What To Think About When Adding Value to Generate Wealth

Wealth generation is not just about getting rich. Wealth means an abundance of a valuable thing. This could be financial, and yet it could equally be emotional, social, or educational. Tying these things together to filter into a financial reward is the only way of keeping it sustainable, and sustainable wealth is the only kind that really matters long-term. By working together, creating, funding, paying for, promoting, and supporting, we can elevate sustainable wealth in all parts of our community, across the world. The cycle of profit and innovation will turn as always and if we can get on board, we can play a part in what it will look like in days, months, and years to come. Getting involved is how to boost the wealth of the community in your own way, and finding ways to make it work for you is how you boost wealth for your own family. The balance is struck in the models you apply to your efforts and communication.  
 
Sustainability means that for as long as there is demand, you can supply. Not only that, but it also means that the rewards you receive account for the cost of delivering the service and a wage for everyone involved, including yourself. This can be reached when the customer begins to rely on your product or service and are prepared to do what it takes to have it on supply. Finding something to offer that is important enough, either practically or emotionally, and offering it in such a way that benefits everyone, is how to best position your skills and talents. When this has happened, and it happens all the time with brands and businesses across the table, sustainable wealth is created.  
 
Of course, breaking into the world of innovation and business is not as simple as having a few good ideas. It is a long process and one that requires us to take many risks. We must be confident in our abilities and skills but not arrogant or narcissistic. We need to know we are good enough but appreciate that plenty of other people are also good enough. Once this emotional hurdle is behind you, you can set about beginning an honest and well-made business. To get on the radar, you need to tick some mental boxes. People only pay attention to something they are interested in. People only buy things they want or need. If no one is interested in your service or the work that you do, then you’ll not find anyone to sell it to.  
 
What matters a lot in the marketplace are things that change the marketplace. Things that have not been done or offered before are what interest people the most. Things that have a clear benefit to the customer and society that you can justify your profit margin with are defensible business models. A solution to a problem that a customer has that is more efficient and more suitable is disruptive and new. These things are what people look for when choosing to spend money or even stop blocking ads for a particular site like this one. (Google wants to pay me for offering a service to them and in return readers like you get free and easy to read education like this). 
 
A lot of businesses tick these boxes and only get so far, they don’t make it past the small turnover or semi-professional status. Reaching out to the wider world involves appreciating that the wider world is a complex and unfamiliar place. As an authority in the terms of your creative business, people will have their own emotional baggage that makes it hard for them to connect with you. Everything that people “know” about business leaders and salespeople stands in your way like a black knight who just won’t listen. To expand your work and reach further than your own arm span, it’s necessary to plug into other businesses and services. When you plug in to a business or service as a business or service, you must be able to reverse the connection at the same time, resulting in a mutual benefit for a mutual sharing of work. It is in the power of networks that we can grow even further. This means the insecurities that lead to feelings of competitiveness need to be addressed before you can move on. 
 
For the plug to connect in both directions, and for your use of business to equal use for your business, your product and service needs to become a platform for other innovators to use to their benefit. This leads to a natural expansion that brings more potential customers and further reach. Creating a natural cycle of work that results in wealth creation and service improvements for all is how to build a business model that is truly sustainable and defensible. Finding the right needs and the correct level of priority is how to become profitable and necessary for other businesses to utilise. The process of building dependencies involves becoming reliable and trusted as well as efficient and necessary. 
 
Identifying a need for a solution requires an understanding of certain processes and workflow systems that others go through. Having the opportunity to identify pain points in a particular aspect of life and work requires an experience or an instruction on something that you’re interested in. By playing a part in your area of life you will have the option to look for certain pressure points and pain points that you can find solutions to and get rewarded for applying. A business model that finds a repeating problem and offers an efficient and reliable solution for a price that outweighs the alternative in attractiveness will find many footholds in its chosen industry and beyond.  
 
Needs come in a variety of shapes and sizes. The priority level of a need depends on how the lack of its fulfilment affects the future and the present moment. If a person needs something right now, it is a high priority, rather than if they need something at some point, when it is a relatively low priority. Positioning yourself in the right now bracket is how to make your service or product immediately attractive. We assign needs according to how urgent they are, critical needs are the ones that make a significant difference to us if they are not met. Nice needs are needs that we’d like to be fulfilled but are prepared to put off for another day. A lot of things are nice to some but critical to others. Hunger, for example, defines how critical a food purchase would be. We all have moods and external circumstances that change what we consider a priority at any given time. Positioning yourself in a way that finds people when you are their priority is about understanding who you are selling to and why.   
 
Needs can be urgent, latent, or aspirational. As mentioned, urgency is often relative however some products are always considered urgent. Municipal services and healthcare services are needed all the time, a lot of people have complete dependencies on other services that they’d be vulnerable and isolated without. A latent need is one that could be considered urgent but only if it suits you. The new perfume that you must have, for example, may seem urgent to you and it might well be, however it’s more about desire than anything else. If given the choice between the perfume and life-saving care, you’d choose the care.  Aspirational needs identify a person’s desire for the future and help them feel more able to fulfil it. These can be financial, educational, or some other personal investment. All these needs are opportunities to create wealth by adding genuine value. By taking responsibility for solving the problem identified, you are in your right to take payment for that service.  
 
Having a foothold in the market is a great first step however the market doesn’t stay the same for long. New technologies emerge, and they present new opportunities for business. With new applications of new technology there comes new problems and efficiencies that can be utilised. To save time and resources by providing efficiency the customer finds the resources to offer an effective return. This balance is met when the product or service outweighs the need to hold onto the return. Finding the needs that markets have and determining what your solutions are worth to them can be difficult, however when you talk to potential clients these things can be pinned down over time.  
 
To be able to command a price that looks attractive to yourself and those who are invested in your progress, your product or service must meet a need with a degree of urgency that presents as an opportunity rather than a chore. In this way you’re providing a genuinely valuable resource to those who want to become customers. Because we all have unique skills and abilities, our needs vary across departments and social circles. One department is usually specialised into one or two aspects and so other aspects need an outsourced flow to satisfy the need. By connecting yourself as a departmental expert in a situation that has a strong demand you can become an essential tool for business. Honing this into a service that can be defined and sold is all about delivery and positioning.  
 
When you deliver your creative idea in a setting there are a lot of things you must be aware of. To get any interest in your hard work you need to connect with people who don’t know you and have no real social contract with you. Your offering is supposed speak to them on a level that cuts through the automatic busybody routine most of us are in these days. Positioning requires an understanding who your ideal customer is. By focusing on the ideal customer, we can reach the most potential with what we have to offer. Like the bullseye of a target, the whole circle of potential radiates from this central spot.  So, you need to decide who this ideal customer is.  
 
Is your creative idea meant for other businesses, like internet services, so they can do their job better? Is your solution meant for the public, like jam, so anyone can make use of your offering? Or is your solution meant for society, like a free further education initiative, so the benefits reach beyond that of the user? If you can identify one or two main customers and define them as people, in a non-intrusive yet definitive way, you can design your delivery to meet their needs. If the problems can be defined and the solutions can be offered in a way that identifies with the one who experiences them, the service will seem attractive. Then, by operating in a way that provides a solution, efficiency, and reliability, your service will be able to provide value and create wealth for the whole community, including you.  
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​Essential reading: Entrusted: Stewardship For Responsible Wealth Creation
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