By thought, the thing you want is brought to you. By action, you receive it. — Wallace D Wattles
Making six figure income remains a major milestone for most of us, especially in this tough economy.
While six figure income may have lost its once elite status, there is no dearth of people who consider it as tough as climbing Mount Everest.
It never cease to amaze me that there are those who blame America for lack of jobs while there are plenty of high paying jobs around.
I don’t blame you if you are skeptical about my opinion, but I have seen a friend who went from living in a hotel room to a six figure income in less than a year.
Since I was involved in his pursuit to find a job from the beginning, I have some lessons to share with you. It dawned on me that if my friend — after not having a job for more than 12 years — can make six-figure income, anyone with desire to work hard and stay the course can make it to the elite club.
Lesson 1: Find your niche
Concentrate your energies, your thoughts and your capital. The wise man puts all his eggs in one basket and watches the basket. — Andrew Carnegie
In the new global economy, knowledge is far more important than having a diploma from a University. I am not downplaying importance of a college degree, but you can’t ignore the power of specific skill that demands big salary. Most high earners make big money by specializing in a niche skill. Think about it. It’s tough to become average at many things to demand high salary. On the other hand, if you possess skill for a product or a service that’s in demand, you can’t entertain enough recruiters.
You have to do what you love, but I am a big proponent of learning job specific skill and then going extra mile to become as best you can. Information Technology has transformed our world for the past 20 years. Anyone can learn one of many high demand IT skills and make six-figure income either as a freelancer or an employee.
My friend learned SQL(Structured Query Language) and then took online training to become a Quality Assurance Analyst. There are specific automation tools that you can learn to become proficient. He initially accepted small jobs on one of many freelance sites for a modest amount to gain experience. Within the first six months, a fortune company offered him contract job making $45 per hour. He called me last week and informed me that the same company hired him as a systems analyst for six-figure income.
There is no secret to his success. He first found skill that’s in demand and learned about it like a mad man. Next, he put twice as much effort than average Joe to become good at his profession.
The good news — for those who work hard — is that our world is full of mediocre people. It’s not that they are not smart; they are simply not motivated to become best at their skill level.
Lesson 2: Be the best
Give every man more in use value than you take from him in cash value; then you are adding to the life of the world by every business transaction. — Wallace D Wattles, The Science of Getting Rich
Those who create value for their employers have no dearth of high paying jobs. In my professional life, I have seen countless examples of finest individuals who not only mastered their niche skill, but also created value for their employers.
If you invest in the success of your boss, you are ensuring rich reward for yourself. Try to create two dollars worth of value for your employers for every dollar you earn. I’ve personally increased my salary by more than 40% in the last three years by applying wisdom of Wallace D Wattles.
The road to six-figure income is simple. Isn’t it? First, find your niche skill that is in high demand. Learn it. Second, go above and beyond to create value for your employer. That’s it.
“How do I find skill that can make me six-figure income in short order?,” You might wonder. I am in IT field. You can learn to become a certified database administrator. Or, with the advent of cheaper hardware and growth of data, most businesses are focusing on how to use Business intelligence to make sound decisions. You can learn to become good at Data Warehousing and Business Intelligence development to make six-figure income.
There will be a shortage of talent necessary for organizations to take advantage of big data. By 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions. - McKinsey Global Institute
Many universities are offering majors in Health care Informatics as — with the recent health care mandates — hospitals are investing heavily in IT going forward.
The idea is to focus on a niche skill — by knowing macro economic changes — that can not only bring lots of job opportunities, but also handsome salary.
Even with the unemployment close to 9%, if you decide to make six-figure income — no matter how much you make today — you can.
Readers: Are you making six-figure income? What do you think it takes to join the club?
If you think you can do a thing or think you can’t do a thing, you’re right. – Henry Ford
(Photo courtesy: Robert Lz)