Why You Aren’t Earning Enough Income
Wealth requires income. That’s the top line, but it’s also the bottom line. Without income there is no saving money. Without saving money, there is no investing. Which means without earning more income, you won’t invest and you won’t gain financial freedom. Income is an right of passage to wealth. You must do it and there’s not a way out of this rule. Many times when I share this with people, they attempt to find a way around it or why it doesn’t apply to them. Instead of defending why you don’t need more income, which is really just a justification of why you don’t know how to produce it, realize how good of an idea it would be. For a second, rid yourself of the ideas of boundaries and hard work and think in terms of opportunity and possibility. If you had more income, what could you do?
You see, the first reason you aren’t earning more income is because you haven’t decided you need to. 76% of Americans are paycheck to paycheck. That means 8 out of every 10 people you know, can barely pay their bills every other week. You need to realize that you do need more income. All of your goals, even charitable, will require money. Most of your problems will require money in order to be solved. Any opportunity you are attracted to will require money. Without more income you will achieve less goals, solve less problems, and take advantage of less opportunities.
Now here is the hard part of this message that you probably won’t be interested in. In order to make more money, you need to get good at sales. Cat’s out of the bag! The only way to get more income is to sell in some capacity.
This is usually where people complain “I don’t like sales”, “I don’t like to persuade people”, “I’m not a sales person”, or other things of the like. This is the next reason you aren’t earning enough income. It’s like saying “I weigh too much, but I hate the gym”. If you avoid the thing that’s going to solve the problem, you won’t solve the problem because you don’t do what it takes to solve it.
There are 3 major reasons you don’t like sales, stemming from the fact that you aren’t good at it because you don’t know how yet.
- People don’t trust you and you don’t realize it. Trust is vital to sales. Most people don’t like sales because they don’t like having to pressure people, they don’t like rejection, and they don’t like how awkward it feels. The fact is, these circumstances represent the fact that the element of trust has been missing in the instances you’ve attempted to sell. If someone is reserved from buying from you, then somewhere there isn’t trust. If you’ve had to pressure someone in sales, it is because ultimately that person lacked trust with you because if they trusted you, they’d make the decision themselves. Now, there are some instances where people don’t trust you, you know it, and you know why. Maybe you owe them money, or you weren’t ethical with them in the past, or something of that nature. But realize that anytime income is missing, so is trust. After all, money is simply an idea backed by confidence, used for exchange. In essence, money represents trust.
- You aren’t taking responsibility for earning more income. Now, there are two sides to this as well. There is the instance where someone doesn’t take responsibility for themselves, and it results in not earning income. This would look like being lazy, being introverted, not promoting, not working, etc. If a person doesn’t take responsibility for these things, they obviously won’t earn more income. There is also the instance where someone isn’t taking reasonability for the other person they are trying to get the income from. Have you ever heard someone say “that customer was cheap”? What about “my boss is a penny pincher”? The person saying this hasn’t taken responsibility for their customer or their boss paying them more money. To truly earn more income, you need to take responsibility for not just yourself, but the other person. If they say no, that’s your fault. If they don’t buy, that’s your fault. If they need to think about it, that’s your fault. Take responsibility for all aspects of the transaction, and on both sides, and you will earn more income.
- You lack credibility with those you’d get the income from. Credibility is not the same as trust. Credibility is the condition of being worthy to be trusted. Trust is when someone is willing to rely on you. If you lack credibility with someone, it means you are doing that’s that lower your ability to be trusted. Someone either trusts you or they don’t. If they do, you have credibility with them. If they don’t, you lack credibility with them. You control your credibility too. Credibility is built through who you are, what you do, and what you possess or on the opposite scale, the lacking of those 3 areas. Credibility can be lowered by showing up late, not being a professional, not producing results, saying too much, saying too late, and many other factors. For example, if you had an employer that you wanted a raise from, and you were going to ask them for a 50% raise, you’d either do it because you know you have the credibility or you wouldn’t do it because you knew you were not that great a worker and you lacked credibility.
These are the 3 main reasons you lack income, aside from you not wanting it and not knowing how to get it. If you begin to focus on building trust, take full responsibility for yourself and others, and look for areas to gain credibility then you will earn more income. You don’t need to quit your job and go into sales and you don’t need to make any drastic changes yet. Start with simply focusing on these 3 areas. Focus on them intently and be consistent.
If you’d like help learning how to create more income, and you’d like a 3 day free trial to Wealth DynamX University click here.
Own Your Potential,
Jerry Fetta
Grant Cardone Certified Coach
Jerry Fetta helps his clients gain more financial knowledge, make more money, keep more of it, and multiply what they keep.
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