🌊 Maximise your earning: Blue Ocean Strategy & Market Reality!
I finished reading Blue Ocean Strategy and the Start Up of You and wanted to share a few points of earning more.
It could be through your full time job or side hustle!
✊ 1. Pick your competitive edge
You need to consider what skills you are better than your competitors?
What skills come naturally to you while others find it difficult to learn?
🏀 2. The competition platform should be as niche as possible
For example, I have a competitive edge on the LinkedIn platform. So I would pick LinkedIn as my battlefield.
However, if I were to compete with others on Youtube, Instagram, Twitter, TikTok or Facebook, I would lose instantly 🚗
You need to AB test which platform that you have a better edge and focus deeply.
🛍️ 3. Consider market reality
Will people pay for what you are good at?
- I had a Youtube channel on books and it paid me almost nothing even though reading is my favourite hobby!!!! (It is a sad reality that I must accept 📙)
- You need to sell your skills where customers are willing to pay as well as you enjoy doing.
3.1 Is your industry thriving or declining?
📘 I have read multiple books that there are the most opportunities in a growing industry.
🌊 However, riding against the waves will not do you well.
If you are an analyst at GS, but the finance industry is declining, the best way to pivot to something relevant and growing would be corporate finance in the healthcare industry.
But of course you also need to consider whether healthcare is something you enjoy.
✏️ What other tricks and strategies have you learnt to boost your earning power?
✏️ Recession has almost been more than 1 year. What have you learnt?
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🔥 Negotiate for salary increase or promotion!
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