Truly a million dollar question- Literally. Let’s find out how to DOUBLE YOUR INCOME in a very short span of time. GET RICH FAST
Is it easy? Of course not. Is it impossible? Well I wouldn’t be writing about it if it were. There are ways to increase your income exponentially in a very short amount of time- Even double it! all within three to five years. Obviously we all want to grow rich fast and live the lavish life of our dreams. We want our salaries to go up, our businesses to earn higher revenues etc. However, doubling the income in such a short span seems unimaginable. And yet, I have done it.
So, how to go about this?
In a normal course, it will take about eight to ten years for a person to double their income considering that the compounded rate of growth would be 8% to 10%. On top of this, if you take inflation into account, the growth rate is almost reduced to half. In such an economy, it would take almost 15 years for the income to double. So clearly it is difficult.
“I started my career in 1995 with a salary of Rs. 10000 and 10 years later, after a series of great opportunities and unparalleled hard-work, I was earning Rs. 4 lac per month.”
How do we reduce 15 years to 3-5 years?
A salaried person will get increments and promotions which will increase their income anywhere between 6% or 15% every year. Basically, this will take them around 7 to 8 years to double their income. Whichever position you are holding in your job, the value of that position will not suddenly become 2X in 3 to 5 years. But here’s a tactic you could use to increase the rate of your income growth:
Learn how to negotiate your salary like a proclick here to read more…
Make Yourself More Valuable. This little gem of a tactic can never not work. If you are valuable enough to your company, your boss will see your potential, realize your importance and would be willing to pay you that 2X amount. Your income will not grow from jumping from one job to another. This is a serious misconception that definitely does not hold up in the long term. The employer looks for skills- What you know and what you are capable of.
However, what could help you would be Building a Skillset of a Higher Value in the market. Pile up some additional skillsets that will complement your original skillset. These skills together will make you a person of high value and demand at your workplace. It is not just about negotiating with your employer for a heftier salary or demanding a higher value of your products and services in the market. What’s needed is Looking Inwards to Work on Your Unique Abilities. Your uniqueness, and the way you nourish, grow and apply it, is what will give you the brownie points. Taking my own journey into account- I started my career in 1995 with a salary of Rs. 10000 and 10 years later, after a series of great opportunities and unparalleled hard-work, I was earning Rs. 4 lac per month. The whole time a constant, calculated and consistent effort was being made. In short, here’s the method that I used that worked out for me seamlessly-
- Understanding oneself better
- Understanding the real value of one’s skillset
- Understanding one’s unique abilities
- Developing those unique abilities to get additional skillsets
But don’t just take my word for it. Try it for yourself!
check out my Video on Getting rich faster and comment down your views about it.