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MY
WEALTH
Personal Work Monetization
Posted: May 2009
Do
you Monetize your work properly?
Are you embarrassed to speak
about money?
The
money is the energy that gives
motion to all activities. It is
very difficult to find some
examples of work absolutely for
free, unless somebody is doing
that to someone very close or
for some special reason. In that
case motivation is not the money
but some other factors. Of
course there are some examples
of volunteer work, but still
every work has some satisfaction
at the end.
All
of us are working for money. We
trade our time, skills and
effort for money. We sell our Personal
Work for money. Even if the
money is not the main activator,
still we need the money to pay
our bills. So if the money is
that important in our life, then
you need to ask yourself at loud:
Are you paid enough for the work
you do? Are you doing enough to
monetize your work properly?
These
questions sound so obvious, but
do we really ask ourselves these
questions or we just accept
whatever comes to our life. The
reality is that people sometimes
are afraid to valuate personal
skills, competences and work
enough and simply accept
compensation as it is.
One
of my friends was working on
some IT project for the former
employer. The project was worth
several millions €, and it was
quite profitable considering
investment, time and fee
collection conditions. Based on
successful job done, the
employer offered to my friend a
nice bonus, around 6 monthly
salaries. The bonus was not
obligation by the contract or
any deal. Employer did that to
reward his best expert and to
motivate him for incoming
projects. Most of the people
would be really happy to see
such a generous bonus,
especially since it was
unexpected. But what happened is
the thing that most of the
people cannot imagine: my friend
rejected bonus! It sound
unbelievable, but it was nothing
but the truth. The motivation
for this personal decision is
still unknown and not
understandable
to me and to most of the people
that I told this story to. If
someone is refusing such
generous gift that comes without
any conditions he is not only
loosing financially. Such person
also discredits himself as a
person, expert and professional.
That behavior devaluate
someone’s work.
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It is highly
possible that such decision can
cause future employer to pay
less to person who appear not to
care about the money.
Potentially it can cause others
to appreciate somebody less as a
person and professional.
Most
of the people probably would
never do such thing against
their own interest. But
still you should ask
yourself are you doing
enough in the opposite
direction? Do you always try
to earn as much as you
consider your work is worth?
Do you agree financial terms
before the deal or you
accept what the contractor
consider being enough for
your work? Are you
embarrassed to talk about
the money? Are you
embarrassed to take the
money and put them into your
pocket? Do you do enough
effort for our own interest?
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For
example, when you were at
the employment interview,
did you try anything to
improve the package or you
just accepted what was
offered?
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If
you are promoted before, did
you just accepted your new
position or you tried to
negotiate your salary, bonus
and other benefits?
If
you did some part time job
did you negotiate your fee
or you simply accepted what
it was offered to you?
These
questions are not trying to
give you idea that you
should be a greedy arrogant
bastard, since that can even
lead you to failure in
negotiation. The idea is to
have balanced and realistic
approach to negotiation of
your working requirements
and adequate monetization.
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When
you
go for shopping you can see
similar product but with the
huge difference in price and
presentation. Most people
consider expensive products to
be quality and reliable. Cheap
products cause suspicious
attitude about the quality,
origin, and service.
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Similar
is with your work if you do not
appreciate your work, probably
other people will not too. If
you do not try to negotiate your
compensation, nobody will. If
you are afraid to ask for better
salary, the other side will not
be afraid to pay you less, since
you allow it. If you show some
respect to yourself, other will
give you the respect too.
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