Hard work matters - but value decides success

I heard an interesting debate on the Radio this week.

One of the UK’s political parties want to limit the highest earners in big business to 10x what the lowest paid earn.

The argument was: “No one works ten times harder, so why should they earn more than ten times more?”

Now, I’m not getting political here, or offering up an opinion on the merits of who gets paid what.

But that line really stuck with me.

Because it shows a fundamental misunderstanding about how the world of business actually works.

You don’t get paid for how hard you work.

You get paid for the value you bring.

The value to your market.

Your Customers.

You could graft 80 hours a week behind the counter and still struggle, while someone else might work fewer hours but create more value, through better systems, stronger marketing, a better customer experience, or higher-margin products.

The good news?

Anyone can shift from working harder to working smarter.

Anyone can look for ways to add more value to their customers and their community.

That’s what makes a business, and its owner, more successful.

Something to ponder over.

Have a great week.

Mark