It's time to raise the wage, and we're not taking no for an answer!
At least that's what it says on President Obama's website. He's talking about raising the national minimum wage, and it sounds like he means business.
Check out more of his minimum rage…
“No one who works hard in America should have to raise their family in poverty, but the federal minimum wage hasn't kept pace with the rising costs of basic necessities for working families.”
– President Obama
EVG Research Team here, and we understand wanting to help people climb the economic ladder.
We even understand why some people look to legislation to help people get out of poverty.
But tell me, how much do you have to pay a machine per hour?
No matter what you think about the minimum wage, the fact remains:
The higher the minimum wage goes, the more incentive there is to fire low-skilled workers and automate instead.
Machines, robots, software… these can all replace employees without taking a paycheck.
For example – while protesters have been demonstrating for higher wages at fast food restaurants, McDonalds has been experimenting with employee-free kiosks to take customer orders.
Now a computer screen will ask if you want fries with that.
Bottom line, raising the minimum wage always comes at the risk of unintended consequences.
And we think there's a better way.
The Real Way to “Raise the Wage”
The best way for anyone (not just minimum wage workers) to raise the wage is to raise your skills so you can create more value.
As EVG Founder, Mike Dillard, wrote inside one of our most popular members-only lessons:
Through our free-market system, the world dictates how much money you make, according to three factors…
- The number of people who are also capable of performing any particular job.
- The amount of specialized skills or education needed to perform the job.
- The number of people around the world that your work benefits. (Leverage).
On Factor #1: The reason fast-food jobs pay so low is there's an almost endless supply of workers who can do the same work, and many of them haven't even graduated high school yet.
On Factor #2: It doesn't take any special skills or education to do the job.
On Factor #3: Let's stick to the first two factors today, and we'll get to Factor #3 next week.
The good news is, Factor #1 and Factor #2 are related.
By getting the right education or improving the right skills, you're also shrinking the pool of people who can do the same job as you.
You become more valuable, and more rare, at the same time.
And this boosts how much an employer is willing to pay you.
On this subject, Mike knows what he's talking about.
He knows from personal experience that increasing your skills is the best way to raise the wage, because that's exactly what Mike did.
How Mike Dillard
Beat the Minimum Wage
To date, Mike has built three separate 7-figures businesses from scratch.
But before he became a multi-millionaire entrepreneur, he worked several minimum wage jobs that were not at all glamorous.
Telemarketer, waiting tables, and selling door to door.
Each job helped him gain a new skill, and was a strategic part of his plan to become a millionaire by age 30.
Well, as you may know, the plan worked, and three years ahead of schedule.
Mike became a millionaire at the age of 27.
The full story is pretty exciting, complete with sneaking past security guards in skyscrapers and almost getting fired for outsmarting his boss.
I'll tell you all about it in the next edition, but if you want to hear it now, join The Elevation Group (EVG).
You can hear Mike tell the story himself inside the lesson, “How to Increase Your Monthly Cash Flow With a Home Business.”
And if you want to follow in Mike's footsteps and become a millionaire yourself, then a membership to The Elevation Group may be your ticket to the top.
EVG brings the wealth strategies of the ultra-rich to the middle class inside of our private membership site.
And without exception, every single wealthy person Mike knows owns a business… if not multiple businesses.
So we teach you about entrepreneurship, and we also te6ach you how to invest the profits from your business just like the rich do.
We've put together a free presentation to tell you all about it. Just click the link below to watch.
And if you know someone just starting out in the workforce, maybe at minimum wage, then you may want to share this blog post with them for inspiration.
Your Partner in Prosperity,
The EVG Research Team