5 Ways To Increase Your InterNET Worth

Intellectual capital and intellectual property are compelling to think about, right?  We typically go about our lives educating ourselves, working hard, building families, and making a difference in the world without generally considering how much we’re truly worth.  Is this OK?  Sure it is - if we’re not interested in maximizing ourselves or our contributions. I challenge myself to ask better questions and to find different answers other than “that’s just the way it is” or “everyone needs to pay the bills”. Is that really just the way it is? There is overwhelming evidence to the contrary. We really can choose our destiny. Take a closer look.

In his essay titled The Nature of the Firm (Coase, R. H., 1937), Nobel prize-winning economist R. H. Coase (1910 – 2013) defined the legal concept of employee and employer as closely related to  the “master and servant” relationship.  He explored “...why a firm emerges at all in a specialized exchange economy.”  In this context the term firm refers to corporation or organized structure that controls and manages production of goods and services.

This is a complex subject made simpler by Coase’s flashes of insight about an individual’s desire to “...accept less in order work under someone instead of dealing with the stress normally laid on the advantage of “being one's own master.”  I suspect that this is the trap that many of us have fallen into and it can be difficult to get out - but hundreds of millions have taken the step.

According to an article by the Global Entrepreneurship Monitor (GEM, 2012), the number of entrepreneurs in the world approached 400 million across 54 countries in 2011!  That’s right 400 million—or 5.7% of the world’s population!  Keep in mind that these figures are from 3 years ago.  Let’s break it down further.  Of the millions of entrepreneurs, 39% are Women Entrepreneurs, 40% are Young Entrepreneurs (18—25), and 17% are Innovators, and 4% are Global Entrepreneurs.  Undoubtedly these individuals are dealing with the stress of “being their own master” in order to maximize their contributions and their worth in the world.

Not clear yet what this all means?  Take a look at this INFOGRAPHIC.  What can you do to increase your InterNet worth?  Here are 5 steps that you can take.

STEP 1 - Know Your Industry: Is the industry that you’re currently in growing or dying?  When will major shifts occur?  Who is the competition?  Where are they located?  What do you read to stay on top of it?  Who do you know that can help you stay smart?  If you think these types of questions are just for the “bosses” or strategists, you’re wrong!  These are the types of questions that every person should be asking themselves in order to create winning personal outcomes.

Step 2 - Know Your Numbers: How many people are there in your industry?  Where are the majority of workers located?  Has there been a shift in the number of workers in a particular location?  Is there a clear migration pattern emerging?  What is the market rate for your current position?  What is the top role in your industry?  What is the market rate for that industry top spot?  Is that role in the private sector or public sector - could be either?  Explore it!

Step 3 - Know Your Outcomes: Are you where you want to be in your career?  If not, why not?  Are you in the right industry?  What is your ultimate objective - to make a difference, to make more money, to solve a social problem, to support your family?  What alternative paths have you considered?  How much time do you intend to spend where you are before making a shift?  Have you explored higher education as an option?

NOTE: Higher education is a must-have just to remain status quo.  Don’t believe me?  Check out the competition!

Step 4 - Know Your Support System: Who do you have in your corner that can help you get to where you want to go?  Expand your networks and circles of influence. Do you have mentors or coaches?  Are you on your own?  No one gets to where they want to go on their own. Build a substantial and influential support team.  Don’t wait until the last minute to ask someone to “be your mentor”. Actively seek out individuals who have what you need and borrow with pride. This is called modeling and it’s not a crime. It’s what human beings do.  We model others to learn.

Step 5 – Know Your InterNET Worth: Social media profiles are a great way to let everyone know who you are and what you stand for. Watch your traffic! One of the first things potential employers, business partners, or curious bystanders do is to “google” you to see who you are. Are you leaving a data footprint that you’re proud of?  If not, change course and mind your data!  Clean up what you don’t want to be seen and be proud to tell the world who you really are.  My social media preferences are Twitter, Facebook, Google+, and LinkedIn along with my blog and my website.  Social media profiles are the new “business card” and I’m leveraging the advantages offered to increase my InterNET worth.

Do you know your worth - InterNET or otherwise. If not, find out. You're WORTH it!

Your Intellectual Capital Exchange Rate

OK - I'm about to sound like a professor to set the stage for this post. Here we go...

Intellect is of or related to abstract thought, understanding, communication, reasoning, learning, planning, problem solving, and the application of best practices.  That’s how I’ve defined it as part of I-Core Principles.  I’ve often wondered about the tangible value of intellect so I decided to investigate.  The categories that came to mind immediately were intellectual capital and intellectual property.


Our intellect is inherent currency that we develop through years of education, experience, exploration.  It is a way of converting what we know and can do into hard cash or market value through day-to-day transactions (ex. employee) or by unlimited multipliers (ex. entrepreneur). 

Question - what is your intellectual capital exchange rate?  Are you trading up or down?


Definitions of Intellectual Capital

• The amount by which the market value of a firm exceeds its tangible (physical and financial) assets less liabilities which consists of consists of human capital, structural capital, and relational capital (Stewart, T., 1998).
• Knowledge that can be exploited for some money-making or other useful purpose (WhatIs.com, 2007)
• Collective knowledge (whether or not documented) of the individuals in an organization or society (Business Dictionary, 2013)

Definitions of Intellectual Property

• A legal concept which refers to creations of the mind such as musical, literary, or artistic works, discoveries or inventions, words, phrases, symbols, or designs for which exclusive rights are recognized (Wikipedia, 2013)
• Property (as an idea, invention, or process) that derives from the work of the mind or intellect (Merriam-Webster, 2013)
• A work or invention that is the result of creativity, such as a manuscript or a design, to which one has rights and for which one may apply for a patent, copyright, trademark, etc. (Google, 2013)

Now that definitions have been level set, the next questions that came to mind are:

• Who benefits most from your intellectual output?
• How can you capture more of the capital from your intellectual pursuits?

Converting intellect to tangible capital in dollars and cents can be tricky.  However, consider this—you’re being paid a wage (hopefully a fair wage) based on the market value of your intellect in the position that you hold.  Is that all that your intellect is worth?  Of course not!
You are also bound by non-disclosure agreements and other legal constraints which make it necessary for you to leave behind any intellectual capital or intellectual property that you develop while employed.  This means that if you have an "Apple" or "Facebook" of an idea which gets adopted while you’re employed, it’s not really yours unless you play your cards right.


There's an ROI (return on investment) that the company will reap as a result of your intellectual contributions.  It’s up to you to know what that multiplier is and to make sure that you’re getting what you believe to be your fair share based on your intellectual contributions.


I'll continue to explore these concepts and actions that you need to take in a future post.

Now back to my regular 'voice' ;-)