How Anyone Can Earn a (Much) Higher Income - Proctor Gallagher - Deepstash
How Anyone Can Earn a (Much) Higher Income - Proctor Gallagher

How Anyone Can Earn a (Much) Higher Income - Proctor Gallagher

Curated from: proctorgallagherinstitute.com

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A Law is a Law is a Law

A Law is a Law is a Law

  • When you drop something from the roof of a building, you don’t have to guess or wonder what’s going to happen next.
  • You know with 100 percent certainty that the object is going to fall to the ground or whatever is directly below it.

How do you know?

  • You’re aware of and understand the Law of Gravity.
  • Well, the Law of Compensation is just as exact.

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The Law Of Compensation

The Law Of Compensation

This Law clearly states the amount of money you earn will always be in exact ratio to :

  1. The need for what you do.
  2. Your ability to do it.
  3. The difficulty there will be in replacing you.

Let’s look at each of these things one at a time.

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The Need for What YOU Do

The Need for What YOU Do

  • People who are paying you for products or services put a certain measurable value on your contribution.
  • If there’s a great need for what you do, you are valued higher than if there’s not much of a need.
  • Affirmation : There’s a huge need for the kind of work I do, so there’s an opportunity to earn millions of dollars.
  • Of course, not everyone who works in a field where there’s a high need earns a high income.
  • That’s where the second factor of the Law of Compensation comes in.

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Your Ability To Do it

Your Ability To Do it

  • When you work in a field where there is a tremendous need, AND you become very good at addressing or filling that need, your compensation goes way up.
  • However, you must be very, very good at what you do. Otherwise, it’s easier to find people who can do the job as well as you, and you’re not going to get a big jump in your income automatically.
  • You’ve got to master what you do so that you can command a high salary no matter where you work.

And that brings us to the third and final factor of the Law.

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The Difficulty There Will Be In Replacing You

The Difficulty There Will Be In Replacing You

  • If there are five equally qualified and motivated people waiting for you to quit your job so that they can do your job equally well, you have very low leverage in negotiating a good or better salary.
  • If, on the other hand, it would take your employer months and months to get someone even half as qualified to do your job as well as you do it, your employer will pay you a very high compensation because you’re going to be very difficult to replace.

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Focus on This for The Highest rewards

Focus on This for The Highest rewards

  • No matter how highly you price yourself, these three factors determine the amount of money or its equivalent you get for your work.
  • However, if you concentrate your efforts on the second factor - YOUR ABILITY to do the work and you become a MASTER at what you do, and you will be rewarded abundantly.

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You Always Get Back What You Send Out

You Always Get Back What You Send Out

The Law of Compensation is a demonstration of the Law of Cause and Effect - the law that decrees that whatever you send into the Universe comes back.

  • Action and reaction are equal and opposite.

Increasing your ability to the job is the cause; earning more money is the effect.

  • If you take care of the cause, the effect will always take care of itself.

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What’s your pleasure?

What’s your pleasure?

Prosperity is available to anyone who chooses it.

  • Thankfully, there are countless ways to earn as much money as you want.

The easiest and most sound way to enjoy financial freedom is TO CREATE Multiple Sources of Income (MSI).

  • To do that, I recommend that you think about and choose several things that you love, like, want to do, that you have confidence in, and that will reward you financially, psychically and emotionally.

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Multiple Sources Of Income (MSI)

Multiple Sources Of Income (MSI)

MSI are passive revenue streams coming in that are beyond the income from your current job, vocation, career, or livelihood.

  • If you have a job, you only get paid while you’re working.
  • However, creating passive revenue streams allows you to make money around the clock.

MSI may include creating something that is a vertical or horizontal market extension of what you do, becoming an investor, generating royalty income from creative work, or getting paid in 101 different, new and exciting ways.

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Step Up To The Plate

Step Up To The Plate

It takes only one well-executed big idea, well executed, to harvest six or seven figures from MSI.

  • However, you don’t have to hit the ball out of the park on the first swing.
  • This isn’t all or nothing.
  • If your first attempt only generates a few hundred dollars a month, that’s a significant step in the right direction.
  • It doesn’t mean that it’s all you can do or the best you can do - it’s just the first step.

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Continue To Visualise These

Continue To Visualise These

Just create the picture in your mind of HOW MUCH you want to earn and HOW YOU WILL LIVE WHEN YOU REACH your income objective.

  • Whether u feel comfortable with or believe that you can earn that amount of money, is not important at this point in the creative process.
  • Just constantly visualize the exact picture of what you want.
  • It will eventually become a desire and provide the necessary motivation for you to discipline yourself in forming new habits that support your vision and create the results you want.

Make sure the new habits formed are aligned with the 3 principles of the Law of Compensation.

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IDEAS CURATED BY

dymphna

Lawyer turned Artist Visionary Curator & Gallerist. Empowering self-love and joy through art & words. www.innerjoyart.com 💝 Instagram : dymphna.art

CURATOR'S NOTE

Another wisdom shared by my favourite success coach, Bob Proctor. 🙏🏻

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