A client’s greatest asset is the ability to generate income.
That’s an early lesson I learned as a financial advisor.
For most, this income generating ability comes from employment. For the few with investment assets great enough, it is still the ability to provide income – from their assets or otherwise – without depletion of assets before the end of the life cycle (cycles for a couple).
What strengthens income generating ability
Most of us generate income from employment; the ability to do so provides food, shelter, education and all the other things we enjoy in life. This ability to generate income also provides the ability to generate more income through investment in that greatest asset…you and your incoming earning ability.
Graduate school (or an advanced degree) has long been viewed as that next level investment for greater income generation ability. And there are other avenues to build income generating capabilities:
- Professional certification and leadership programs are gathering steam in their ability to strengthen income generating ability.
- Professional development, in a one-on-one or small group environment, can lead to even higher rewards.
Few embark on efforts to boost their ability to generate income
For a thousand reasons, few embark on such an effort to boost income-generation capabilities. Cost is an important factor, as is the time to undertake yet One More Thing! And so our greatest asset grows only to the extent that our employment provides opportunity for additional learning and development.
On the other side of the coin is the employer, in need of highly productive and engaged talent. If only those people could be found who bring skills, experience and willing energy to perform so the organization can grow and prosper. With talent in short supply and expensive to find, where can a solution be found?
An effective solution is (much) closer than you think…
Right in the organization!
Truth be told, not every employee will bring the skills, experience and willing energy necessary to grow and prosper. And yes, you will “invest” in employees who take their recently enhanced asset…and move on to greener pastures. There will be times when you “invest” in employees who are poor investment choices; ultimately, they’ll need to be encouraged to find other opportunities.
But on the other side of the coin, you will find those who appreciate their greatest asset is the ability to generate income…those who will raise their hands and willingly participate in the investment you make. These people will find their interest, commitment and engagement to the organization increased because someone cares and is willing to invest alongside them in the future.
- Professionals – what investment have you made in your greatest asset?
- Employers – what investment have you made in your greatest asset?
They are one and the same asset- the same coin – and each can benefit far greater than the dollar outlay.