Do you recognise the importance of your seat value in your business?
This value is what you are salary worth in the physical and emotional space you take within your business working space to run, lead, and manage its growth. “Seat value” is a term used in the hospitality and pub industry for every seat available in the establishment or customer floor space it must turn over an expected revenue to justify its place in the business. You the business owner take the same seat space in your business.
Many business owners barely rate and pay themselves above min wage, and equally many justify poor salary against slow periods, a justification of no income to protect the business. This common low business mindset practice is diseased throughout business poverty efficiency. Yes, I put the words poverty and efficiency in the same sentence, and as fusing as that will sound when reading out loud many business owners are happy to marry those words. A great disguise for low leadership business ideas values.
Let me put this in another way, if you employ a skilled person for 30k a year you are paying for all that person experience up to that point in time of employment into your business. The new employee should then offer into your business at least ten times that salary annually in new ideas potential. That does not mean the number will accurately hit that expectation, but the ten times effort of ideas growth must be practiced for the business to advance from the invested 30k annually from that person’s quality of mindset and ideas values. This practice will then organically grow the business and force a return of employee salary investment.
This leads me on to you the business owner. You cannot increase your seat value unless you work on the who you are to better what you are, a phrase over used but incredibly accurate, and the who you are is your interpersonal advanced soft skills . The seat value math in business is overlooked because it points the accountability back to the accountable person – the owner, the leadership team or even every employee in the business. Is the quality of your ownership and or your leadership into your business equal to your salary, should you be paid less or more?, Please take your time to answer, it takes a healthy ego to see cracks in self value. When you upskill your interpersonal mindset to increase experience rather than the other way round you are multiplying organic growth, that growth then organically gets adopted by all the business tools and processes that then uptakes into efficiency and growth.
Business regardless of its module is designed to make money from an excellence of service and product, regardless of climate or purpose. Just like a car is designed to drive, business has its own same one direction purpose, and the car requires a driver with skilled awareness and good quality fuel, same for your business, you are the mindset fuel to your business drive. Your current seat value salary is your current quality of mindset and belief in success. When you increase your seat value you increase your demand on your value to the business as would be the same for any employee.
Do not hide behind poor excuses for poor salary or even over-inflated salaries that math’s too synthetic seat values. Really assess the quality of your seat value to your business and move the math and re-invent who you are projecting out. Money is emotion and emotions are your value