If you want to get rich at work, it’s not so much about where you work but what you do, according to Grant Cardone, famed serial entrepreneur and author of “The 10X Rule” and “The Closer’s Survival Guide.”
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In the era of side gigs and passive income streams, you may think you need multiple ways to earn money just to keep your head above water. However, Cardone maintains that you can boost your earning power at your current position, rather than adding a second (or third, or fourth).
Here are his three big tips for making more money at your current job.
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Start Directly Contributing to Your Company’s Revenue
No matter what your current job description states, you need to start directly bringing in revenue.
“I would get as close to the revenue generation of the company as possible,” Cardone told GOBankingRates. “If you’re an engineer or you’re in shipping, you’re too far away from the action. You’ve got to get close to the gold.”
This may mean going beyond your job description.
“A lot of people just do a job, and they’re like, ‘Well, I’m good at my job.’ And I’m like, ‘Yeah, but you’re too far away from the gold mine,’” Cardone said. “The company’s there to generate revenue and get new customers. What you need to do is look for the opportunity for revenue.”
This might mean contributing to your company’s bottom line directly by the services you provide, or by bringing in more cash flow by finding more customers or clients.
“Look at the company and where the revenue of the company is coming from,” Cardone said. “You need to not be disconnected because of the post you have, and be connected to the flow of revenue in and out of that company and see how you can assist — either bring in more revenue or bring in more customers that would then bring in more revenue.”
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Focus on Your Current Job Rather Than Taking on a Side Gig
Cardone believes it’s a much better use of your time to maximize your earnings at your current job rather than add on more working hours.
“You have to start looking for the opportunity: How can you produce new income without adding time?” he said. “This is a mistake most people make: They will get a second job, they work on the weekends, they do some side hustle at night. All they did was add more time to get a few more dollars, when they could have simply stayed where they were in the environment they’re in.”
It’s Essential To Not Get Complacent
Many people stifle their own earning potential by focusing too much on the job they are doing rather than looking for ways to expand their roles to earn more.
“You’re not connected to the revenue only because you fix yourself in a job,” Cardone said. “But at some point, [your company is] only going to pay you to do a job well so much. They’re not going to keep paying you to get better at your job. There’s a cap.
“At some point, if you want to make more money, it’s not getting better at your job, it’s sliding over into lanes where you’re like, ‘Not only did I get my projects done, but I brought on three new clients for us this month.’”
Even if you already work in sales and bring in revenue directly, it’s important to look for ways to bring in more business.
“If I’m a salesperson, then I’m going to look at, ‘OK, what can I do to drive more business to the company?’ Because I can only sell so many people,” Cardone said. “This was the biggest mistake in my career. I was a consultant in a company and, at some point, I had to understand that I only had so much time to sell. At some point, I had to figure out how to market better, how to promote better, how to drive more traffic to my company.”
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Sources
Grant Cardone, “The Closer’s Survival Guide”
This article originally appeared on GOBankingRates.com: Grant Cardone: 3 Ways To Get Rich at Your Current Job So You Don’t Need a Second
