Two Fundamental Principles For Generating Revenue

Two Fundamental Principles For Generating Revenue

In today’s economy, we could all benefit from earning more money. It seems today that almost everyone is seeking an additional income, often in the form of an extra job or in the form of an increase in their salary.

generating revenue

This article looks at a number of simple principles that can help you shift your mindset to ensure you earn more money by creating more value. This is something we were likely to be taught as a child but with a slightly different context. Gone are the days where your child will go to school, get a job in a big company, and then stay in that job for the rest of their lives until they retire. Today, we are living in a world of portfolio careers, side hustles, and an aspiration to derive passive income from online activities.

The book, Rich Dad Poor Dad, presents a number of interesting concepts about how different people go about making their money, yet this article focuses on two universal principles around money and education that are relevant to anybody.

Create More Value

People are compensated based on the value they create for a third party. Whether that party is a person or organization in the form of a client or customer, or an employer, the universal fact remains, that people get paid according to the value they provide.

The value of an activity such as defending someone’s innocence as a solicitor is a higher value activity than an activity such as cleaning.  That isn’t to infer less value on the person behind the job; it’s simple to say that a solicitor charging $350 per hour to defend against a serious allegation is creating more value to the person receiving the service than a cleaner being paid $10 per hour, as the end result they are creating is of less tangible value.

Put simply, if you want to earn more, you need to create more value in terms of the end result you are providing; as the more value you provide the more you will earn.

Learn More

There are two ways to learn. First is through experience, and the second is through education. Today, formal education is much easier to access with many courses (both vocational and academic) available online. Indeed, a simple search in Google for “Online RN to BSN Program” demonstrates that even technical qualifications such as nursing can be completed online, remotely, within the comfort of your own home, or on the road if you fancy some long term travel.

It should however be noted that learning is not limited to academic education. Indeed, if you were to learn how to invest in property, or how to master the art of influence, these skills are likely to get you much further in life, in financial terms, than having a generic degree.

There are plenty of well educated people working in minimum wage jobs, and oftentimes, you can find highly educated white collar workers attending weekend seminars on topics such as property investing, amazon trading, and digital marketing, in order to escape the rat race they subscribed to by going down a traditional academic route.

If you want to earn more, you need to create more value in terms of the end result you are providing and one of the best ways to provide more value is to get more education, but education that is focused on a particular outcome. You want to have a laser focus, as education is ultimately an investment, both in time and money. Indeed, one of the best investments you can make in your online business is to learn from world leading experts such as Frank Kern or Ryan Deiss on the most effective real world strategies to convert browsers into buyers. There are so many courses available on platforms such as Udemy, that you can practically learn anything from people who are out there doing it and getting results.

Education seems to have shifted in a very positive direction, in the sense that it is becoming much more applied and outcome focused. This is what you want to consider when considering education. Focus on the increased value you will be able to provide others as a result of taking the course and then see if it provides a good return on investment.