We’re taught that we should stick to the system by working incredibly hard for our entire lives just to (hopefully) reach a mediocre retirement one day.
We’re sold on this idea with phrases like, “It’s safer” and “that’s how it’s always been worked”.
But as a member of The Midas Legacy, I know that’s not the life YOU want to live.
So, here’s a proven 3-step secret to escaping the Rate Race, becoming free, and building real wealth from nothing…
As the vast majority of successful entrepreneurs will tell you, the key to breaking through the money barriers keeping you from the life you want to live is solving a problem.
And to do so, you’re going to follow this 3-step secret:
1. Identify a problem
2. Define the problem
3. Solve the problem
Those few steps above make up a proven way to solve a problem and make money from it in the process…
But let’s take it a step further before jumping into each step.
Consider this: How much time should I spend on each step?
I’ll turn to one of the greatest minds to ever walk this planet to handle this one for us…
Albert Einstein was once asked how he’d use one hour to solve a problem. He answered by saying that he’d use 55 minutes defining the problem and then 5 minutes solving it.
With that in mind, let’s dive into the first step…
Identify a problem
The logical starting point of this 3-step secret is discovering a problem that needs solving.
So where do I begin?
The best (and sometimes most challenging) aspect of this step is that there are NO boundaries when it comes to finding a problem.
So, I recommend starting with yourself.
In your daily life, what problems do you come across? Think about everything from the moment you wake up to the moment you go to sleep. Is there a part of your morning routine that could be solved or enhanced?
How your car functions?
Perhaps you discover an inherent problem with clothes that could be solved…
The possibilities are endless, and your only limit is what you’re willing to think about.
But, of course, there are different types of problems that you should be looking for:
- Problems that arise naturally with a changing society (caused by technology, etc.)
- Long-standing problems without a solution
- Problems that currently have a flawed solution
Obviously there needs to a solution that will either improve or create a solution, meaning a solution that will improve life for everyone who faces that problem.
Define the problem
This is the part that Einstein said he’d spend 55 minutes of an hour on – digging into the root of the problem, why the problem is a problem in the first place, how this problem makes a certain task or situation harder than it needs to be, etc.
What are the causes of this problem?
Why haven’t any other attempts at solving this problem worked out?
For some time, grabbing a cup of coffee on the run was just about impossible. You’d either have to wait a few minutes while it cooled, or you’d risk spilling it all over yourself as you grabbed the hot cup from a drive-thru window…
The root of the problem, obviously, is that our bare hands aren’t equipped to grab a regular, old cup of coffee when that coffee is at the best temperature for the coffee.
Thus, the little cardboard coffee sleeve was born! And A LOT of money was made by solving the problem…
Think about how simple that solution was, and how virtually ANYONE could’ve come up with it!
Again, look for problems in any and every aspect of life, and then spend almost all your time thinking about the how to define the problem…
Solve the problem
This is obvious, right?
You have to come up with a solution to the problem you’ve identified, and make sure you know how to profit from it!
Is it a simple product idea, like the coffee sleeve, that you can license?
Is it information that you could turn into a book or manual and sell yourself?
Is it a combination of two separate things that you could patent and sell to a major company? (Think about backup cameras that now come standard in just about every new vehicle. It solves the problem of not being able to see behind you while backing up a vehicle! Add cameras and a screen to any vehicle and you’re good to go!)
And by following that 3-step process, ANYONE has the potential to escape the Rate Race, become truly free, and make a lot of money in the process…