A Seven Network Star, Mr. Koch Speaks About Capitalizing Over Earning Power

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    Is it possible to make your salary double within no time? The answer is No. As you know, you cannot change overnight and with hard work you can reach your goals.

    Always Be an Opportunist

    Well, the live example is Mr. Koch. He says that he cannot believe that he has been hosting shows for one of the best network channels. But when he started, he was working as a finance editor. He started from the bottom and here he is today. What an incredible growth! Passion alone cannot take you anywhere; it is always the hard work and grit, which is going to help you in the long run.  He grabbed the opportunity when he was called in for a finance editor post and he has gone through the changes and adapted to new things to become a host.

    Work Hard in Silence, Let Your Success Make Noise

    “Always have enough confidence in yourself to give anything a go. But also have enough confidence, if it doesn’t work out, to go and do something else.”

    That’s the single best bit of advice I’ve ever received, and I’ve tried to follow it to the letter. It came from my father, and I’m trying to pass it down to my children. In essence, it means never be scared of an opportunity. Grab it, give it your best shot, and if it doesn’t work out, then move on to something else. But never be left wondering ‘what if?’

    Be an Early Bird

    When I was a young, ambitious 25-year-old journalist, I looked around at all the finance media icons to see what I could learn and how I could be as good. They were all highly skilled with great contacts and much older than I was.

    So I looked for what could be the next big thing in finance journalism, something so new and different than the usual rules wouldn’t apply and age wouldn’t matter.

    I’d seen the boom in personal finance media in the US while visiting my parents, who were living in San Francisco at the time. So I decided to do the same thing in Australia. I think the key in any career is to look around and find an in-demand speciality where you can develop a unique set of skills that set you apart from the rest.

    Assess Your Job Category

    The economy and technology have dramatically changed the working landscape. Tens of thousands of positions have been made redundant and some jobs have disappeared altogether — including many jobs in print media, where I started out.

    If you’re in a large company, the first step is to look for the right department and job. Ignore the gossip and check with the personnel department to see which divisions are hiring. Internal transfers usually receive preference. Ask department heads about their long-range plans, and scan trade magazines or websites to learn which parts of your industry are expanding.

    Dream Big

    Every New Year I ask Libby and the kids what goals they’ve set for themselves for the next 12 months. For years they’d laugh at me. As they got older, there were fewer laughs and even a couple of answers.

    Life’s so busy these days that we don’t seem to take a deep breath, stop and think about what we want to do as individuals. But if you don’t have some sort of map, how do you know where you want to get to?

    Have an Alternate Plan

    I’ve always vowed I’d never depend on radio or television for a living. While they’re great jobs, in some ways they’re horrible industries to be in because they’re so cutthroat and volatile. When you have a single income, a couple of kids and a mortgage, that volatility is unacceptable. So I’ve always worked other jobs on the side because I don’t want to put the family at risk.

    That little stash of cash from a second job gives you a fallback position for when things go wrong and flexibility.

    Slightly Undervalue Yourself

    There’s no doubt money is important. Being paid what you’re worth is important. But it isn’t the be all and end all.

    My top priority has always been to be in a job I love and then be paid appropriately for doing it. I’ve always thought it’s better to be happy to be paid a little below what you’re worth and keep your job than push for every last dollar and run the risk of being let go at the next downturn.

    Like most industries, the media runs in cycles.

    So many people stress about how much they’re being paid down to the last dollar. I tend to look at the other rewards first and balance them up — enjoyment, colleagues, potential, conditions.

    Show What You Are

    One of the biggest assets of a company is its brand, and you should be thinking the same way about you and your career. Do the best you can at work and build a great reputation in your company.

    Volunteer for company projects and activities outside your specialty — it might be the social club, becoming a first-aid officer, helping on a committee.

    Get actively involved in your industry association as a member or on a committee — you’ll learn a lot and make good contacts with competitors and suppliers.

    Building your personal brand is all about being seen as good at your job by your boss — and the bosses of your competitors.

    The Best Mentor

    The best mentor should always work on showing the right approach for his mentee. When you are young, you will not know what is good and what is bad. A good mentor can support his mentee through his thick and thin and guide him through the right path to achieve his goal.

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