Koch’s Surprising Business Interview

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Increasing your salary from $40k to $80k isn’t a joke, but it’s quite doable if you constantly work on improving your skill-let and put them to the right use. In order to build passive income, you need to first learn a few skills, which can bring you extra money and then you can set goals to build a million dollar empire 5-10 years down the line.

Don’t Quit Until You Succeed

If you work hard on your skills every day, obviously your self-confidence is going to increase, but a lot of people simply quit just when they’re one step away from success. This is the most common problem that majority of the people face in life.

You need to overcome all of this in order to increase your self-confidence and self-awareness. When you make-up your mind that you won’t quit until you succeed, then you’ll suddenly realise – nothing is truly impossible!

Don’t Become Obsolete in Your Company

The economy and technology have dramatically changed the working landscape. Tens of thousands of positions have been made redundant and some jobs have disappeared altogether — including many jobs in print media, where I started out.

If you’re in a large company, the first step is to look for the right department and job. Ignore the gossip and check with the personnel department to see which divisions are hiring. Internal transfers usually receive preference. Ask department heads about their long-range plans, and scan trade magazines or websites to learn which parts of your industry are expanding, and ensure that you don’t get stuck in a department/wing which in nearing end of life.

Grab the Right Opportunities at the Right Time

You must always grab opportunities which are around you, always make sure you give everything you have and take the opportunity and work on it. There might be infinite opportunities around; you just gotta’ grab the right ones at the right time!

Carve a Niche of Your Own

When I was a young, ambitious 25-year-old journalist, I looked around at all the finance media icons to see what I could learn and how I could be as good. They were all highly skilled with great contacts and much older than I was.

So I looked for what could be the next big thing in finance journalism, something so new and different than the usual rules wouldn’t apply and age wouldn’t matter.

I’d seen the boom in personal finance media in the US while visiting my parents, who were living in San Francisco at the time. So I decided to do the same thing in Australia. I think the key in any career is to look around and find an in-demand speciality where you can develop a unique set of skills that set you apart from the rest.

Get Noticed!

One of the biggest assets of a company is its brand, and you should be thinking the same way about you and your career. Do the best you can at work and build a great reputation in your company, and get noticed!

Volunteer for company projects and activities outside your specialty — it might be the social club, becoming a first-aid officer, helping on a committee.

Don’t Run After Every Last Dollar

There’s no doubt money is important. Being paid what you’re worth is important. But it isn’t the be all and end all.

My top priority has always been to be in a job I love and then be paid appropriately for doing it. I’ve always thought it’s better to be happy to be paid a little below what you’re worth and keep your job than push for every last dollar and run the risk of being let go at the next downturn.

Like most industries, the media runs in cycles.

So many people stress about how much they’re being paid down to the last dollar. I tend to look at the other rewards first and balance them up — enjoyment, colleagues, potential, conditions.

Set Goals

When you are starting your new stuff always make sure you keep small goals which are easily achievable also make sure you have a small but a quality team, having too many people wont get your anything but a small team with hardworking people will get you everything you want, make small goals and then achieve them by doing this you will get a lot of confidence and ideas about your goals in this way you can improve like anything and achieve your goals.

Get actively involved in your industry association as a member or on a committee — you’ll learn a lot and make good contacts with competitors and suppliers.

Building your personal brand is all about being seen as good at your job by your boss — and the bosses of your competitors.

Find a Mentor

You might not have had a mentor at school, but learning from others with more experience and wisdom is just as important after you graduate when you’re developing a career and even once you’ve established your career. If you don’t have a mentor, look around and find one.

Have a Fallback Option

I’ve always vowed I’d never depend on radio or television for a living. While they’re great jobs, in some ways they’re horrible industries to be in because they’re so cutthroat and volatile. When you have a single income, a couple of kids and a mortgage, that volatility is unacceptable. So I’ve always worked other jobs on the side because I don’t want to put the family at risk.

That little stash of cash from a second job gives you a fallback position for when things go wrong and a ton of flexibility to rise back.

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