Five Ways to Increase Your Income

To increase your income, improve the quality of your life and become wealthy, you have to earn your money. You have to produce a product, or provide a service, that people (companies, bosses, customers, clients, etc.) need or want.

Question: What do they want? What determines your income and your standard of living?

Answer: Valuable Final Products (VFPs).

“It is a basic natural economic law* that personal production of VFPs and one’s standard of living** are intimately related.” — L. Ron Hubbard (*Economic Law = a financial rule; how money works) (**Standard of Living = the comfort and quality of your lifestyle, such as your home, food, car and other physical possessions.)

So what is a VFP?

Your Valuable Final Product (VFP) is something that you create or produce, that is worth money. You sell or provide the VFP to someone who wants it, and then you get paid.

Definitions

Valuable: Having considerable importance; of great use or benefit; worth a high price; precious. For example, a diamond is valuable, a plain rock is not valuable. As another example, the VFP of a car mechanic is a working car engine, which is valuable. However, a heart surgeon’s VFP is a working heart which is even more valuable.

Final: The end of something; the last stage of a process; finished or complete. For example, the final result of the salesperson is a signed contract and payment. As another example, a landscaper installs plants and beautiful rocks, but forgets the watering system which means the job is not final.

Product: Something created or generated by a person, a group, a machine or a natural process. For example, the sun’s products are heat and light. One of Apple’s products is a new iPhone. One of the products of parents is a child who is happy, successful and good to others.

“Naming” or identifying your VFP is key to increasing your income. If you do not have a VFP in mind that describes the end result of your valuable work, you get nothing, right? However, if you name your product, you know what to do. You can produce that product.

VFP Name Examples

1. The VFP of a photographer is an image that accurately represents a real object.
2. The VFP of an office receptionist is greeted, happy visitor who then goes to his or her destination.
3. The VFP of a dentist is healthy teeth and a satisfied patient.
4. The VFP of a bricklayer is a perfectly-laid brick project.
5. The VFP of a school is a student who can use the knowledge taught at the school.

For a full explanation for naming your VFP, read “Name Your Product.”

Once you know what your VFP is, you have taken the first step to making all the money you need or want.

Five Ways to Earn All the Money You Want

1. Produce more VFPs.
2. Increase the value of your VFPs.
3. Sell more VFPs.
4. Switch to a better VFP.
5. Add a new VFP.

1. Produce more VFPs.

For example, instead of laying 200 bricks perfectly each day, you figure out how to lay 300 bricks perfectly each day. Or instead of selling three website packages per week, you sell four website packages per week.

If you own or manage a business, you find ways to increase productivity. For example, if you make $1.00 profit for each book you publish, and you now publish 50,000 books, you find a way to publish 100,000 books.

You can also produce more VFPs by adding new producers. For example, you can only build one new house per year by yourself. So you hire and train a crew to help you, and boost production to five new houses per year.

The “Income Skills” workbook section for this article has 10 questions to help you find ways to produce more VFPs.

2. Increase the value of your VFPs.

Make your current VFP more valuable to your customers, clients or bosses.

For example, you sell used cars. Your VFP is “Used cars sold for a reasonable profit.” You want to earn more money so you increase the value of your VFP to “Beautifully restored used cars sold for maximum profit.”

As another example, you work for a company to handle unhappy customers and think your VFP is “Make unhappy customers leave us alone.” You increase your income and the success of your company when you change your VFP to, “Turn unhappy customers into delighted customers who love us.”

3. Sell more VFPs.

Even if you increase the number of VFPs you produce, or increase the value of the VFPs, you need to SELL these VFPs. The more you sell, the more you make.

For example, your company makes luxurious blankets that your customers love. However, your income is not growing. So you figure out how to sell twice as many blankets through your website.

4. Switch to a better VFP.

If your current VFP is not generating income or taking too much time or work, find and produce a better VFP. This new VFP generates more income for you with less effort. You can then drop the first VFP.

For example, you switch from washing dogs to washing aircraft. Washing dogs takes a lot of time and work, and gives you very little income. No matter how many dogs you wash or how well you wash these dogs, you can never earn enough income for your needs and goals.

So, you must find a new VFP to produce.

You learn how to wash private airplanes by watching YouTube and then help a few pilots wash their planes at no charge. Soon, you start washing planes for slightly less than the other airplane cleaning services. Your good reputation grows and your income triples.

More examples:
A receptionist switches to being a medical assistant.
A business consultant switches from helping small cafes to helping dentists, physicians and clinics.
A web designer for small businesses switches to online security services for banks and governments.

See “How to Create Income Sources” in the Income Skills workbook for step-by-step instructions of how to do this.

5. Add a new VFP.

Ideally, you have two or three sources of income. To do this, you keep producing your current VFP and then add another VFP. Once you do this successfully, you can add a third VFP.

For example, as well as moving and storing furniture, you also move and store race cars. If that goes well, you can then add another VFP of safely and securely moving and storing valuables, like gold, diamonds and expensive jewelry.

Other examples:

A real estate agent, who sells homes, starts to also sell business buildings.
A tax preparer also manages retirement investments.
A schoolteacher also writes a best-selling novel.

How to Create Your Action Plan

The TipsForSuccess “Income Skills” workbook lists 30 questions and detailed instructions to help you discover specific actions steps you can take to increase your income (Skill #6). The workbook also includes step-by-step instructions for creating new income sources (Skill #7). Check it out at the Subscriber Home Page.