If You Want to Create Wealth, Find a Hungry Crowd
Creating wealth is simple when you boil it down to these: identify a problem, offer a solution, and sell that solution to people who need it. Yet, many aspiring entrepreneurs get stuck selling products or services nobody needs or wants. The truth is, if there’s no demand, there’s no value—and if there’s no value, you can’t generate wealth. So, let’s break this down step by step in a way that’s easy to follow.
Identify a Problem: Every business starts by spotting a pain point. This is the gap between what people have and what they want. Maybe they’re struggling with time management, or they can’t find good local services for their needs.
Your job? Zero in on that frustration.
How? Listen to the market. Pay attention to complaints, unmet needs, and frustrations.
Come Up with a Very Effective Solution: Now that you know what the problem is, the next step is to brainstorm a practical solution. The more effective and unique your solution, the better.
Key Insight: The solution must actually solve the problem—just being creative isn’t enough.
Ask yourself: How can I make life easier, faster, or better for my potential customers?
Sell the Solution to the People Who Need It: This is where you start matching your solution to the people who need it most. Your solution isn’t for everyone—and that’s okay!
Find your tribe. Ask, “Who will benefit the most from this?”
Target them relentlessly. If they already experience the problem, they’re your best bet for early adoption.
Create a Superior Offer: Having a solution is great, but if you want to stand out, you need a superior offer. This could mean bundling services, offering discounts, or adding extra value.
Why? Because competition exists. If your offer isn’t compelling, someone else will win over your potential customers.
Ask yourself: What can I do that others aren’t doing? How can I add more value?
If No One Needs It, It’s Not a Problem: This is a harsh truth, but it’s very important: if people don’t need what you’re selling, it’s not a problem—and no matter how great your solution is, it won’t sell. Demand drives wealth.
Test your idea. Before you dive in headfirst, validate your concept.
Ask yourself: Are people actively looking for this solution? Do they care enough to pay for it?
Can They Afford What You’re Selling?: Even if people love your product or service, they must be able to afford it. You need a sweet spot where value and pricing align. If your solution is too expensive, it won't sell, no matter how good it is.
Tip: Know your audience’s spending power and price accordingly.
Consider: What happens if I adjust my pricing? Can I offer financing or discounts?
The Wealth-Building Formula:
Find a hungry crowd—those with a problem they care about.
Offer them an effective solution.
Create a superior offer to make it irresistible.
Make sure they can afford it.
This formula works every time because it’s rooted in value creation. Wealth follows value, and value comes from solving real problems that people need solutions for.
Challenge:
What’s a problem you’ve noticed in your community, workplace, or industry that no one has effectively solved? Write it down. Now, brainstorm five solutions to that problem, no matter how wild they seem. From those five, pick the most practical one and research if people would pay for it. That’s your starting point—your first step toward wealth creation.
At the end of the day, creating wealth is about finding a need, creating value, and offering it in a way that people can’t refuse. So, go find your hungry crowd—and serve them well.
