I generally agree with what you wrote, but one part of the picture is missing: you must solve the problem in a way that allows you to capture the added value. That excludes some solutions and maybe even some problems.
Noticing and solving problems is necessary, but not sufficient. You must also evaluate the solutions from the perspective of “how can this make me rich”. Perhaps some people do it automatically rather than consciously; they may have a blind spot towards the class of solutions that do not include selling a product or a service to customers.
More examples:
baking a better cake / sharing the recipe online
selling an application / publishing a free application
teaching people at seminars / writing a blog
providing paid consultations / writing a blog
selling books / writing a blog
Both options can solve someone’s problem, but the former is better for making money, while the latter has a potential to reach more people. (On the other hand, it doesn’t have to be an “either/or”, you can do both.)
I generally agree with what you wrote, but one part of the picture is missing: you must solve the problem in a way that allows you to capture the added value. That excludes some solutions and maybe even some problems.
For example:
can make you a billionaire: Brilliant
cannot make you a billionaire: Khan Academy
Noticing and solving problems is necessary, but not sufficient. You must also evaluate the solutions from the perspective of “how can this make me rich”. Perhaps some people do it automatically rather than consciously; they may have a blind spot towards the class of solutions that do not include selling a product or a service to customers.
More examples:
baking a better cake / sharing the recipe online
selling an application / publishing a free application
teaching people at seminars / writing a blog
providing paid consultations / writing a blog
selling books / writing a blog
Both options can solve someone’s problem, but the former is better for making money, while the latter has a potential to reach more people. (On the other hand, it doesn’t have to be an “either/or”, you can do both.)