One of the most powerful ways to add value in the nineties and beyond is understanding that in today’s society, wealth is created by distribution. Products and services are changing constantly, but those who’ve figured a way to take something of tremendous value and deliver it to a mass number of people will prosper. This has been the secret of the richest man in the United States, Sam Walton. He became wealthy by creating a distribution system.
(He was a businessman and entrepreneur best known for founding the retailers Walmart and Sam’s Club. Wal-Mart Stores Inc. grew to be the world’s largest corporation by revenue as well as the biggest private employer in the world. For a period of time, Walton was the richest man in America.)
If you can figure out how to take something that already has great value and distribute it to people, or distribute it at a lower cost, then you’ve found another way of adding value. Adding value is not just creating products; it’s finding a way to make sure that more people experience an increase in the quality of life.
“All wealth comes from adding value, from producing more, better, cheaper, faster, and easier than someone else.”– Brian Tracy
Apple Story of Value Addition
Power of value addition can be seen in exponential growth in the market cap of US technology giant Apple. Earlier it was very difficult to imagine for any company to have a $1trillion market cap. Apple became the first company to hit a stock market valuation of $1trillion in August 2018. Then within almost two years’ time, achieved a market cap of $2trillion in August 2020. Now, it took just only around 17 months for market valuation to rise from $2trillion to $3trillion.
One of the main reasons for this growth is the culture of constant value addition in Apple to its variety of products and services. Their distribution network is of the top-notch standard on both online and offline platforms. The world’s biggest technology companies saw demand soar as people became more reliant on smartphones, tablets, and laptops during lockdowns. Future products like Apple car, AR (augmented reality), VR (virtual reality) related products and services will continue to boost its valuation.
Why Do People Lack Financial Prosperity?
If we really think about it, we know why people don’t do well financially. Yes, they have limiting beliefs. But more importantly, there’s a core belief that most people have: they should get something for nothing. Most people, for example, expect their wealth to grow each and every year, whether they’ve increased their contribution to their company or not.
Raises should be tied to increased value, and we can easily increase our value as long as we educate ourselves and expand our range of skills. Any company that continually gives people raises without its employees finding ways to add more value is a company that’s going deeper in the hole and will eventually find itself economically troubled or destroyed. If you’re asking for a raise, you’ve got to find a way to add at least ten times more value than what you’re asking for in return.
Companies, too, must realize that as they’re looking to invest in equipment, the equipment gives a limited return. As Paul Pilzer (an American economist, New York Times best-selling author, and social entrepreneur) says, labor is capital, If someone makes $50,000 a year and can generate $500,000 in value, why not take this person and increase their skill, ability, talent, attitude, and education so that they can add a million dollars in value? A $50,000 investment that brings a $1 million return is a very, very valuable asset. There is no better investment that companies can make than in the education and development of their own people.
“Wealth is the product of man’s capacity to think.” – AYN RAND
Value of Empowering Questions
In the words of Anthony Robbins (an author, coach, speaker, and philanthropist) “For years I helped people throughout the nation increase the quality of their lives by taking ideas that were valuable and delivering them in a way that people could truly utilize them. By creating technology for change and delivering it in an impactful way, I prospered. But my prosperity exploded when one day I asked myself, “How can I reach more people than ever before? How can I reach people while I sleep?” As a result of those empowering questions, I discovered a way to expand my influence in a way that I had never even considered before: by offering my audiotapes through television.
That was two years ago. Since that time, we’ve now distributed over 7 million audiotapes of my Personal Power program around the world, sharing ideas and information that continue to impact people twenty-four hours a day! My partners at Cassette Productions estimate that, in the last twenty-four months, the amount of tape that’s been used to carry my message is enough to circle the earth twenty times at the equator! In the process, I’ve had the joy of knowing that we not only impact the quality of life for all those who have used our tapes, but we’ve also provided about 75,000 hours of employment in the manufacturing process. This does not include all the hours that other vendors have spent as well.”
You’ve heard many examples of how adding value creates wealth. The formula is simple and powerful. Ask yourself these empowering questions like, “How can I add more value to any environment I’m in?” In your work environment, ask yourself the question, “How have I made or saved my company money in the last twelve months?” The true contribution makes life richer, so don’t limit yourself to adding value strictly for personal gain. How can you add more value in your home, in your school, in your community? If you can figure out a way to add at least ten times more value than what you’re looking for, you’ll always feel fulfilled. Imagine what life would be like if everyone followed your example. (Inspired from “Awaken the Giant Within” by Anthony Robbins)