.
And sometimes, when you're working with team member,
the right company, you might want to also
give some credit to your team members.
Let them take some of the credit too.
So you work well as a team.
When the time is right, then you can approach
your manager or the boss, the right kind of boss,
and you would tell them, hey you know what,
here's what I've done, here are the results
I've created for the company.
Backed by your track record, backed by your performance.
Then you can ask for more pay.
That's how you increase income.
Then also promise them, once you get the increase in pay,
what more value, what more things
are you gonna do for the company after in the near future.
So that's the very first way to increase your income
and that is to become more valuable as an employee.
The second way to increase your income
is to move into your company's profit stream.
You see, there are three kinds
of jobs in the business world.
The first kind is what I call technical jobs.
I'm talking about the legal department,
the accounting department, the financial department.
Those are the technical jobs.
The second kind of jobs is operational jobs.
I'm talking about customer service,
I'm talking about product fulfillment,
or sometimes some positions
in the accounting or finance department.
The third kind of job is what
I call revenue generating jobs.
These are the rainmakers for the companies.
These are the people, the team members
that contribute directly to the company's bottom line.
Who am I talking about?
I'm talking about salespeople, I'm talking
about marketers, I'm talking about copywriters,
I'm talking about the leader who leads the team
or the employees to produce revenue for the company.
You notice operational jobs usually in the corporate world,
they are the lowest paying kind of category
in the corporate world.
Why?
Because those jobs could easily
be replaced by somebody else.
They can find people to replace those positions.
And if you do good, do a good job as an operational
person, you make good money, if you do a great job
in those positions, you also make modest pay raises,
but you'll never make the money that you want.
What you wanna do is you want to be
the rainmaker for your company.
You wanna find out how money is made
within the organization.
I use a very simple formula, and that's called
a 10x value formula, or for bigger company,
it could be 20 to 50x value.
What it means is if you are the revenue generator
for the company that you work for,
you want to deliver more value.
Let's say you want to make an additional $25,000 a year.
You wanna find a way to add in a value,
to increase the company's profit by $250,000 a year.
Then it's easy for you to get that 25k.
Now for bigger companies, it could be 20,
it could be 50 times, because they have more expenses,
more overhead, more infrastructure.
But for high growth company, if you pick the right company,
the 10x is very simple.
You wanna make $100,000 more for yourself,
find a way, develop your skill,
help the company to make an additional
million dollar in profit, and you'll get your 100k.
It is that simple.
So you can't just say, oh I want to make more money.
Find a way to become the leading revenue generator
for your organization.
The third way you can increase your income
is to become an intrapreneur.
What do I mean?
It means that you become an entrepreneur
within your organization.
You are still an employee but with
an entrepreneurial spirit.
I have a number of intrapreneurs in my company,
in my organization.
It means that they are utilizing my brand,
my resources, maybe my capital,
maybe my customer list, to start a project.
It could be initiative, it could be a business
within a business or a brand within a brand.
They're basically acting as mini CEOs
within my umbrella, my company.
So if you've got the chops, if you can deliver result,
and you are creative, you can approach the right CEO
and say, hey you know what, I've got this idea
and I believe I can run with it.
I'm gonna run the whole thing.
All I need is just a little bit of help
from the company, so if I could take off,
you know what, I'm willing to share
a majority profit with the company,
but let me kinda do my own thing
and be a little bit entrepreneurial.
This is a very good way to quote unquote start your business
and increase income because now you're not
going out there in the fucking harsh world
and starting from scratch.
You are exercising your entrepreneurial creativity,
your spirit, but at the same time,
you're still within the protection,
kinda under the umbrella.
It's a very powerful way to start your business.
I'll give you a perfect example.
Many years ago, I had an employee working for me.
Then he came up to me one day with the idea,
"Hey Dan, I think I could lead this project.
"Is it possible that you'd let me run with this?
"And I just need coaching from you,
"maybe let me market to the list,
"and give me a little bit of resources.
"I don't even need a ton of resources.
"I can manage this."
I said okay.
So then he basically started business within my business,
and he ran with it, and we started off the relationship,
he owns 10% of that company, I own 90% of it
because I funded most of it.
He didn't put in any money, he only
put in some small equity.
And we set the goal if we hit certain milestone,
I would up his percentage.
So we hit certain milestone, he'll get 20%,
30%, 40%, eventually 50% and so on.
And we did.
We did.
We launched that, he did 90% of the work.
I just give him some coaching from time to time.
He was an intrapreneur.
And we hit certain a milestone,
from his percentage, from 10% to 20 to 50,
to eventually actually 80, and eventually
at the very end I actually sold all my shares to him.
He owns 100%, I'm very proud of that,
he owns 100% of that 'cause later on
my career has changed and I no longer
wanna focus on so many little mini projects,
I thought, you know what, you do so well
you're running the business anyway,
there's not a ton of value that I could add
and it doesn't fit my overall vision,
so I said here you go.
So he bought me out, and now he runs
a little successful seven figure business.
I'm very proud of him.
He's a perfect example of an intrapreneur.
That's a very, very good way to increase your income.
The fourth way to increase your income
is to develop your high income skill.
Now I define high income skill as a skill
that can make you $10,000 or more per month
beyond your job and beyond your business.
The beautiful thing about high income skill is this.
Number one.
Notice, I said high income skill, not a high income job
and not a high income profession.
You see, when you have a high income skill,
skills are transferrable, profession is not.
Even though maybe you're making high income,
but it's in a certain vertical and in a certain profession,
once you jump out of that, your income drops.
However, high income skills, you can combine them.
You can combine different high income skills
in one profession to dramatically increase your income.
I've helped thousands and thousands of my students
around the world to develop their high income skills
without college degree and in a matter of weeks,
not in a matter of years, just like college.
If you wanna find out more, click the link below.
So that's the second beautiful
thing about high income skill.
You don't need years to develop your high income skill.
The third thing that's beautiful
about high income skill is this.
That your worth is not dictated
by your employer or your company.
It's dictated by you.
How much you make, it's all determined
by two things and two things only.
Number one, your skill level.
Number two,
(balls clacking)
your perception in the marketplace.
How the marketplace perceives you.
Now if you wanna find out more,
I made a video on the various high income skills
that you could develop today, click on the i button above
and find out more.
(balls clacking)
Number five.
The fifth way to increase your income is to use
your high income skill to start a side business.
So now you have your high income skill,
assuming that you're making at least $10,000 a month
or $120,000 a year.
Now you can use that skillset that you have developed
to start a side business, to develop
that secondary stream of income.
Another stable income stream.
Example, let's say one of your high income skills is
search engine optimization.
You know how to optimize websites for Google,
so you get more traffic.
Let's say you're charging money,
good amount of money for that.
You can now use that skill to start, let's say
your own eCommerce business, to sell your own products
and services on Google.
Or, let's say your high income skill
is Facebook advertising or Facebook marketing.
Now you can also use your Facebook management
and marketing skill to start let's say an affiliate
marketing business where you're promoting
other people's products and services
and get a commission in between.
You see how that works?
That's the power, once you have the skillset.
So those are the five ways that you can use today
to increase your income.
Now, comment below, which one resonates with you the most?
Pick one.
Don't get greedy, don't try to do all five,
just pick one.
If you want to double or triple your income
in months and not years, and you want
to find the most effective way of doing that,
click the link below and join me
for a special training where I'm gonna teach you
exactly how do you do that, how do you
develop that skillsets and how do you
get it out there in the marketplace,
so you can increase your income in minimum time.