5 ways to be compensated.

  • Increased respect
  • Increased goodwill
  • Connections
  • Raises or promotions
  • Direct payment

Most people prefer the last one, however, at the highest levels, the others are more powerful. Two examples of the power of spending years building the first three:

  • Speakers like Seth Godin, Tony Robbins, Simon Sinek who can draw a crowd on their name and reputation alone.
  • Tim Ferriss who raised $500,000 in an hour for a startup leveraging his connections.

If seeking compensation for every piece of work you do, make sure the value of the compensation being offered is clear to you.