The Law of Income
I was listening to an episode of the Lori Harder podcast-Earn your happy. Lori's husband (Chris) was talking about the law of income and this idea completely opened my eyes. I have never heard such a clear explanation for how value and income are related.
The law of income states that the income you earn is directly correlated to the number of people who's lives you are adding value to. The law has nothing to do with the type of value that you are adding, but is reflective of the amount of people you are reaching with this value. Professional athletes and movie stars are often paid enormous sums of money while other hard working professionals are paid a pittance in comparison. To many of us this doesn't seem fair, however it does hold up to the law of income. Actors make movies which are viewed by millions of people adding value to their lives in the form entertainment. Teachers add value in the form of educating children one full classroom at a time. In the eyes of most people the value that the teacher is adding is more important, but the law of income doesn't care about the type of value being provided. The teacher isn't able to reach the same number of people that will see a box office hit and so the teacher ends up making an income that is much smaller than that of the A list actors and actresses.
You will have to get creative if you're a teacher or have a similar career that the number of people you're helping is limited to the structure and administration. The normal work platform for your skills may not lend itself to reaching a lot of people. What if you could teach people over the internet? What if you could create a course or record your lessons and share them where they could reach people all over the world. Given the technology of today we can share our talents with more people and add value in ways that were not possible 20 years ago.
Whatever your skill set or talents there is someone who needs what you have to offer. The only bottleneck to your income growth is the number of people that you can help and add value to.
Instead of being frustrated by a system that seems unfair or that pays more for entertainment than it does to teach the next generation, Look for ways to reach more people and add value to their lives.
We live in a world governed by laws and when understand how they work you can use them to your advantage. This might seem overly simplified, but if you look to the top performers in your field I can guarantee they are adding value to the most people. If you want to make more money, then you need to be helping more people.