Mr. Koch Says Anyone Can Increase Their Earning Power
If you want to increase your salary from $40k to $80k, then you need to work on a lot of skills and improve your lifestyle. In order to increase or build your passive income, you need to first build yourself and then you need to try different skills, which can bring you money and help you to increase your income and goals.
Work on Your Self-Confidence
If you work hard on your skills every day, obviously your self-confidence is going to increase, but a lot of people simply quit things when they start. This is the most common problem that many people face. You need to overcome all of this in order to increase your self-confidence and self-awareness. When you overcome quitting and all other excuses, it will improve your self-confidence very fast and will lead your aim through the right path.
Assess Your Job Category
The economy and technology have dramatically changed the working landscape. Tens of thousands of positions have been made redundant and some jobs have disappeared altogether — including many jobs in print media, where I started out.
If you’re in a large company, the first step is to look for the right department and job. Ignore the gossip and check with the personnel department to see which divisions are hiring. Internal transfers usually receive preference. Ask department heads about their long-range plans, and scan trade magazines or websites to learn which parts of your industry are expanding.
Grab Your Opportunities
You must always grab opportunities which are around you, always make sure you give everything you have and take the opportunity and work on it, there might be infinite possibilities and opportunities around you just need to create a vision in your mind and grab those opportunities and give
Look for a Specialty
When I was a young, ambitious 25-year-old journalist, I looked around at all the finance media icons to see what I could learn and how I could be as good. They were all highly skilled with great contacts and much older than I was.
So I looked for what could be the next big thing in finance journalism, something so new and different than the usual rules wouldn’t apply and age wouldn’t matter.
I’d seen the boom in personal finance media in the US while visiting my parents, who were living in San Francisco at the time. So I decided to do the same thing in Australia. I think the key in any career is to look around and find an in-demand speciality where you can develop a unique set of skills that set you apart from the rest.
Build Your Brand
One of the biggest assets of a company is its brand, and you should be thinking the same way about you and your career. Do the best you can at work and build a great reputation in your company.
Volunteer for company projects and activities outside your specialty — it might be the social club, becoming a first-aid officer, helping on a committee.
Slightly Undervalue Yourself
There’s no doubt money is important. Being paid what you’re worth is important. But it isn’t the be all and end all.
My top priority has always been to be in a job I love and then be paid appropriately for doing it. I’ve always thought it’s better to be happy to be paid a little below what you’re worth and keep your job than push for every last dollar and run the risk of being let go at the next downturn.
Like most industries, the media runs in cycles.
So many people stress about how much they’re being paid down to the last dollar. I tend to look at the other rewards first and balance them up — enjoyment, colleagues, potential, conditions.
Set Yourself Goals
When you are starting your new stuff always make sure you keep small goals which are easily achievable also make sure you have a small but a quality team, having too many people wont get your anything but a small team with hardworking people will get you everything you want, make small goals and then achieve them by doing this you will get a lot of confidence and ideas about your goals in this way you can improve like anything and achieve your Goals.
Get actively involved in your industry association as a member or on a committee — you’ll learn a lot and make good contacts with competitors and suppliers.
Building your personal brand is all about being seen as good at your job by your boss — and the bosses of your competitors.
Find a Mentor
You might not have had a mentor at school, but learning from others with more experience and wisdom is just as important after you graduate when you’re developing a career and even once you’ve established your career. If you don’t have a mentor, look around and find one.
Have a fallback position
I’ve always vowed I’d never depend on radio or television for a living. While they’re great jobs, in some ways they’re horrible industries to be in because they’re so cutthroat and volatile. When you have a single income, a couple of kids and a mortgage, that volatility is unacceptable. So I’ve always worked other jobs on the side because I don’t want to put the family at risk.
That little stash of cash from a second job gives you a fallback position for when things go wrong and flexibility.
Well, those tips from Koch are a boost to the fresh graduates who are just about to start their career. If they follow these diligently, they can hope for a bright future that is filled with plenty of success stories.