Monday, 29 October 2012

Wana be Rich ?: Chase After Value and Not Money


Wow…!!! See how time flies, it’s almost the end of 2012 and I just realized I haven’t added anything to my blog this year. Just this weekend my younger brother came home from school on mid-term break we were talking and I was saying to him how I wished I knew the things I know now when I was his age. If only I knew I would have added more value to myself during my childhood days.

He didn't quite understand what I was talking about so I told him about an encounter I recently faced when applying for a job in a very good consulting firm. On the application form there were questions like “Awards and achievements in university?, Awards and achievements in high school, unique skills  (E.g. playing a musical instrument), Leadership positions held etc.

The company saw these skills/achievements as yardstick to evaluate how valuable an individual was and in return will decide whether or not to employ the individual and pay a salary equivalent to the perceived value of the person.
I completed that form knowing my chances were slim as I have always been a regular guy, mostly above average but rarely the best in anything. I didn't have a unique skill unlike my younger brother who plays the guitar really well.
The most successful businessmen and leaders of today didn't become successful by being average, they all had something of value to offer the world. Look at Sergey Brin and Larry Page of Google, Bill Gates of Microsoft, Mark Zuckerberg of Facebook, all these people had something of value to offer the world which in turn made them billionaires.



So basically, the amount of money you have or are being offered is directly proportional to the value you have to offer.

The good news is this, a few people are born leaders, while some acquire the skill of leadership, some people are gifted in playing musical instruments while some learn the skill, even if you don’t have a natural God given flair for numbers or leadership skill or whatever skill you need to achieve that goal you can always acquire the skills through determination hard work and commitment.

Some people wonder why I plan to do an MBA since I already have master’s degree, the answer is very simple. I want to acquire valuable business skills and develop myself so much that when I see a business going into bankruptcy I can prescribe a couple of actions the company could take that will completely turn the business around. This sort of skill is value that companies would be happy to pay for.
In summary, don’t paper chase, value chase and the paper will chase after you :)