I always think about net worth this time of year. The net worth of companies I own or am partnering with, my personal net worth, and the net worth of my executive brand. I’m always hoping that each have increased from the year before. This year has been a great year because of so many of you. Thank you!
Figuring out your personal or business net worth might take some time and complicated calculations. To determine the net worth of your executive brand is pretty easy. What will your W-2 say at the end of this year? What number did it contain last year? What number do you think it will have on it next year based on the information you have right now? If you own a company, what is your owner’s equity? If you’re self-employed, what will your 1099’s add up to?
Maybe the most important question you might want to ask yourself is this: What will have the biggest impact on increasing the net worth of your executive brand in 2014?
Determine first whether the answer lies in the category of your skills, resources or behaviors.
SKILLS: Are you lacking a key skill that you need to move to the next level in your industry or field? Without that skill will you be able to get promoted, get a raise, or increase the amount you or your company can bill per hour? Do you need a particular skill to be able to choose products or services that customers will buy more of or pay more for?
RESOURCES: Do you have all the resources that you need to move to the next level? How competent are your advisors in key areas? How solid are your connections and relationships with professionals and key influencers that can help you overcome obstacles when you face them? Do you need capital to improve your position? Do you have a team dedicated to excellence or stuck in mediocrity?
BEHAVIORS: How well did you design your time in 2013 to lead to your highest-level outcomes? Have you determined which activities lead to the best results you achieved this year? Do you know exactly how long each of those activities take and when the best time is to complete them? Do you have a habit that is not serving you or others and changing it could lead to better results in 2014?
You cannot manage what you do not measure. You can measure your executive brand by certain numbers. The number at the bottom of your balance sheet, the amount on your W-2, the quality of offers you are receiving. Face the current reality of whatever it is and create a plan to improve it. That’s all any of us can do. I know you are capable of achieving whatever you believe you can if you are willing to work hard and smart.
Commit to being the best leader you are capable of in 2014. If you would allow us, we’d love to help get you there.
PS. Your true net worth is invaluable. Regardless of what is measurable by man, who you are is so much more than what your paycheck says you are. Use the information in this article to motivate you to achieve what you want to achieve and what you are capable of, not to become stuck in discussion or debate about self-worth.