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Income Demand
What determines your income? What factor controls your earnings?
Is it "the economy"? Your education? Your connections? Your parents?
Is the secret to wealth, "you need money to make money"? Or can you boost your income on your own?
The controlling factor for your personal income is the same factor that controls a group's income.
"The income potential of any usual group is established by the demand for income, not by any other important factor." -- L. Ron Hubbard
In other words, the more demand you have for income, the more money you can potentially earn.
For example, if you need to pay a $300 fine or go to jail, your income demand is very high. One way or another, you get the $300.
On the other hand, if you owe the $300 to your father, your income demand may be very low. You may never pay it, unless he demands it.
If are out of debt and you have all the cash you want, your income may drop as you have no demand for income. Instead of making money, you might play golf or shop or watch TV. However, if you lose all your money and suddenly have big debts, your income may jump as you now have a big demand for income.
Many people need an outside source to create the demand for them. For example, a car salesman may not sell any cars unless his boss is watching. When the boss is absent, the salesman drinks coffee, chats on the phone and makes no money. As soon as the boss is back, he gets productive.
Income demand is essential to the success of a business. Most businesses rely on the executives of the businesses to create demand. They tell their employees: "You will be promoted and get a raise if your department's income is up this month." "Smithers, get your sales up this quarter or else!" "Everyone who increases their productivity by 10% this week gets a gourmet lunch on Friday!"
Income demand can come from any source: yourself, your spouse, your family, government agencies, bill collectors, customers and so on.
When the members within a group demand income, you see amazing results. For example, a church group with thousands of enthusiastic volunteers can raise millions in donations. If your boss AND your coworkers are demanding you work harder and make more income, your income potential goes out the roof!
When customers push a business to take their money, that business has incredible income potential. For example, if you invented a battery that lasted 100 times longer than any other battery in the world, everyone would demand you sell your battery to them. Millions of people would be demanding that you get rich.
When hit with a big demand for money, you might be surprised to see how hardworking and resourceful you become. For example, your child suddenly needs some expensive heart surgery and you have no health insurance. To pay for the treatment, you jump into your work and work out how to make the money you need.
You can also create an income demand without a medical emergency, a watchful boss or a big debt. You can create all the income demand you want . . . on your own. The most successful people in the world put pressure on themselves. Their demand is internal.
For example, you set the goal to travel around Europe. You want $3,000 for this vacation. You set a deadline and then work out how much you need to earn each month to reach the goal. You work hard and accomplish the goal!
As another example, you want to educate children in Africa. Your plan is to quit your job, live on your savings and teach African children to read and write. For this, you calculate you need $350,000. You realize you will need to save for 15 years. Yet, your personal demand on yourself is so high, that you save the money in 7 years, quit your job and pursue your dream.
Five Tips for Boosting Your Income Demand
1. Set goals that increase your income demand.
For example, if you are passionate about expanding your knowledge with advanced education, your passion will act as your income demand. You will get the money for your education.
2. Focus on the end result you want with money.
For example, "Have $50,000 in the bank" is not as good as "Save $50,000 to buy a house for my family."
3. Earn the money.
A high income demand sometimes makes people steal or cheat to get it. Of course, they are not looking into the future and do not see how stealing or cheating ruins their income potential, as well as their lives. Plan to honestly earn every dime you need.
4. Find what type of demand works best for you.
For example, if a tough boss makes you earn more money, find the toughest boss available. If going into debt makes you earn more money to keep your credit rating in good shape, go ahead and keep borrowing.
5. Create income demand in yourself.
Of course, the best demand comes from yourself. Ideally, you will create all the demand you need without outside forces.
You can do this by using self discipline, intelligence, clear thinking, persistence and passionate purposes to build your income demand.
Copyright © 2007 TipsForSuccess.org. All rights reserved. Grateful acknowledgment is made to L. Ron Hubbard Library for permission to reproduce selections from the copyrighted works of L. Ron Hubbard. Take better control of your life with the TipsForSuccess coaching website at www.TipsForSuccessCoaching.org. For permission to copy, print or post this article, go to www.tipsforsuccess.org/reprint_info.htm or click here. To subscribe, buy books, contact us or learn more about TipsForSuccess.org, click here. |
