The Law of Compensation
Being an avid personal development student, I came across Bob Proctor, sometime in 2002, through a Brian Tracy program. I immediately liked the simple way he explained the principles and operations of the Power of Belief and Compensation. His materials resonated with me because it reinforced my belief in who I am in Christ.
I bought most of his materials, my favorite was – Your Mission in Commission. I applied the simple principle of the Law of Compensation in the program to how I market lubricants in Africa. This concept is simply the restatement of the – Law of Sowing and Reaping. Even though I was relatively successful in Marine Lubricants Marketing, within a short period of time our lubricant sales shot up, and our market share was close to 80% of the Fishing sub-sector of the Marine lubricants market.
This sector consists mainly of the territorial and ocean going fishing trawlers. When we entered the Fishing Lubricants market with Castrol Marine Lubricants, our market share was 0% but within a 6 year period we had a market share of about 80%!
This phenomenal growth had nothing to do with intellectual prowess, or any form of superior product knowledge, but simply by using the principles laid down in Bob Proctor’s material and applying it to the marketing effort.
I also want to acknowledge that the growth could not have been achieved without the support of other Marine team members; the production staff that made sure we not only had quality marine lubricants but on-time availability of the products. Mention must also be made of the support of BP/Castrol in developing the local Marine Lubricants Market.
Having this phenomenal achievement in sales was the core reason why I had the desire to relocate to the cold country – Canada. My belief was so fired up from studying the “Your Mission in Commission program” that leaving a very stable and promising career in Africa was a non-issue. I felt that I could recreate this success in any environment I found myself. Someone might ask – was it truly a promising career – if so why leave and move to a foreign country? Sometimes I ask myself this same question. I’ll like to answer the question with the main principle enumerated in the – Your Mission in Commission program – “The Law of Compensation”. It states that your income or results will always be in exact proportion to:
- The need for what you do (This could be your vocation or business).
- Your ability to do it (How good are you; are you stretching yourself to be the best in your field?).
- The difficulty in replacing you (When you do #2 and stretch to become the best at what you do, then # 3 takes care of itself; you become more or less indispensable).
I would like to elaborate on the principles of The Law of Compensation as follows:
1. The need for what you do
The first part of the Law of Compensation generally takes care of itself. It is only on a rare occasion that a person must leave the field they are presently in to earn the amount of money they want. As long as there is enough demand for what you have to offer. Then you are positioned to accelerate your success in your current field, using the principles of the Law of Compensation.
2. Your ability to do it
This second part of the Law of Compensation, if dealt with honestly, will raise your income or performance faster and higher than any other factor. It is the magic key to wealth for anybody, especially in sales. But this concept can also be applied to any endeavor or vocation. The understanding and application of Part 2 of this Law will move you from a life of comfort to one of luxury. The goal here is to be the best at what you do! Learn all there is to know about your industry and develop yourself.
3. The difficulty in replacing you
When you look after the second part of the Law of Compensation – Your ability to do it, the third part will take care of itself. As a salesperson or a worker, how difficult would it be for your company to find someone who could sell as much as you have been selling? If you did not answer – Very Difficult, then you need to revisit the second part of the Law of Compensation! Endeavor to master what you do and become the best at it!
For me, when I resigned from the Oil & Gas job to relocate to Canada, the management did not believe that I was serious about leaving and they placed me on a contract with close to double my original salary. Now tell me who does that! It’s not that I was very intellectual or have some product knowledge prowess or skill; I graduated with a Pass Degree. The difference is in knowing who you are and working with the Law of Compensation to produce results that cannot be denied.
I don’t know what working with the Law might mean to you, but for me it is Christ in me, the Power, and Wisdom of God. This is not an intellectual thing but practical way of taking firm hold of my thoughts and directing it in the path that I want.
As a Man Thinks in His Heart, so is He – James Allen
Environment is nothing more than our looking Glass; reflecting back to us the deepest thoughts we hold in our heart”. Who you are speaks so loudly I can’t hear what you’re saying. – Ralph Waldo Emerson
Life is all about overcoming Challenges using the Laws
It has been 10 years now since I relocated to Canada from Nigeria. In retrospect, I believe I could have achieved the goal I had set for myself, in Nigeria – Africa. These principles work wherever you are! This is why it is important to have a good mentor and make sure you surround yourself with like-minded people. I wrote this goal in the Goal card provided in Bob Proctor’s material.
Meanwhile, Canada has challenged and caused me to grow and stretch. I don’t think I truly pondered what it meant to start all over again in a new country – especially when you are already in your early 40’s. Nevertheless, with all the challenges, trepidation, and weathering the unknown terrain, I was able to achieve my goal! This was not by my own strength or power but by working with this time tested principles; which never fails when applied to any situation or circumstances.
I am not in any way trying to impress you. But to stir and inspire you, including myself, to greater heights. Through this medium, I also get to share my story so that you know me better. We all know that the enemy of living a “Great Life” is having a “Good Life”. Life is always seeking fuller and richer expression through each and every one of us.
It was Alvin Toffler that said:
The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn.
When you look at the mirror today, ask yourselves what can I unlearn, and what do I need to relearn. Then proceed to do it without hesitation to learn new ideas that would move you in the direction of your dreams.
We live in a very unsettled, chaotic, and fast paced world. The world we now live calls for internal strength, which only comes through study and understanding. The scripture says “….with all thy getting get understanding”.
To your Infinite Success!