Adam Khoo - How To Massively Increase Your Income

I am sure that no matter where you are in your career, you desire to create more income for yourself. For most people, only two options come to mind. Either they work much harder in their job and hope their boss notices their efforts and gives them a raise of 5-10%, or quit their job and find another company that will pay them 10-20% more.

When I talk about increasing your income, I don't just mean by a measly 5%, 10% or 20%, I am talking about massively increasing your income by 50%, doubling it or even increasing it by three to five times, within 12 months! Is this possible? Yes it is! And you can achieve this without quitting your job.

How? By not just focusing on your single, primary source of income. The only way to double or triple your income to create for yourself multiple streams of income. The rich never depend on one stream, but have multiple streams.

What Determines A Person's Income?

Before you can increase your primary source of income, you must first understand what determines a person's income. Why is it that one person is paid $3,000 a month while another person is paid $30,000 a month?

Every time I ask this question to people, I get standard answers like, ' age, qualifications, experience, luck, title, skill set, specialized knowledge, intelligence and so on.' Well, none of this is really true!

A person's income is determined by the amount of value he creates multiplied by the time he spends creating that value, multiplied by the scalability factor. In other words,

INCOME = VALUE X TIME X SCALABILITY

In other words, in order to increase your income, you must increase the amount of value you create, the time you spend creating value or/and your scalability factor.

So focus on things which create more value. If you think about it, there are only two ways to create value for your company. No 1 is to increase sales, no 2 is to help the company to reduce costs.

By doing that, the company will make more profits. Ask yourself this question. What will make your boss want to double your salary? Not out of the kindness of his heart. But the only way to double your salary is to double your value to the company. Simple as that. And when your value increases, it is a matter of time that your income increases too.