“All of these questions are important to ask yourself because, in order to take action or to seek change, you first have to understand truly what it is that you want and why.” – Jack Wilson in today’s Tip 552
What can you be paid for?
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today Jack Wilson, “The Guy with Ikigai” is back to talk more about Ikigai in part 4 of his 6 part series. Here he is:
Jack Wilson: What’s going on Daily Sales Tips Community. I’m Jack Wilson and I am back with part 4 of Defining your Ikigai. So far, we’ve covered a high-level overview of the framework, and we’ve laid the groundwork for identifying what you love and what you’re good at.
Today, we moved to the bottom circle of Ikigai, which is what can you be paid for?
This component is often the cost for consternation. Contrary to popular belief. Money is not a motivator. In fact, money isn’t even a satisfier. There’ve been countless studies that show around a 2% positive correlation to motivation when a financial incentive was promised. Whereas there’s shown to be a 25% decrease in motivation when expectations around those incentives were not met. This is all just a fancy way of saying more times than not money can be a de-motivator. For this reason it’s important to understand that we ask ourselves, what can you be paid for as opposed to what am I being paid. From time to time, we make lateral moves in both title and salary. Other times we might even take a step back and accept less. All of this typically done, of course, with the promise or the path to improvement. By asking what you can be paid for, it allows you to evaluate your current circumstances through that lens.
Are you happy or unhappy with your current pay? If you’re unhappy, that might be okay. As long as you’re confident that you have the skills, the path, and the opportunity to improve that within your current position. If not, maybe it’s time to reevaluate or in the least to communicate that with your leader, to help them better define that path ahead for you. Money talk doesn’t always just cause a stress because it’s a demotivator. It causes us stress because of the way it makes us feel. We live in a world that much of how we define ourselves in our worth boils down to our take-home pay much. Like when we considered what we were good at, we tend to compare ourselves to others. We look at our friends, our neighbors, and others in our line of work. And we try to stack ourselves against the competition. If you do tend to compare yourself to others, try to make it as objective as possible. Seek out salary data and statistics on free resources like LinkedIn and Glassdoor, or even considered joining a peer group, like the Revenue Collective or Rev Genius, where members share information freely with one another. It helps you to compare yourself to a broader sample size and to make sure your expectations are more realistic and objective.
But what if money wasn’t the matter and it was just a means. Try to reposition your thinking about what you can be paid for in relation to what it provides for you. Some people are driven by material possessions, the big house, the luxury car, status symbols, others are more concerned with lifestyle like travel or the freedom to work less hours and have a strong work-life balance. For some, it’s the bare necessities like just making ends meet.
What is it for you specifically? What is it that you want money to provide? What does enough look like?
All of these questions are important to ask yourself because, in order to take action or to seek change, you first have to understand truly what it is that you want and why.
Just think we haven’t even started to overlap the different pieces of Ikigai yet. For example, what if there’s something you love that you’re really good at, but perhaps you’d have to take a little less pay than the job that you have now that you hate, then what?
Once you’ve done that make sure you’re subscribed to the podcast so you don’t miss the rest of this series, or tomorrow’s tip. I’ll talk to you then. Thanks for listening!