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Make More Money with these Skills

In The Last Safe Investment, authors Bryan Franklin and Michael Ellsberg describe a different path we can take toward acquiring true wealth. Ultimately they argue that we should double-down on investing and spending on ourselves to develop our unique abilities. Not only will this pay future dividends but it will also allow for you to live a more fulfilling present life, immersed in your passions.

In order to achieve our best lives, the authors suggest that we develop two skill sets. First, we need to build our market skills. Market skills allow us to offer something to the workforce. For example, you go to college and study finance with a specialty in accounting and then earn your CPA designation. You have acquired the market skill of accounting and can use that to earn a living.

While this path is reliable and traditional, there are inherent limitations noted by the authors. For instance, a market skill is not terribly unique and will not allow for you to differentiate yourself from others in the workplace. As a result, your unique value cannot be exploited for your financial and professional benefit.

Instead, developing a Super Skill will allow for you to separate yourself from your peers. This type of skill can benefit your finances, career, or other areas of your life. Moreover, Super Skills are valuable in any career, industry or economy. The authors note four types of Super Skills: Interpersonal, Creative, Technical, and Physical.

First, Interpersonal Super Skills are best used in sales and leadership roles. Having the ability to perform public speaking and effectively interact in person will allow for you to represent your company at various events. Even in more mundane tasks, customers will begin to rely on you as a point of contact or an expert. In turn, you will build relationships and increase your credibility through the process. This will open doors for more opportunities to come your way professionally and for you to build a network for your entrepreneurial plans.


Similarly, Creative Super Skills are unique in that they can put you into business for yourself. For example, these skills can include writing, producing music, or creating art that can be sold. Creative Super Skills also include the ability to improvise and innovate. Creativity is a common trait among some of the most notable problem solvers, more commonly known as entrepreneurs. For instance, Elon Musk exhibits a strong creative skill set that he has used to solve energy efficiency problems with solar panels and electric cars. The ability to create a new, viable solution to a problem that adds value or saves time and resources can be richly rewarded in the marketplace.


Likewise, having the ability to create systems and perform modeling through using analytical and critical thinking will set you apart in business. Individuals who can analyze complex problems that impact many people and provide simple solutions exhibit strong Technical Super Skills. The solutions and processes need to be outside of the box, but not too abstract. Otherwise, consumers will not be receptive to them. In other words, you have to lead people where you want them to go and an analytical mind will be able to convey the steps necessary to accomplish a vision.

Separately, Physical Super Skills are those that relate to what the authors refer to as your “personal operating system of your own business life.” This involves maintaining your body, brain, general health, vitality, fitness, energy levels, quality of sleep, mental capacity, as well as your ability to concentrate. Very rarely do Physical Super Skills directly contribute to your financial wealth. However, these skills are influential in an indirect way. In other words, these Super Skills increase the value and marketability of every other skill you possess. Preserving your health and mental acuity will increase your confidence, presence, energy, charisma, and motivation thereby allowing for you to take advantage of new earnings opportunities.


While there is a certain level of innate ability in your quest toward acquiring a Super Skill, mastery of any of these four skills cannot be accomplished without deliberate practice. With each of these Super Skills, you learn by doing. Figure out which Super Skill is most intriguing and enjoyable for you. Make your process toward achievement as fun as possible. The enjoyment in the journey will keep you motivated for the hard work ahead. In time, your efforts to build your Super Skill should pay off with recognition.


As always, if you have questions or comments, feel free to send me a message. Thanks for reading.


John
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