Do you ever catch yourself saying things like:
“My boss / client doesn’t pay me enough to do this work.”
“Those cheap bastards didn’t want to give me a raise!”
“No one will pay me what I’m worth.”
“I can’t find enough customers!”
If so, poopie pants on you. I do feel your pain, but crying about it won’t help. Honestly, nobody cares. You can complain. Or you can do something about it.
Here’s the truth…
Your compensation is now, and will always be, based on these four factors:
- Your ability to solve problems
- Your ability to solve the right problems
- Your ability to create value for your customers or employer
- How easily you can be replaced
Do you think it’s fair that some professional atheletes make more money in one day than teachers, police officers and fire fighters make in an entire year? (Hey, when’s the last time A-Rod saved a child from a burning building?)
If so, here’s your problem:
Fairness is an illusion that exists only in your mind.
It doesn’t matter if we think it’s fair or not. The simple fact is that multi-zillionaires like A-Rod and LeBron are able to solve a problem that few other people in the world can solve: They help their boss make more money.
A-Rod’s boss has a problem. He needs someone who can field, run, score and hit a 100mph fastball over a wall 420 feet away on a regular basis. Since the boss has money to burn, the laws of supply and demand dictate that the person who can solve these problems for the boss will write his own ticket.
Given his strengths, abilities and training, it is the right problem for him to solve. He is not easily replaced. He creates value for the boss (at least this year). The products the boss sells (tickets, merchandise, licensing and endorsement deals, TV rights, etc.) become more profitable, and he gets rich while the boss grows wealthy.
So you think you’re a problem-solver? Good for you! But are you solving the right ones? Are you training for a future where you’ll be a useful, valuable presence? Or are you a full-time slacker, biding your time thinking you can coast through until retirement?
If you’re not making yourself a more efficient and effective problem-solver, you’re in for a rude awakening.
Here’s what I have my kids practice whenever they start acting lazy, or complaining about something being too hard. It’s very inspiring, and gives them a good idea of what their future might be like if they don’t snap out of it.
Try it for yourself:
- Make a loose fist, and place your hand about 6-8 inches in front of you at belly button height, palm-side up, sort of like you’re holding a knife in the direction of an approaching bear.
- Slide your hand and arm forward and away from you, at a slight downward angle – sort of like you’re trying to stab the approaching bear.
- As you do this, lift your arm a bit and rotate your wrist so your fist is now palm-side down. You stabbed the bear, and now you’re lifting it off the ground and flipping it over.
You want fries with that?
Got it? Good.
But I have a confession. I’m not really forcing my kids to practice killing bears with their, uh, bare hands. There really isn’t much demand for that kind of expertise. So instead of a knife, now imagine you’re holding a spatula. Like the ones they use to flip burgers at your favorite fast food restaurant.
While pretending to improve their mad burger-flipping skillz, I also have my children repeat the all important accompanying catch phrase: “You want fries wit dat?”
Let’s take a look at the long-term potential for those considering a career in burger-flipping…
Fast food restaurant growth is soaring. Americans love cheap food that causes a variety of disease. This means more jobs available in most communities. [GOOD]
But at the same time…
As the economy continues to go down the toilet, the glut of unemployed people in search of easy paychecks will soar due to their inability to solve more important problems. Competition for these gigs means lower pay, infrequent raises and living in constant fear of being replaced by a younger/better-looking burger-flipper. [BAD]
So, it’s a toss-up.
The other option for dealing with the economic downturn (that isn’t going to improve much any time soon) is to focus on developing problem-solving skills that will be useful in any economy. The two biggest problems we have right now are:
- “How can I sell more _________ ?”
- “How can I save more money?”
If you can show a proficiency in either, you will always have a job, and you will be first in line for a promotion or raise when things do finally turn around.
If you can help your customers sell more stuff, make more money, or save more money, you will always have customers. They will beat a path to your door.
If you’re not making enough money in your current job or business, figure out a way to make yourself indespensible. Everyone has problems that need to be solved.
Just make sure you’re solving the right ones…
