If you’ve been following me for a while, you know I’m a huge advocate of mastering high income skills.
I define a high income skill as a skill that can make you a minimum of $10,000 per month.
A high income skill delivers a lot of value to the marketplace, so you can charge a lot of money if you have the skillset.
If you’ve watched my Wealth Triangle video, you are familiar with the three components of the Wealth Triangle.
The first part of the Wealth Triangle is a high income skill. The second part is a scalable business, a business you can grow without a lot of infrastructures. The third part of the Wealth Triangle is high-return investments.
Today, I’m going to focus on the first part of the wealth triangle, and give you some examples of high income skills.
High Income Skills Are Better Than High Income Jobs
The problem with a job is that your value is set by your manager or boss, not by the marketplace.
You trade your hours for a set dollar amount, and that dollar amount is not set by you.
There’s very little you can do to dramatically increase your earnings at a job.
With a high income skill, however, to earn more you simply charge more. You can get better at closing deals and charge higher prices.
With a high income skill, you’re still trading your time for money, but you set the amount. In other words, you’re trading your hours of work for the big bucks.
Below are some examples of the high income skills I developed as I became a self-made millionaire entrepreneur.
High Income Skill #1: Copywriting
The very first high income skill that I developed in my early twenties was copywriting.
I was writing ads and sales letters for entrepreneurs and companies. Soon, I was earning over $10,000 per month using my copywriting skills.
As a young guy in my early twenties, this was more money than I’d ever seen and it felt like I was making a million bucks.
I made enough to take care of my mom and I was able to pay back the debt from my previous 13 failed businesses.
High Income Skill #2: Consulting
When I was writing sales and marketing copy some of my clients started asking me for advice on how to best use the copy. They asked me for advice on their marketing strategy.
This gave me the idea of developing another high income skill: Consulting.
I leveraged my first high income skill of copywriting and transitioned into consulting.
I started working with clients for my marketing consulting services and soon brought in an extra $120,000 per year in revenue.
High Income Skill #3: Motivational Public Speaking and Teaching
People noticed my success with marketing consulting and started asking me to teach them how to get into internet marketing.
Before I knew it, public speaking and teaching became my next high income skills.
I was conducting workshops and seminars, and people were paying good money to hear me speak.
So now, I added another six figures onto my income by delivering motivational and educational talks.
High Income Skill #4: Platform Selling
Once I had mastered public speaking, I then knew which high income skill I needed to develop next: Platform Selling.
Platform selling is an important skill because as a great public speaker will deliver value to the audience with your talk, but you can’t stop there.
You want the people who listen to your talk to take action, and this requires the skill of Platform Selling.
Within a sixty-minute or ninety-minute talk, I had to convince the audience members to go to the back after my talk and sign up to invest in my program.
My educational program would cost them a couple of thousand dollars. Once people started signing up, this became another income stream for me.
When I became skilled at Platform Selling, I started walking out of a ninety-minute talk with up to fifty thousand dollars in sales. All from closing audience members who signed up for my program after hearing me speak.
That’s why Platform Selling is such a valuable, high income skill.
High Income Skill #5: Investing
My ability to invest wisely became another one of my high income skills.
It’s important to know what to invest in, and how to invest your money.
Many people pay me to give them advice on how to invest their money.
So learning how to invest also helped me hone my consulting skills.
Stacking on Your Success
When you build one high income skill on top of another, I call that stacking on your success.
You need a layer of solid success to start with, and then you build on top of it.
My first layer was copywriting. You just read how I stacked more high income skills on top of that one skill.
I successfully stacked my success over the years, and you can do the same thing.
You Can Always Rely on High Income Skills
Even if you make a bad investment or a big mistake and lose a lot of money – you can always fall back on your high income skills.
You can rely on these skills to make you money quite easily.
My business has had its ups and downs, but I’ve been fortunate enough to be able to fall back on my high income skills.
I have friends who don’t have high income skills and only have their businesses.
When their business does poorly, they could end up in a very bad place. They don’t have a high income skill that they can use to bounce back.
My goal is to use my high income skills to increase my earnings by at least 10% each year.
It doesn’t matter how good my business is doing – I never stop using my high income skills.
I never stop public speaking, I never stop consulting, and I make sure to keep using and developing my high income skills.
Final Thoughts On High Income Skills
I’ve given you some examples of the high income skills that have resulted in my success.
Your high income skills could be quite different skills – yet still earn as much income.
Your high income skill could be graphic design, computer programming, even a golf instructor – anything that delivers value to the marketplace.
For example, I have a friend who earns over $10,000 per month as a ballroom dance instructor. Ballroom dance is his high income skill.
If you’re very good at what you do and you’re solving a problem for your clients, you can make over $10,000 per month. Start with one skill and continue to build on your success from there.