For most people, their job is the primary source of income. The basic cycle is; earn, spend, and save. There is nothing wrong with getting a job. You will learn a lot from it, and you might also make good money.
But I have always been against the job mentality for several reasons. Firstly, you do not have flexible timing. You cannot choose when to work and when not to. So, you have to stick to the work schedule—9 am to 5 pm, for most.
Secondly, you are told what you can and cannot do. Your boss assigns you some work, you do it, and then both of you are happy (if you do it well). It might not be something you want to do. Yet you have to do it. Otherwise, you might lose your job, which means no money, no security, no nothing.
Lastly, and most importantly, you are not paid for value. Instead, you are paid for your time. That is what I will be discussing in this article.
Getting Paid For Time
In most jobs, you are paid for your time. What does that mean? It means that you are paid a fixed salary on a monthly, weekly, or hourly basis. No matter what you do at work, your pay is already set. You will have a steady income. Most people are okay with it. They feel that they have “security” by having a fixed income every month.
Let’s say that your monthly salary is Rs. 30,000. Further, suppose that you are a hard worker. You grind and sweat every day at work. You work to provide the best result, stay focused, and do whatever your boss tells you to do. So, you are a perfect employee. At the end of the month, you receive your fixed salary, which is Rs. 30,000.
Now, let’s suppose that you are not a hard worker. You are lazy, and you are in it just for the money. Let’s say that you cheat at work too. You only show that you are working hard in front of your boss. Other times, you gossip, chat, and surf the internet. You find easy ways to show that you have completed the task assigned to you. Yet you are still getting paid the same fixed salary of Rs. 30,000.
Getting Paid for Results
As I said, most people are okay with getting paid for time because of the sense of security. However, by doing that, they are missing out on the potential to earn more. They are not being paid for the results or for what they are worth.
“There is nothing wrong with getting a steady paycheck, unless it interferes with your ability to earn what you’re worth.” —T. Harv Eker, Secrets of the Millionaire Mind.
Do you know a rich person who works for time? I don’t think so. Yes, some people do get paid a lot of money in their jobs. But again, they are missing out on the opportunities of earning more. They are valued at a fixed amount of money.
Getting paid for results and outcomes will provide you a chance to earn more. Work more, earn more; work less, earn less. It is that simple. The person who works hard and also provides the best results deserves to be paid more. In entrepreneurship, for instance, the more you work towards creating the best business, the more you can earn. Your income is never fixed. It increases with the amount of work you put in. And, it decreases if you don’t work harder.
Similarly, if you work in sales, you get commissions based on each sale. Your income is not fixed. For example, if you made fifty sales this month and only thirty sales the last month, you will be earning more now than before.
The Rich Mentality
Wealthy people prefer to be paid for value, not time. That is why they start businesses or make investments. They make their income from profits. Most rich people make money by working for commissions or a percentage of profits. They prefer stock options and profit-sharing instead of a fixed salary (even if it is high).
Why do the rich do so? It is because they understand that a steady income will never make them rich. They believe in themselves, and they know their true potential—the value they can provide. When you know that you can offer more value, you should never agree to be paid for your time. Instead, you should always seek to be paid for your ability to deliver.
Poor people seek security and guarantees. They are not risk-takers. So, they remain poor. Furthermore, they trade their time for money. The problem is that time is limited. With limited time, you can only earn a limited income. You are killing your chance to create more wealth. Always remember this: Never have a ceiling on your income.
Being rich and being poor is about your mentality. If you have a mentality that you need a steady income for security, you will miss many opportunities to become rich and have more wealth. Most of us have been programmed to think that getting a job and working hard is standard practice. Go to school, get good grades, get a job, work-work-work, retire, and die.
But, if your mentality is that you should be paid for your value, you will never agree with being paid a steady income. You don’t have to start a business and become an entrepreneur for that. You can get a job. But, make sure you get paid on percentage.
How valuable are you? What is your true potential? Are you being paid for what you are worth? If not, it is time to shift your mentality. It is time to re-program your beliefs. A steady paycheck is not the normal way to get paid for your work. The only way to earn what you are truly worth is to get paid for your value—your results and outcome.
So, choose to get paid based on your results, not your time.