What’s Your ‘Human Capital?’
Do you have human capital?
Wikipedia defines human capital as
“The stock of competencies, knowledge, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value.”
How Do You Acquire Human Capital?
Most people start with education. You’ll have a pretty tough time getting work if you can’t read, write, add, subtract, multiply and divide.
Just being able to do those six things give you a good start on creating your economic value and human capital.
Experience Comes Next
After entering the workforce you begin to learn all the things they didn’t teach in school.
There’s a vast variation between classroom theory and workplace reality.
Having real life experience increases your human capital and your economic value.
Train Yourself To Increase Your Human Capital
Studies show it takes 21 days of repetition to create a habit. Forming the right kind of habits can go a long way in building your human capital.
Thinking positively will take you much further in life than negative thinking. Each day list three things you’re thankful for.
This exercise puts you into a positive mode.
Set goals for yourself and do your best to accomplish them.
Why Are You Here?
Mark Twain said, “The two most important days of your life are the day you were born and the day you discover why.”
What’s your why?
I always felt I was supposed to accomplish something in this world and it wasn’t selling stuff on a sales floor or out on the road somewhere.
My why, as it turned out, was helping small businesses by drawing on the human capital I accumulated by working for 25 different companies in 18 different industries and converting it into economic value.
That human capital I had amassed had economic value to people all over the world.
Some Final Thoughts
Suppose you lost everything. Job, Home, Income. What would you do?
I would suggest that you would have it all back within five years or less.
Why? — Because you can cash in your human capital.
You have value and there are those who are more than willing to pay for that human capital and economic value.
It’s the quintessential definition of job security.