| Your organization has hired you for the | | | | workplace as well. When you can do things |
| results you can achieve with your talents and | | | | that other people cannot do, what you can do |
| abilities. The organization believes that by | | | | has great value! Your skill is scarce! This |
| using those talents and abilities, you will | | | | creates a wonderful opportunity for you. |
| "add value." You solve problems, you help the | | | | |
| organization meet the needs of its clients, | | | | You get paid more for doing things other |
| you contribute ideas that are valuable, etc. | | | | people can't do! |
| Those types of things add value. | | | | |
| | | | Constantly learn new skills. Never stagnate |
| In order for the organization to give you | | | | Read books, attend courses, and build your |
| value-your salary and your position-it needs | | | | skills. Look for the "missing skills" in your |
| you to add value. It's that simple. | | | | company. Look for skills and knowledge that |
| | | | are relatively scarce in your society. What |
| How can I add value to my organization today? | | | | is missing? What can you learn to fill the |
| | | | gap? |
| The value you create is what you are paid | | | | |
| for. The more value you create that is | | | | If everybody is studying French and German, |
| recognized by the company, the more you can | | | | you can study Chinese or Japanese. When I |
| earn in salary and position. | | | | left college and joined a major electronics |
| | | | manufacturer, I was paid twice as much as |
| The key thing to remember is your | | | | other college graduates because I could speak |
| compensation is a portion of the value that | | | | Japanese and English and understood the |
| you create. You should aim to add ten times | | | | basics of computers. |
| as much value as the compensation that you | | | | |
| desire to be paid. | | | | If you are a welder, you might notice that |
| | | | very few welders are qualified to work with |
| Do something that other people don't know how | | | | copper or to weld exceptionally thick pipes. |
| to do. | | | | I once new a welder who owned two Rolls |
| | | | Royce's because he had learned to weld |
| Value is created out of scarcity. Gold is | | | | materials that very few welders could handle. |
| precious because it is relatively scarce. | | | | He could name his price, and he did. |
| Iron costs less because it is more plentiful. | | | | |
| Value derives from scarcity! | | | | By the way, don't expect this to be easy. If |
| | | | it were easy, probably someone else would |
| This principle of scarcity applies in the | | | | already be doing it! |