Question #
What factors determine a person's economic value in the marketplace?
Answer #
After over forty years in real estate and the self-storage business, I have learned a few things about business that I am sharing as I hover around this 500-episode mark.
I guess we could call these episodes “What I’ve Learned About Wealth, Business, and Life.” This also coincides with my newly released book, The Creative Method of Wealth Generation.
Let me share with you five things I have learned about business over the years.
When I started, I knew very little about money, wealth, and running businesses.
I have learned what I know through research and grinding away.
Much of what I will share will be excerpts from the book, and I will identify them.
This is straight out of Chapter 13 of The Creative Method of Wealth Generation:
A person’s economic value in the marketplace today is determined by one thing–the value of the problems they can solve for other people.
This may sound a bit bold, but look around.
I think you will see it is true.
All people are equal in worth and dignity as human beings.
But in the marketplace, value is measured differently.
It’s not about intrinsic worth; it’s about what the market will pay for problems you can solve and who you are solving them for.
Take, for example, a fast-food worker and a hedge fund manager.
But the marketplace rewards them very differently.
The restaurant worker solves the problem of providing inexpensive food to hungry people.
It doesn’t require advanced skill, but it’s valuable and necessary work.
Source: Five Lessons About Business I’ve Learned After 40 Years
