I see so much these days claiming the value you provide determines how much you earn. Facebook is a great repository of this ‘wisdom’.
It’s total BS.
Mother Theresa. Nelson Mandela. Ghandi. Massive value, low remuneration.
Remuneration = ((Value provided/Desirability) x Difficulty) x Strategy
If you want to earn more, yes you need to provide massive vale, but the more undesirable the work is and the harder it is will also determine what you earn, and finally you need to be strategic about it.
Consider Richie Macaw.
He provided New Zealand massive value. Tick.
His job was very desirable. Cross.
His job was very difficult. Tick.
He played rugby. Tick in the New Zealand context, cross in the world context.
Compare him to Steven Adams who chose basketball and will be earning twenty time what Richie earned.
Remember, it’s not just about value, that’s a fool’s way of looking at remuneration.
When it comes to your business, what’s more important, revenue or profit?
I run a course called Board of Directors. Business owners join me for two days every three months and we go deep on their businesses, and their own personal psychology.
Recently we got some HR people in to help us improve our professional development program at MedRecruit.
People often talk about the impact they want to have… In the future.
After a crisis, most people aim to get back to the state they were in before the crisis.
Recently the World Medical Association ratified a change to the Declaration of Geneva, the modern-day Hippocratic Oath, the value-set of doctors worldwide, to include the health and wellbeing of doctors.
I was recently speaking to a group of corporates.
And I had to smile.
I speak to a lot of groups of people AND Purpose is something that I’m big on, and it invariably leads to someone asking the question, “I don’t know what I want to do. What should I do?”
“When is it giving up, and when is it changing direction?” is a question I get asked a lot.
Some people like beer.
Some people like wine.