What’s Your Value to the Market?

Whether we recognize it or not, we are all entrepreneurs marketing ourselves to the market place. One of the most basic fundamentals of our economic system indicates that the amount we earn is based on the value we offer. Therefore, the more value we bring to the market, the more we can charge for our services.

What is the difference between those at the top of the pay scale in a given profession and those at the bottom? In most cases, the people at the top of the pay scale receive a higher salary not only because of their skill or ability, but also because of all the little things they do to bring value to the organization.

Increasing Your Value

If you want to earn more money, FIRST you must increase your value. Only after increasing your value can you expect to charge more for your services. It doesn’t work like many people think: “Pay me more and I will do more.” That is the mindset of a low wage employee who will never get ahead. The mindset of entrepreneurial minded employee would sound something like this: “Let me do all I can to increase my value and if I can’t earn what I am worth with my current employer, then I will market my services to another employer.”

I would like to relate a story about my son Gerrid and his first job as a bagger at a local grocery store. This is the same store where my son Jake now works. His employer’s instructions were simple enough. Ask the customer if they want paper or plastic. As you pack, put like items together and don’t make the bags too heavy. One day Gerrid came home discouraged. He said, “Dad, this job is not at all challenging. It’s actually a rather meaningless job.”

I shared with him my philosophy about the little things that matter and how he could improve his value and his image. I reminded him that he wouldn’t earn any additional money as the salary of a bagger was limited but that it was important for him to perform the role of a bagger in the best possible way—with excellence. I encouraged him to look at this job as an opportunity to grow, to become a better person and prepare him for the future.

I challenged him to think of ways to go beyond his employer’s normal expectations. I suggested little things like keeping his shoes shined, pressing his clothes, smiling at the customers, offering them a friendly greeting, making eye contact, thanking them for their business and volunteering to do the things the other employees did not want to do.

My goal was to teach Gerrid a new way of thinking—to focus on the little things he could do to increase his value to the market place. It wasn’t long before he began to enjoy his work, winning the appreciation and admiration of his employer and co-workers. Today he owns his own very successful search engine optimization firm (SmithSEO), and is one of the most significant contributors to my Little Things Matter mastermind team.

The Compounding Effect

Just as my son Gerrid experienced in his life, focusing on the little things to enhance your value will add up. Going the extra mile brings great rewards because so few people make this kind of effort. As you make small changes, you will see some increase in your value. At first it may not be measurable. But your ultimate success will come as a result of a compounding effect of doing the little things over a long period of time. It comes from making small improvements day after day, week after week, month after month, and year after year. Compare your success to investing your money. Just as interest compounds over time, so will your value if you will stretch yourself to build your value each day.

Being Intentional

As you look to increase your value you will want to focus on two things. First, be intentional about performing your core job description at the highest level of excellence you are capable of achieving. Learn by identifying the little things the successful people do in your field of expertise that makes them stand out. Second, be conscious about doing the little things that will brand you as the kind of person others look up to with admiration and respect.

The most significant increase in your value will be achieved if you know the little things that matter and do them consistently at the highest level of excellence you are capable of achieving.

About the Author: Todd Smith is a successful entrepreneur of 30 years and founder of Little Things Matter. To receive Todd’s daily lessons, subscribe here. All Todd’s lessons are also available on iTunes as downloadable podcasts. (Todd’s podcasts are ranked #27 in America’s top 100 podcasts and #1 in the personal and development field.)

Visit JimRohn.com Today!
  • EmailEmail
  • FacebookFacebook
  • TwitterTwitter
  • StumbleUponStumbleUpon
  • DiggDigg
  • Del.icio.usDelicious
  • RedditReddit
  • GoogleBuzz
  • ShareThis

  • Todd.....this is well written and well understood...I'm trying to determine what my value is to the market after putting $5.5 million in volume on my company's books this year since I began on 9/09/09.......after I told them I was going to do do just one million.......What is your professional opinion on this and do I have the right to ask for lots more money since the company grew over 100% in that time? Please feel free to share on my FB profile.......I want people to hear and know your answer......I only got paid about $42k for this work and I think I'm grossly underpaid for what I have achieved! How to handle nicely and professionally?
    Tony Beach
  • Hi Tony,

    If you are truly responsible for generating $5.5 million in revenue for your company in 2010 and earned 42K for your efforts, I would say you are underpaid. Since I don't know more than you have just shared, it's hard for me to comment further. If that wasn't a fluke and you really are that good, then I would shop your services in the market and see what they're worth.

    Congratulations!

    Todd
  • Myrelle
    Wow, Todd. Every single time I go to your blog, I can't seem to get away because one blog leads to another and another and another. I can't help to listen to all of them because it shows me what I can improve in me and increase my market value. Every time I read/listen something from your blog I post it on my blog, I'm thinking, I might as well put your whole blog in my blog! (haha!) I can not thank you enough for having your blog available to everyone. God bless!
  • Hi Myrelle,

    Thanks for all your kind words. It makes me feel good to know that people value my content.

    I want to congratulate you for reading/listening to multiple posts. I admire your desire to learn and grow. There aren't very many people who are hungry to get better and those who are stand out.

    Take care,

    Todd
  • Denise Moreaux
    It is wonderful to be reminded that the little things matter. People often say "focus" with little or no direction on how to do so. Now I know that I must focus on my unique strengths to put me ahead of the pack.
  • Hi Denise- Thanks for your comment. You are absolutely right. Focus on improving your strengths and you will stand out from the pack.
  • Todd you are a great father, a great leader, and a great person! Thank you!
  • Morning Sonya,

    I don't know what happened, but I missed your thoughtful comment from three months ago. :-)

    I appreciate your kind words.

    Todd
  • Brilliant! thank you.
    I am Glad for Gerrid for having such a great dad who provided him with such sensible guidance.
    After grinding each day for so many years I finally find people who can show me an alternate
    direction towards a brighter future.
    Regards
blog comments powered by Disqus