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The only sure-fire investment

The only sure-fire investment

There’s only one investment that’s absolutely guaranteed to give you a great payback, regardless of the state of the economy and the uncertainties of this fragile world. I’m talking about the investment you make in yourself.

Think of yourself as a business

Imagine you’re Jane Doe, Inc. Whether you’re self-employed or work for a giant corporation—or even if you’re not in employment at present—this business is your basis for financial survival. If Jane Doe. Inc. is a sound business—meaning it offers real value to its customers (your employer, your boss and your colleagues)—it will prosper and provide you with a lifetime’s return. And that’s the case whether your “business” is selling your time and effort in a physical sense, your expertise, your creativity, or your willingness to do what the company asks of you. Whatever it is you do in return for payment is your “product.” Your “business” sells that “product” for wages, salary, commission or tips.

The world is extremely competitive. There are thousands, millions of people offering “products” that compete directly with yours. They could be John Doe, Inc., based in the next door house to yours. Or Jacques Doe, S.A. in Paris; Jonathan Doe, PLC in London; Helga van Doe, Gmbh. in Dusseldorf; or Do Lin Ji in Beijing. Everyone is part of a global market. For your “business” to prosper, you have to offer some kind of value that gives you an edge. If you don’t, you’ll be treated as a commodity.

Commodity businesses are tough

A commodity is something like coffee, or wheat, or hours of low-level work. It doesn’t matter where it comes from. If a company wants hours of time manning a help desk, it wants to pay as little as possible for those hours. And if that means it employs people in India rather than Indiana, who cares? The “commodity” is the same. We generally believe coffee from Colombia is superior to coffee from, say, Nigeria; but, believe me, if some huge corporation just wants to put hot, brown liquid in a trillion cups at the greatest profit to them, they’ll buy whatever’s cheapest.

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“Commodity” people are also seen as interchangeable. They’re hired as “hands:” just a living machine to do a particular job that real machines can’t do yet. No one cares very much about commodity people. If one of them doesn’t perform well, or has too much time off, or annoys the boss, they get fired. There are plenty more. In a day or so, no one will notice the difference. If the corporation needs to make some quick saving to boost quarterly profits, lay off as many of the commodity people as possible. After all, you don’t need to worry about losing valuable expertise. When the profits scare is over, you just hire some more. One is as good as another.

You don’t want your “business” product (you and the work that you do) to be seen as a commodity. If that happens, you’re at the bottom of the pile. Expendable. Replaceable at a moment’s notice. To be bought for the lowest possible price.

How do you escape the commodity trap?

  • By doing what any successful business does: creating some uniqueness in your product that marks it out and gives it added value. That means making significant investments in your personal “business”. Not once, but again and again, so you maintain your advantage. Because many of those competing businesses are investing as well.

    How would you feel if someone asked you to put your money into a scheme they weren’t investing in themselves? Would they have any credibility? Imagine being the Loan Officer of a bank. Someone comes to you with an idea for a business and wants you to invest the bank’s money in their future. It all looks fine until you casually enquire what the amount of their personal investment will be.

    “Oh, nothing,” you’re told. “I plan to use your money and keep my own.”

    Impressed? I think not.

  • Always invest in yourself first. Thousands of people every day expect their employers to invest time and cash in them (training, bonuses, good salaries, promotions, new equipment), yet they don’t invest a penny or an hour in themselves.

    Is it any wonder that their employers aren’t too keen to lay out more money? Or that they try to protect their investment by setting conditions or requiring people to pay the money back if they leave? Is it surprising most will only invest where it suits the company directly? Or that they’re unwilling to fund programs that they think might make it easier for people to get jobs elsewhere?

  • Whose “business” is it anyway? Yours, right? So you ought to have more interest in it than anyone else. And if you want your “business” to prosper, you need to get it the investment it needs, whether that means taking every opportunity your employer offers, going back to school, reading the latest books on your job you can find, or simply hunkering down and learning everything you can on a daily basis as you do what you’re paid for.
  • Every increase in the worth of your personal “business” (your experience, your knowledge, your skills, your motivation and capability) takes you further towards marking yourself out from everyone else. When times get tough, who will a business fire first? The “commodity” people: easy come, easy go. The people who aren’t seen as anything special: lots of those around when time gets better and we recruit again. The ones who can be replaced by machines.

    But companies aren’t keen to let their best people go. They’re tough to replace. They may join a competitor. The company needs them.

    And if things get really bad and almost everyone has to go, who’ll find it easiest to find new work, or start their own small business? Not the thousands of “commodity” people. There are so many of them that they swamp the few jobs available. And what can they offer to start their own business? Even gardeners and pet-sitters face competition from others who add just that extra spark of value.

Make that investment now!

As technology continues its march and it becomes easier and easier to locate jobs anywhere in the world, you need to stay a step ahead. There are fewer and fewer jobs for poorly-skilled people. The few that exist are badly-paid and chronically insecure. Of course, new jobs are also being created all the time, but they’re different jobs: more highly skilled, more technological, more professional.

If you want your personal “business” to prosper in years to come, you need to be able to take these new jobs, not cling to the shrinking number of old ones. You need to have that spark of extra value to stand out from the crowd. That takes investment of time, money and effort.

Just as banks are eager to invest in good businesses that they believe will prosper and bring them good returns, so employers are still keen to invest in staff who show they have what it takes to provide a big payback. But don’t expect anyone to invest in someone who hasn’t invested in themselves first. Even charities look for people to help themselves as well as seek help from others. Today’s employers are certainly not charities!

Will you sit around and hope someone will invest in you? Or go out and invest whatever you can—and as much as you can—first and then use that to convince others to invest still more?

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Invest all you can in yourself. Keep on doing it. You’ll never make a sounder and more certain investment in your life. And you’ll never reap a bigger reward.

Adrian Savage is a writer, an Englishman, and a retired business executive, in that order. He lives in Tucson, Arizona. You can read his other articles at Slow Leadership, the site for everyone who wants to build a civilized place to work and bring back the taste, zest and satisfaction to leadership and life. His latest book, Slow Leadership: Civilizing The Organization

    , is now available at all good bookstores.

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    Last Updated on November 18, 2020

    15 Tips to Restart the Exercise Habit (and How to Keep It)

    15 Tips to Restart the Exercise Habit (and How to Keep It)

    It’s okay, you can finally admit it. It’s been two months since you’ve seen the inside of the gym. Getting sick, family crisis, overtime at work and school papers that needed to get finished all kept you for exercising. Now, the question is: how do you start again?
    Once you have an exercise habit, it becomes automatic. You just go to the gym, there is no force involved. But after a month, two months or possibly a year off, it can be hard to get started again. Here are some tips to climb back on that treadmill after you’ve fallen off.

    1. Don’t Break the Habit – The easiest way to keep things going is simply not to stop. Avoid long breaks in exercising or rebuilding the habit will take some effort. This may be advice a little too late for some people. But if you have an exercise habit going, don’t drop it at the first sign of trouble.
    2. Reward Showing Up – Woody Allen once said that, “Half of life is showing up.” I’d argue that 90% of making a habit is just making the effort to get there. You can worry about your weight, amount of laps you run or the amount you can bench press later.
    3. Commit for Thirty Days – Make a commitment to go every day (even just for 20 minutes) for one month. This will solidify the exercise habit. By making a commitment you also take pressure off yourself in the first weeks back of deciding whether to go.
    4. Make it Fun – If you don’t enjoy yourself at the gym, it is going to be hard to keep it a habit. There are thousands of ways you can move your body and exercise, so don’t give up if you’ve decided lifting weights or doing crunches isn’t for you. Many large fitness centers will offer a range of programs that can suit your tastes.
    5. Schedule During Quiet Hours – Don’t put exercise time in a place where it will easily be pushed aside by something more important. Right after work or first thing in the morning are often good places to put it. Lunch-hour workouts might be too easy to skip if work demands start mounting.
    6. Get a Buddy – Grab a friend to join you. Having a social aspect to exercising can boost your commitment to the exercise habit.
    7. X Your Calendar – One person I know has the habit of drawing a red “X” through any day on the calendar he goes to the gym. The benefit of this is it quickly shows how long it has been since you’ve gone to the gym. Keeping a steady amount of X’s on your calendar is an easy way to motivate yourself.
    8. Enjoyment Before Effort – After you finish any work out, ask yourself what parts you enjoyed and what parts you did not. As a rule, the enjoyable aspects of your workout will get done and the rest will be avoided. By focusing on how you can make workouts more enjoyable, you can make sure you want to keep going to the gym.
    9. Create a Ritual – Your workout routine should become so ingrained that it becomes a ritual. This means that the time of day, place or cue automatically starts you towards grabbing your bag and heading out. If your workout times are completely random, it will be harder to benefit from the momentum of a ritual.
    10. Stress Relief – What do you do when your stressed? Chances are it isn’t running. But exercise can be a great way to relieve stress, releasing endorphin which will improve your mood. The next time you feel stressed or tired, try doing an exercise you enjoy. When stress relief is linked to exercise, it is easy to regain the habit even after a leave of absence.
    11. Measure Fitness – Weight isn’t always the best number to track. Increase in muscle can offset decreases in fat so the scale doesn’t change even if your body is. But fitness improvements are a great way to stay motivated. Recording simple numbers such as the number of push-ups, sit-ups or speed you can run can help you see that the exercise is making you stronger and faster.
    12. Habits First, Equipment Later – Fancy equipment doesn’t create a habit for exercise. Despite this, some people still believe that buying a thousand dollar machine will make up for their inactivity. It won’t. Start building the exercise habit first, only afterwards should you worry about having a personal gym.
    13. Isolate Your Weakness – If falling off the exercise wagon is a common occurrence for you, find out why. Do you not enjoy exercising? Is it a lack of time? Is it feeling self-conscious at the gym? Is it a lack of fitness know-how? As soon as you can isolate your weakness, you can make steps to improve the situation.
    14. Start Small – Trying to run fifteen miles your first workout isn’t a good way to build a habit. Work below your capacity for the first few weeks to build the habit. Otherwise you might scare yourself off after a brutal workout.
    15. Go for Yourself, Not to Impress – Going to the gym with the only goal of looking great is like starting a business with only the goal to make money. The effort can’t justify the results. But if you go to the gym to push yourself, gain energy and have a good time, then you can keep going even when results are slow.

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