Wealth and Adding Value

Why do some people make more money than others? And not just more, but exponentially more at times? While some people are earning minimum wage, others are making millions or billions of dollars. What sets them apart?

I believe it has to do with providing value. I am generalizing, but the people making more money, are often adding more value to the world, than those who make little. An entrepreneur who creates a service that revolutionizes an industry and makes live easier for millions, is adding far more value than a person who is doing a job that nearly anyone can do.

There are obviously exceptions to this. Some people, by luck come into positions of power and wealth that they did nothing special to get. Some people use bribery and corruption to attain wealth. Some people steal and take by force what belongs to others. But in the process of doing so they will form enemies or insecurities that will make it more difficult to have a truly fulfilling life. It is far better to become someone who is actually valuable, and therefore people are willing to give you money for the value you add.

So how do you create value? It can be done in various ways. You could have developed skills and knowledge that others don’t have, which could provide value. You could have an idea that addresses the needs of people. You might have life experiences that others could learn from.

But it is not merely enough to have something of value to offer. You actually have to offer it. If you have skills and knowledge, you need to find a way to reach out to those who would benefit from your abilities. If you have an idea, you need to find ways to turn it into a reality, so that others could benefit from it.

Most people falter at this step. Many people have specialized skills, or knowledge, or experience or ideas. But they don’t believe that this would be of use to anyone else, or that they are not capable of making a living from it, and therefore do not try to add their value to the world. And I feel that this is a shame as world could be much better with more people contributing to it by creating value. Obviously, there will be obstacles in the way, but if they continue to persist, and have the ability to learn from mistakes and set backs, the results will follow.

In the end, becoming wealthy is closely tied to serving others. When you use your specialized abilities to improve someone’s life, or create something from an idea to serve the world, and put a fair price on the value you add, then wealth is the natural outcome. What you do with that wealth, however, is another story, which I won’t go into now.

JP

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