What Actually Determines Your Salary?

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The question I get all the time is “Keith, how do I increase my salary?”

It sounds so simple, and here’s the thing – it is so simple. But it’s not what you think. Most people expect a magic answer. They tell me their story and expect me to tell them to do one thing, relevant to their situation.

But I’ve got news for you, you’ve actually got three things you need to do. Forget what everyone tells you about salary and how to earn, there are actually only three things that you need to be concerned about and focus on.

Every time you think about salary, in fact every time you get up out of bed in the morning, you should be thinking about “What am I going to do in each one of these three jobs today?” because if you can do that, I absolutely guarantee it, you will blow your salary expectations out of the water. You will absolutely definitely get what it is that you should be earning.

When you learn this, you’ll see what I mean. Most people don’t get it, most people nod up and down and say “oh yeah, yeah, I understand it” and they don’t. They don’t, they just gloss over it, so just pay attention please. If you get this, and if you get the implications of what I’m going to be explain to you, seriously this is worth a lot of money to you.

Positioning

Your first job is positioning. Okay Keith, what do you mean by positioning? You need to be really really clear about what problem it is that you solve, who do you solve that problem for, and when you solve that problem, how is it that your boss or your customer benefits?

So the next time someone asks you the question, “What do you do?”, you need to be able to explain:

1. What problem do you solve?

If you’re not solving a problem, no one’s going to pay you.

2. Who is it that you solve it for?

You need to be quite clear on this. Different types of people have different problems that need to be solved in different ways, so which type of person are you going to solve a problem for?

3. What’s the benefit that you’re going to deliver?

Think about your local cafes and restaurants. Each one of them is slightly different, or the very good ones are different. Which the restaurant do you like going to most? I almost guarantee it’s a restaurant that is solving a problem for you.

Maybe your problem is you want really good tasting food with an excellent wine selection, and that’s what they provide. Or maybe you just want a place where your whole family can go, sit around and have a good value meal with but good food. Or maybe you just want some place where you can meet up for a cup of coffee and a pastry.

You’ve probably just imagined those three different restaurants. Can you see that they’re solving a problem for you? The benefit that you get from going to a really nice restaurant with a great wine list is that it’s a place you’ll go to with your partner or if you’re trying to impress someone, maybe your really good friends. Whereas the benefit’s different when you go to a restaurant with your family, it’s a family occasion and you don’t want to spend loads of money but you want to have an event.

Think about the problem, who you’re solving it for, and what’s the benefit. Get that really clear.

Producing

The second thing is the one that most people focus on. But not quite enough. It’s producing. That’s your other job that you’ve got to do. You’ve got to produce, you’ve got to do stuff. But, you can’t just do any old stuff, the key to producing is that you’ve got to produce work that is:

1. Relevant 

Lots of people spend their lives being very busy doing lots of stuff, but actually it’s not relevant to what it is they want out of life, it’s not relevant to the positioning. If that cafe, the nice cafe that produces those nice pastries, if they were also selling pizzas at the same time, that’s not relevant to me with my cup of coffee. So they might be really busy in the kitchen making these pizzas, and delaying my pastries coming out but it’s not relevant to their customer, so they shouldn’t be doing it. You should only be producing work that’s relevant.

2. Good Quality

When you’re producing work that’s relevant, make sure it’s great quality. Goes without saying. If you’re producing a pastry, make sure it’s an amazing pastry. Don’t produce something that I wouldn’t like to eat. Make sure it’s good quality, sufficient.

3. Gets Results

When you’re doing something, think about the results at the end of it. You could spend two hours doing a job and you could get a great result, or you can spend two days or two months or two years and not have a result at the end of it. When you’re producing, results count. You want to be able to go back and say when I did this, that was relevant, I got this result. When I went out for my lovely meal at my restaurant, they gave me an amazing bottle of wine, the waiter corked it there for me. Wow, we loved it. The smiles on my friends’ faces, we talked about it for weeks and weeks afterwards. You get it?

Get busy on the right stuff, do a great job and get great results.

Promoting

The third thing is promoting This is YOUR job. You might not want to hear it, but you have GOT to do this.

You might be producing relevant work, you might be perfectly positioned, but if no one knows about you, all of this is just a waste of time. Imagine that great restaurant – if I didn’t know it was there and its opening times and what it offered, I wouldn’t be attending it.

And guess what?

That restaurant, because they’re not promoting it and letting me know that they’re there, they’re not only doing themselves a disfavour because I’m not spending money with them, but they’re doing their customers a disfavour too because their customers don’t know that they want to go to that restaurant and that it’s there.

It’s really important to realise that one of your jobs is to promote yourself, and that doesn’t mean you have to be one of those guys going on and on and on about themselves. This just means that you need to make sure that the people who you can help, with your relevant work, know that you can help them. Is that hard? So go and tell people you can actually help them do X, Y and Z.

You don’t have to be horrible about it. You don’t have to brag, “I’m brilliant, I’m wonderful” No. You just have to know that you can help and just say, “Hey, I can help you.” Promote yourself, others need to know how you can help them.

 

So here are my two takeaways for you from this:

1. The first is you have three jobs, but you need to make sure that they’re balanced. It’s no good just producing or just positioning or just promoting. If you just focus on one or even just two of them, it’s no good. You must focus on all three. So balance on all three.

2. And the second thing, the really obvious one is, once you’ve got your balance, is to start getting excellent at all three. Because when you get excellent at all three, that’s when the magic happens.

Talk to you next week.

 

If you haven’t already done so, be sure and sign up for my FREE insights and training on how to Master Your Income.  And if you’re a podcast person you can subscribe to the Income Mastery iTunes podcast here.

 

Increase Your Salary

Getting Excellent at Positioning, Producing, Promoting

Positioning

What Are You Producing?

Promote Yourself

Transcription

In case you can’t understand my Irish accent….

Hi, I’m Keith McEvoy, CEO of Success that Works and Founder of Supercharge Academy. The question I get all the time is “Keith, how do I increase my salary?”

And it sounds so simple, and here’s the thing – it is so simple. But it’s not what you think. Because most people expect a magic answer, they tell me their story and then I go “oh yeah, what you need to do is this” or “actually, no in your situation, you need to do that”.

But actually, I’ve got news for you. It’s actually three times worse than that, because you’ve actually got three things you need to do. There are, underneath all of the stuff that’s thrown on top of you and what everyone tells you about salary and how to earn, there’s actually only three things that you need to be concerned about and focus on.

They are the three jobs that every time you think about salary, in fact every time you get up out of bed in the morning, you should be thinking about “what am I going to do in each one of these three jobs today” because if you can do that, I absolutely guarantee it, you will blow your salary expectations out of the water.

You will absolutely definitely get what it is that you should be earning. But, let’s go through it, and at the end of this, you’ll see what I mean and if you get this, because most people don’t get it, most people nod up and down and say “oh yeah, yeah I understand it” and they don’t.

They don’t, they just gloss over it, so just pay attention please, it’s just going to take me about four minutes to show this to you because if you get this, and if you get the implications of what it is I’m going to be explaining to you, seriously this is worth a lot of money to you.

So, the first thing, and again, you’ve got three jobs.

Your first job is positioning.

Okay Keith what do you mean by positioning?

Right, this is you need to be really really clear about what problem it is that you solve, you solve, who do you solve that problem for and when you solve that problem, how is it that your boss or your customer benefits?

And when someone asks you that question, you need to be able to go bam bam bam bam, okay? Again, what problem do you solve? Alright, if you’re not solving a problem, no one’s going to pay you. Who is it that you solve it for?

Okay, need to be quite clear. Different types of people have different problems that need to be solved in different ways, so which type of person are you going to solve a problem for? And what’s the benefit that you’re going to deliver?

If you think about it around here, I’ve got quite a lot of cafes and restaurants, right? Each one of them is slightly different, or the very good ones are different. And you probably have around where you live lots of cafes and restaurants so think about them, right? Which is the restaurant that you like going to most?

I almost guarantee it’s a restaurant that is solving a problem for you, maybe your problem is you want really good tasting food with an excellent wine selection, and that’s what they provide.

Or maybe you just want a place where your whole family can go, sit around and have a good value but pretty okay food, yeah?

Or maybe you just want some place where you can meet up for a cup of coffee and a pastry. Right?

In your head, you’re probably imagining that’s that place, that’s that place and that’s that place. You see they’re solving a problem for you, and the benefit that you get from say going to a really nice restaurant with that wine list is probably when you’re there with your wife or you’re out trying to impress someone, maybe it’s your really good friends, you’ll go out to that restaurant, whereas the benefit’s different when you go to the one where your family is there because that’s a family occasion and you don’t want to be spending loads of money but you want to have an event, so you see what I mean. Problem, who you’re solving it for, and what’s the benefit. Get that really clear.

The second thing and this is the one that most people focus on. But not quite enough. And it’s producing.

That’s your other job that you’ve got to do. You’ve got to produce, you’ve got to do stuff.

So basically, you can’t just do any stuff, what you’ve got to – the key to producing is you’ve got to be relevant, right? Lots of people spend their lives being very busy doing lots of stuff, but actually it’s not relevant to what it is they want out of life, it’s not relevant to the positioning.

If that cafe, the nice cafe that produces those nice danishes, if they were also selling pizzas at the same time, that’s not relevant to me with my cup of coffee.

So they might be really busy in the kitchen making these pizzas, and delaying my pastries coming out but it’s not relevant, so you shouldn’t be doing it. You should only be doing stuff and producing stuff that’s relevant.

And when you’re producing stuff that’s relevant, make sure it’s great quality. Goes without saying. If you’re producing a danish, make sure it’s a nice danish.

Don’t produce something really not very nice, I was about to say a word I shouldn’t have said, hence the little delay, but don’t produce something that I wouldn’t like to eat, okay?

Make sure it’s good quality, sufficient. And also, when you’re doing something, think about the results at the end of it because you know how it is, you could spend two hours doing a job and you could get a great result, or you can spend two days or two months or two years and not have a result at the end of it. When you’re producing, results count.

You want to be able to go back and say when I did this that was relevant, I got this result.  When I went out for my lovely meal at my restaurant, they gave me an amazing bottle of wine, the waiter corked it there for me. Wow, we loved it. The smiles on my friends’ faces, we talked about it for weeks and weeks afterwards. You get it?

And the third thing is promotion, or promoting, should I say.

This is your job. Right? You might not want to hear it, but you might be producing relevant stuff, you might be perfectly positioned, but if no one knows about you, all of this is just a waste of time.

Imagine that great restaurant, if I didn’t know it was there and its opening times and that it was there for me, right? I wouldn’t be attending it. And guess what?

That restaurant, because they’re not promoting it and letting me know that they’re there, they’re doing not only themselves a disfavour, because I’m not spending money with them, but they’re doing me a disfavour too because I don’t know that I want to go to that restaurant and it’s there.

So it’s really important to realise one of your jobs is to promote yourself, and that doesn’t mean you have to be one of those guys going on and on and on about themselves.

This just means that you need to make sure that the people who you can help, with your relevant things that you do, that they know you can help them. Yeah? Is that hard?

Hey Bill, who is nodding there behind the camera, I can actually help you do X, Y and Z. Have I been horrible about it? No, have I gone “oh yeah I’m brilliant, I’m wonderful?” No. I just know that I can help him and I’m just saying “Hey, I can help you.” Okay?

So two takeaways for you from this. The first is you have three jobs, but you need to make sure that they’re balanced, okay? It’s no good just producing or just positioning or just promoting.

If you just focus on one or even just two of them, no good. You must focus on all three. So balance on all three. And the second thing, the really obvious one is, once you’ve got your balance, start getting excellent at all three.

Because when you get excellent at all three, that’s when the magic happens. Talk to you next week.

So if you enjoyed this video and found it useful, I’ve got two things that you can actually do right this second.

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And the second thing you can do is if you click the button just here, you can sign up for my weekly newsletters which have loads of free tools and insights and lots of really cool stuff that basically will help you go earn your worth in a job you love, with a great work life balance, because you so deserve it.

 

If you haven’t already done so, be sure and sign up for my FREE insights and training on how to Master Your Income.  And if you’re a podcast person you can subscribe to the Income Mastery iTunes podcast here.

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