The Secret To Maximizing Your True Net Worth
It’s so easy to get comfortable in life. We start out all excited about our relationships and careers. We’re willing to work hard to learn about the other person and develop our skills.
Fast forward five years. We’re set in our ways. Somewhere along the journey, we stopped learning and growing.
How do you fight this complacency? Here’s one trick I use: every so often, take a moment to think about your “True Net Worth.”
Your True Net Worth is what you have left when you strip everything else away – all of your relationships, all of your money and assets. You’re back to ground zero. It’s hard to imagine, but when you take away all the fancy trappings, this is who you are as a person – personality, skills, and enthusiasm.
So how do we boost our True Net Worth? Here are a few ideas:
Become More Aware:
Even though the economy is sluggish, I truly believe that there are more opportunities available than ever before. The question is where to find them, and the only way to do this is by keeping your eyes open.
A couple of years back, one of my good friends got a call from his friends back home in Tennessee. They ran a rifle and ammunition business and were actively looking to expand. My friend saw an opportunity, and leveraged his skills in online marketing to generate more than $3 million in revenues in his first year. This never would have happened if he hadn’t put two and two together.
Develop New Skills:
This is a no-brainer, and there’s no shortage of new skills to develop. A good place to start is by figuring out your strengths, and understanding where you might be able to grow the quickest.
One of my favorite examples of this is Andrew Mason, the CEO and Founder of GroupOn. Andrew was a music major in college, and graduated without a job. He quickly realized that in order to make any real money, he needed to develop some skills, so he learnt how to program.
Later on, he used these skills to launch GroupOn, and started learning about how to manage and scale a growing business. These new skills have allowed him to be a successful CEO in a very competitive industry.
Cultivate Your Personal Brand:
It’s great to have skills, but they don’t mean much unless someone knows about them. If you are good at something, don’t be modest! Make sure that people know what you can do and how valuable it is. This sense of expertise is what’s going to command the big bucks.
An exceptional example is Ramit Sethi, at I Will Teach You To Be Rich. Ramit was only 22 years old when he started blogging, and he quickly got featured in the Wall Street Journal. This wasn’t easy; he pestered editors night and day to give him a featured spot, and they finally gave in.
But it was worth it. Afterwards, Ramit’s traffic hit an all-time high. Moreover, he was able to tell people (and clients) that his blog had been featured in this prestigious publication. His consulting and public speaking rates went up and he has never looked back.
How do you plan to boost your True Net Worth? Please share in the comments.