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Want to Be a Billionaire? Solve “I want X but Y”

I’m obsessed with the future. Recognition and projection of future opportunities consume a vast amount of my waking time. The process I take is a meticulous: rigorously understanding current technologies and the implications those developments will afford to the birth of new industries.

History does not repeat itself, but it rhymes.

That’s how I analyze what I’m looking at: I understand by distilling a complicated idea into a metaphor for the past.

Their simplicity is what is so challenging. The general consensus is that great ideas are incredibly hard. The opposite could not be truer.

The most valuable things are often the simplest; they address the confounding frustrations of everyday life. Repeating the above exercise marries the idea to the problems they solve.

Good businesses provide a service that customers appreciate. Great services solve problems.

Developing the next great business is about distilling a problem down to their simplest form. Every day we have the opportunity to address the problems we face but most people don’t even recognize them.

Never accept the way things have always been done as the only way they can be done.

Appreciation of a problem requires understanding of it.

Next comes a few simple questions which enable you to understand the potential ubiquitousness of your market

a) What would your company do?

Spotting the problem is the challenge

They stare us in the face every day. Everyone can look but not everyone can see. The next billion dollar business isn’t going to come from an unimaginable product. It will come from a simple solution to an age-old problem whose value wasn’t recognized. It’s about looking and seeing the same things with new eyes. It’s about imagining new solutions to pre-existing issues.

Ultimately, you want to solve a problem so easily that everyone says to you “but anyone could do that”.

Precisely.

Solve “I want X but Y” and you will be well on your way.

Written by

CEO / Founder / Coach @FirstbaseHQ Empowering people to work in their lives not live at work ✌️✌

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