Who wants to be poor? I have never heard a single person seriously state that they want to be poor. At some level, we all want to achieve a standard of living where we and our families have our needs covered without financial stress. Another portion of us wants more. Achieving financial stability such that wants and needs are easily achieved is a dream most of us have. To achieve financial dreams, especially if you are entrepreneurial, chase solutions not money.
Chasing Money
With regard to your current profession, is your work your passion? Does your job make you happy? Do you continue to work at your current job for financial reasons only? If money was not a concern, would you continue on your current professional path?
Many of us choose careers not because of the difference that we will make, but for the traditional high standard of living and potential wealth associated. Many of us stay in positions for this same reason, even when we hate our jobs. We are not here to judge why anyone is on the professional path that they are on, but if wealth is your objective, it is best to stop chasing money.
Chasing money will keep you in a 9-5, salaried position. Chasing money will keep you working until your late 60s or longer. In some instances, chasing money will generate wealth, but you will be miserable. Think of the lawyers and doctors who are wealthy but absolutely hate their jobs, are alienated from their families and are struggling to cope. Chasing money will keep you from your potential of being both happy and wealthy.
Chasing Solutions Not Money – Profession
By chasing solutions, we mean finding a problem and driving towards a solution. In a professional scope, the underlying purpose of solving a problem is the fire that will burn to get you through the difficult times. The difficult times may be years of schooling, personal issues or unexpected disasters that occur in life. With a purpose, your drive will be maintained irrespective of the financial reward. Whether your drive is servicing a specific community or a specific cause, finding a problem and presenting a solution will greatly increase your rewards, financial and otherwise.
Chasing Solutions Not Money – Entrepreneurial
If you are an entrepreneur and you are aiming to build wealth, it will all fall into place once you identify a problem that is worth solving. There are many issues that we all collectively encounter on a daily basis. Identify these problems and present your solution. Once you identify the problem and a possible solution, ask yourself if the identified problem is worth solving. If it is worth solving, this is a business idea.
Is The problem Worth solving
In determining if a problem is worth solving, from a business standpoint, you need to determine if you can earn from solving the problem. Does the problem rise to such a level of needing to be solved? Will someone pay you to solve this problem? If someone will pay you to solve the problem, how much and is it worth your time? If you have identified a solution to a problem, but someone will only pay you a dollar to solve the problem, this venture may not be worth it. Whether or not the venture is worth your time will depend on scalability.
Is Your Solution Scalable
Is the venture of solving the identified problem scalable? Let’s face it, if I solve a problem that is of low value to others and non-scalable, then I will either loose money or get stuck in a job that will not grow over time. None of these options are good.
Now, if the venture is scalable, you have a business. For example, our example above where we are paid a dollar by each customer to solve a problem. If this business is scalable, if you are able to build your business to reach one million customers, that is one million dollars. If the problem being solved is one that is reoccurring, you have the potential for a million repeat customers. When you chase solutions, not money, your wealth will seamlessly grow.
Conclusion
No one wants to be poor. At some level, we all want to achieve a standard of living where we and our families have our needs covered without financial stress. To achieve financial dreams, chase solutions not money. On the journey to financial independence, stop chasing money, chase solutions to problems and watch your wealth grow.
Follow me on Twitter @JoToFI_com
Follow me on Instagram @JoToFI_com
