What is Your Value?

If you haven’t heard me say it before listen now, value is important.

In fact, value is so important that our entire monetary system is built around it. People that are more valuable than others make more money than others. That’s a fact, no debate necessary.

This principle applies to businesses as well as individuals. Your level of success is directly proportionate to your level of value.

Understanding value is the difference between abundant living and “just gettin’ by”. It is so important that we simply cannot afford to not add value to ourselves in our lives. By neglecting the power of adding value we surrender any power we had to change our future and guarantee a better life for our children.

Therefore, today I’m going to define what value is, show you how to determine your current value, and reveal how to add more value to yourself and others.

I define value as “the amount of meaning gained by an individual that can be transferred to others for the benefit of others”. Simply put, value is gaining something meaningful that can change people’s lives from them receiving it from you.

“Value is the amount of meaning gained by an individual that can be transferred to others for the benefit of others”

Now that we know what it is lets take a look at how to determine your current value and how to add more.

Value is directly related to time. To determine your value, all you have to do is look at how you spend your time. This exercise will differ depending on whether or not you work a job or are an entrepreneur.

Determining Value

If employed determining your value is straight forward. The next time you get paid look at your hourly rate. That will tell you exactly how much your company is valuing your time at. Realize that the only way to increase your value at work is to get a raise. How to get that raise will differ with jobs and career paths.

The point I’m trying to make here is that your value is evaluated by someone else other than yourself. While you may have some control, you don’t have full control to change how valuable your company perceives you to be.

For the entrepreneur it is a bit different. You have full control, and responsibility, of your perceived value. The same way I am going to show you how to determine your value as an entrepreneur is the same way someone employed can determine their value outside of work.

Look at how your time is spent and ask yourself, who can benefit from what I just did in this block of time?

Are you closer to your goal(s) with how you spent your free time?

The main question is, what problem are you solving with your time?

“Problem solvers are often highly paid and very valuable people”

Determining your value has everything to do with your ability to solve problems. This is true for both the employee and entrepreneur. If you want to increase your income via a raise on the job, or generating more profits in your business; you’d better be in the business of solving problems.

To help you understand this theory I have created a graph that shows the linear relationship between value and problem solving.

The graph below shows that the bigger the problem, and the larger the need for the solution to that problem; the more valuable you become. The Y-axis shows the size of the problem, while the X-axis shows the amount of demand the market has for the solution.

Determine Your Value by Solving More Problems
Value is increased by identifying the size of the problem and the amount of people looking for the answer

So spending your time not solving any problems for anyone puts you at the low end of the value graph. Case and point, for someone who plays video games all day is not solving any problem at all. They are worth little to no value to the general population, thus their time becomes of no value as well.

Take a person that is solving the problem to increase battery life in cellular phones and see that they not only become highly valuable to the general population, but their time increases in value due to the importance of the solution.

Increasing Your Value

Increasing your value goes hand in hand with determining your value. The point of correlation is solving problems. Increase your value by solving problems. However, these problems don’t just have to be for others. They can be a problem of your own.

There are numerous inventors and entrepreneurs that faced problems or challenges in their life that when seeking a solution found none. These same individuals then created the solution for themselves only to find out that the problem was more widespread than they thought. A lot of products we use today are the results of someone solving an issue in their life that benefited many others with the same problem.

Establishing the correct habits can increase your value as well. Practicing the habits of the successful and wealthy can teach you how to spend your time in a manner that will add value to your life. Some of these habits include:

  1. Reading self help books
  2. Working out regularly
  3. Waking up early in the morning
  4. Establishing a to-do list before starting to work each day
  5. Deepening your relationship with God
  6. Quiet time spent with your family

Pick any one from the list and start adding more as you go. It’s not about the amount of habits, but the consistency in which you can perform them in your life.

Adding value to yourself is the single most important attribute of success. No value, no difference made. No difference made, no money. That’s how it goes.

So if you want to make a difference in your life as well as others, make sure you’re doing all you can to add value to yourself. Once you do so, you will realize that you will gain more control of your life. Your focus in life begins to shift on what you can get to what you can give.

Ultimately giving value, or adding value to others can be a great asset in life and in business. So make the decision today to commit to a life of adding value to as many people as you possibly can. Build a business around it and watch how money seems to find you instead of you hunting for it.