The value you have to offer to your employer defines your edge. However, your edge would not be as sharp and effective if many others out there could also provide that same edge as yours. When that happens, you have an oversupply of value which you are offering. And your value goes down. It is similar to how supply and demand chain works. If supply is higher than demand, value will drop. If demand is higher than supply, the value will be increased.
Let’s use some scenarios to paint a clearer picture about the supply and demand theory. For every person wanting to buy a house, there are tons of property agents out there. Imagine you are one of the property agents, your services is not going to be well sort after by the limited number of buyers. They seemed to have the upper hand.
If you an accountant, and every year, there are thousands of post graduate accounting students joining your industry to compete with you, you must have an edge over them in order to secure your job for as long as possible.
There are two ways you might want to look at this on how this might affect you.
1) Defining your edge in the industry you are in
2) Defining your edge in the company you are in
Your value that you have to offer, is it a value where supply is lesser than demand within your industry?
For example, you are an Accountant, and you have 3 years of relevant experience within your industry which makes you a Certified True Accountant. Your experience and accounting knowledge = your value you have to offer. To determine your edge, if the supply of your type of value that you can offer is higher than the demand from your industry, you do not have a sustainable edge.
If within the Accounting industry, there are a limited number of personnel who have the relevant experience and accounting knowledge, which means, supply for such value offering is low. And if there is a high demand for such expertise, you are in a good place.
When selecting the industry you wish to get into, you might want to consider going into those industry where supply of your expertise limited, so that you have an edge over others.
Your value you have to offer, is it a value where supply is lesser than demand within your company?
For example, if you are very good with excel. And this is a skill where only you are good at within your company, you have an edge over others within a smaller environment. You be surprised this can be an edge that keeps you going for a long time.
Regardless of what is your edge, you must have one. If not, go find one, and make it your edge. Once you have your edge defined, career progression is usually within your reach.
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