Ep 037: Why Problems Are Gold Mines

Nov 19, 2020

We’re going to chat about problems today. I know, I know it doesn’t sound like a very awesome topic to talk about. I know problems are a lot of things that we try to avoid, right? We don’t want to involve problems in our life. We don’t want to make more problems. But bear with me because we’re going to talk about how problems are actually goldmines and how you can take problems and solve them for your ideal client in order to increase your business, increase that know, like, and trust factor, and just explode your business and explode sales!

By the end of this episode, I hope that you guys can change the way you look at problems. I want you to start thinking of the world’s biggest problems as the world’s biggest gold mines. Think of any problem that you’ve had recently, maybe it’s something that you’ve been dealing with for a long time in business or in life, or maybe it’s just a stupid kitchen utensil that just doesn’t work right. You want to improve it just because it’s not very good. That’s a very simple definition of a problem that could be solved for a massive reward. That’s exactly how a lot of products are created. And a lot of services are created. Think about it. You have your ideal client. You want to serve your ideal client and have a problem that they need to be solved. You show up, you solve this problem for them, and they’re willing to pay you to solve that problem.

If you start looking at the problems that happen in life, the problems that happen in the world as less of a bad thing, but just more of an opportunity for you to come in and fix them. You’re going to come in and basically save the day and fix these problems. I’m not saying you should go trying to solve everybody’s problems. We’re not creating a bunch of extra jobs for you. That’s not the point here, but we want to be able to find that one problem that your ideal client has that you can solve better than anybody else. You’ve got it in you. You’ve got a superpower. You have something that you can do. You have some problems that you can solve that would lead to a gold mine in your business. And now the goal here is to find that problem, learn how to solve it better than anybody else.

Then you become known for being the best at solving that problem. I’m not asking you to go solving 50 problems. I’m saying find the best one. And you can do this by doing market research, figuring out what problems you’ve had in the past that you’ve been able to overcome. Think about it. A lot of businesses were actually created because somebody had a problem. They were able to figure out how to get to the other side. And then they just started teaching other people, showing other people how they did it because they realized there’s a need for what they figured out, right? There’s a need for that problem that they solve for themselves. And they turn that into a business. And those are the businesses that honestly, in my opinion, have so much success because they’ve been through it. And because they know how to speak to that person because they were that person.

You probably are that person too. You have a problem that you’ve solved for yourself. That’s huge that you might not think is a big deal. A lot of times, I could look at things that I’ve done in my life and not think that it’s a big deal. You may think,  everybody must have known that. Or everybody must’ve already had that figured out. But at the end of the day, it’s not true. We sometimes downplay what we know or what we do. Maybe for just a lack of not knowing, or maybe just not thinking so highly of what we figured out we’re at the end of the day, a lot of other people are struggling. Think of those problems that not only you could solve for somebody else, but what problems have you been able to solve for yourself that could really help benefit other people.

Now, if you think of some of the largest companies in the world, let’s use Amazon as an example. Amazon took the problem of people not wanting to go to the store anymore. And when people purchase things online, it takes away too long to get to them. People also don’t want to pay for the shipping. They don’t have a good place to go just to search for anything. And they don’t want to go to Google and go to random websites and have to order all their Christmas presents from different, different places. And so Amazon is the giant and the best problem solver in the world maybe went and created Amazon, where they charged free shipping. That was a problem before, right? They put all of the products in one marketplace. So you didn’t have to go to a bunch of different websites to place orders.

They made the shipping extremely fast and they took away all the guesswork. If you have a problem with a product, you send them a message and they’ll most likely accept the return. That was another problem, right? Websites are horrible with returns or you have to pay for the return shipping. Amazon took all of those problems and made them disappear. And that is one of the reasons that Amazon has been such a goldmine. They made it an opportunity for growth and for their business. So start to think of these problems, less as problems and more as goldmines, but think of them from the purpose perspective of how you can help your ideal client solve their biggest problem. Now, stemming further from that, if you can start to tap into their heads, tap into their emotions of not only that biggest problem but start to be able to explain that problem better than they can.

Tell them I know what you’re going through because I’ve been through it too, but I made it to the other side. Explain that problem, explain the emotions behind it, behind the problem, and explain the emotions that you feel once you’ve gotten through it. That’s the cherry on top. And instead of running from these problems, think about becoming the best at solving problems. If your business can start to be the best at solving problems in your specific niche for your ideal client, your business is going to skyrocket. If you combine this problem solving with creating offers for your ideal client that solve these problems and you put these offers into a value ladder, stay tuned because in episode 39 I’ll be talking all about creating your value ladder, which is coming up with these offers. You’re going to be able to solve their problems in a way that brings people into your world and keeps them coming back for more because they want to continue working with you, right?

Why would they go to anybody else when you’re the best at solving? We think of problems as some scary thing to be avoided, but at the end of the day, problems are where every business is formed from and call it a problem or call it a need for improvement. It takes that one person who thought of it and wanted to solve that problem. And now this person has a pretty successful business, right? So in general, I believe entrepreneurs are the world’s best problem solvers. If you guys are anything like me, you can have a love, hate relationship with problem-solving because with a lot of entrepreneurs, what it does is it gives us shiny object syndrome because we start to see all of these problems in our everyday lives. And we think of how we can solve them, which is awesome. Because as entrepreneurs, we are always coming up with new business ideas, but at the end of the day, if we’re not focused on our ideal client and focused on the problem that we can solve for them, with the business that we already have, it’s very easy to get lost and to get off track and to go chasing the next shiny object.

So if you guys have a few problems that you would like to solve, I recommend creating an idea bank. I write down all the problems that I want to solve, and I have them there so that when I’m ready for my next level when I’m ready for my next business venture, I can dive into one that I’ve already thought of. I don’t ever lose momentum or lose the idea, but at the same time, it can be detrimental to your success if you’re chasing all of these different problems. So definitely try to keep them aligned with what you’re doing. I think that’s absolutely crucial. They are goldmines. Keep looking for the problems, keep asking your ideal client, what their problems are, and then come up with the solutions to best, help them best serve them, best solve their problems.

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