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Sunday, November 30, 2008

The Law of Compensation - We're going Stratospheric!

Compensation and Stratospheric in the same sentence? Is it possible that in a few paragraphs, I can make you rich? I hope I can!

We continue our journey through the "Five Laws of Stratospheric Success" as described in my favorite little red book, The Go-Giver. Hopefully you have already read about the first law (The Law of Value) in my previous posting. More importantly, hopefully you've already applied the first law! If not, STOP! Go back and read "Stratospheric Success! Really? Stratospheric?"

The Law of Compensation
Your income is determined by
how many people you serve
and how well you serve them.

As I mentioned in my last weblog post, I'm not about to give a play-by-play of the book, but instead I will explain what I take away from it. There are three pieces to this law (income, how many and how well).
"How many" and "How well" are easy. The more people you serve and the better you serve them seems obvious to me. If you limit how well you serve, or you limit how many you serve, you can be successful. But you can only be compensated on that limited scale.

Income is the most interesting word to me. If the word "income" were not in this law, the law would be easier for me to grasp. Compensation doesn't have to be about money. I am compensated daily by the satisfactions of solving problems, working hard, helping a friend/colleague/client, getting a hug from one of my boys, etc. But none of these compensations have anything to do with income.

I think (actually hope) that this law validates something that I have said hundreds of times over the past 10 years. If I/we deep down care about every individual client and their business (truly care - not just going through the motions), and we take personally their concern/problem/business, the money will take care of itself. I have tried to live this way from the first day that I went into business.

The Condition... Remember "the condition" from the last post? Laws are great, but if we don't practice them, then we are not allowed back to learn the next law. And as I mentioned, they are easy to execute. Here's my example of what I have done recently to reach out and try to serve. I'm not sure that I hit a home run with this one, but I'm learning too.

As I was reading The Go-Giver, I had many thoughts of the group of people who I influence (and who influence me) on a daily basis - specifically the team that makes up ITConnexx. The day after I finished this little red book of genius, I ran out and bought 10 copies. I shared a copy with every person in our company. I don't expect that handing out 10 copies of a book will fill my bank account. What I hope is that we build a company of Go-Givers. I hope that every day, every person lives the Go-Giver lifestyle. I hope that every day, every person is personally compensated in the same ways that I am. And I hope that as we live this way, the money will take care of itself.

I'm sure that in a few paragraphs, I did nothing for your personal bank account. But I hope that in at least one way, I could help make you rich.

Still to come... Three more laws!!!

Brian O'Shaughnessy
Green Bay, WI


Unknown said...

Nicely written and well summarized! I strongly agree that sharing The Go Giver with people in which you are in contact is as powerful as the book itself! Thanks for sharing!

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