When it comes to building wealth, one golden rule often stands out: Spend less than you earn. While this advice holds true, focusing solely on cutting costs misses an essential point—increasing your income.
Earning more makes it easier to meet financial goals and allows for greater flexibility in spending. For most people, the best way to increase income is by advancing their career. Below are five actionable steps to help you grow your career, boost your income, and find greater job satisfaction.
Why Career Growth Matters
Let’s be honest—career advice can feel daunting, especially if you’re unhappy in your current role. However, avoiding career growth because you dislike your job can actually prolong your dissatisfaction. By investing effort into your professional development, you can achieve financial freedom faster and may even find more enjoyment in your work.
The following five steps are simple, effective, and proven by experience to produce results. Let’s dive in.
Step 1: Be Proactive
The first step to career growth is adopting a proactive mindset. Too many people fall into one of these two categories:
- “Go-with-the-flow-ers” who do their job passively, hoping for recognition that rarely comes.
- “Hard workers” who let their efforts speak for themselves but often misalign with what their employer values.
The third and most successful group is the proactive employees, who take charge of their career trajectory. This means recognizing that no one cares more about your growth than you do. Once you commit to taking ownership of your career, you can begin to act deliberately—starting with the next step.
Step 2: Define and Document Expectations
Imagine hiring someone to mow your lawn. If they simply meet your basic expectations, you’re satisfied—but if they go above and beyond, you’re more likely to pay extra. The same principle applies to your career: clarity on expectations is essential to exceed them.
Here’s how to define your job’s expectations:
- Schedule a meeting with your boss to discuss specific performance goals.
- Frame the conversation around wanting to align your efforts with the company’s priorities.
- Agree on measurable goals (e.g., “increase sales by 10%” instead of vague directives like “grow sales”).
- Document these expectations in writing, confirm them with your boss, and refer to them regularly.
This level of transparency benefits both you and your employer, setting the foundation for success.
Step 3: Over-Deliver on Expectations
Meeting expectations maintains your current salary. Exceeding them opens doors to raises and promotions.
Once you’ve clarified what’s expected, aim to surpass those goals. For instance:
- If your target is to increase revenue by 10%, aim for 15%.
- If you’re tasked with reducing costs by $50,000, strive for $75,000.
Make sure to communicate your progress regularly. Use emails, reports, or team meetings to highlight your achievements and show how you’re going above and beyond. Consistently exceeding expectations demonstrates your value and makes a compelling case for higher pay when it’s time to negotiate.
Step 4: Be Likable
Success isn’t just about performance; it’s also about relationships. People are more likely to help, promote, or support someone they like. In fact, studies suggest being likable can have as much impact on your career as your actual skills.
Here’s how to boost your likability:
- Treat others with respect and kindness.
- Be approachable, a team player, and willing to help.
- Focus on listening and understanding others’ perspectives.
For deeper insights, read classics like How to Win Friends and Influence People by Dale Carnegie or The 7 Habits of Highly Effective People by Stephen Covey.
Step 5: Build Your Talent Stack
While becoming world-class at one skill is admirable, you can achieve success by combining multiple complementary skills. This is what Scott Adams, creator of Dilbert, calls a “talent stack.”
For example, you might not be the best salesperson, negotiator, or public speaker individually, but if you’re good at all three, you become uniquely valuable.
Here’s how to develop your talent stack:
- Take courses: Many companies offer training reimbursements or free resources.
- Attend workshops: Learn practical skills like leadership, communication, or technical expertise.
- Read or listen: Books, podcasts, and audiobooks are cost-effective ways to grow.
- Volunteer: Gain experience by taking on roles outside your comfort zone.
- Pursue projects: Ask for special assignments at work to build expertise in new areas.
By continuously upgrading your skills, you position yourself as an indispensable asset to your organization.
It’s Worth the Effort
Advancing your career and earning more takes effort—but the rewards are worth it. The choice is yours: continue coasting and achieve modest results, or take ownership of your career and enjoy exponential growth in both income and satisfaction.
Remember, the steps are simple:
- Be proactive.
- Define and document expectations.
- Over-deliver.
- Be likable.
- Build your talent stack.
Put these into action, and you’ll not only achieve your financial goals but also discover a more fulfilling career path.
Your future self will thank you.
What’s your take on these career-growth tips? Share your thoughts below!