We found the money cheat code

2 years ago I was stuck at my first post-graduate job making $40k per year (before tax 😬).

I felt lost and hopeless of how I could possibly create the life I wanted.

Let alone earn more money to support that life.

And I'm not talking about lambos and mansions.

I wanted the ability to retire my parents (and my sister), live where ever we wanted, and do whatever we wanted.

The main goal was flexibility.

2 years later I am still working on that goal, but I was able to significantly increase my income.

I was only able to do this because I identified and solved for the right problem: lack of skills.

It's Not a Money Problem

Most of us say we want to earn more money-- let's say an extra 5k per month.

It's natural.

We are earning less money than we want.

So ideally we want more money in our pocket.

But solving for 'money' isn't going to get you there. (yet)

If you aren't earning as much as you want, you have a value problem.

This was the unlock that changed my earning potential overnight.

Money is the exchange for value.

If you have something that someone else considers valuable, they are willing to pay you money.

The fastest way to earning more money is increasing your value to the marketplace.

This goes for students, employees, athletes, entrepreneurs, and creators.

You want a bigger scholarship? You need to increase your perceived value to universities.

You want a higher salary? You need to increase your value to companies.

You want a higher contract? You need to increase your value to sports franchises.

You want a $1 billion company? You need to provide $1 billion worth of value.

You want 100k followers? You need to be worth 100k people's time.

The fundamental unit that increases our earning potential is the value we are able to provide, and what the market believes that it is worth.

Which leads us to the next issue: not all value is worth the same.

Solve the Most Valuable Problems

Not all problems are created equal. Some are worth billions, and others worth a few dollars.

Working hard on the a small problem is not the same as working hard on a big problem.

Shaan Puri has a famous clip talking about how janitors work extremely hard but get paid a fraction of what a CEO who works less gets paid.

The only difference between the CEO and the janitor: the problem they are solving.

One problem is the cleanliness of a building. The other problem is the profit, revenue, and value of a corporation.

The former is worth a fraction of the latter.

Working hard is important, but only if its on the right problem.

Shaan recommends people spend more time picking the right problem before they start working 17 hour days.

2 years ago my problem was a skill issue.

I didn't have any high income skills, which is why I wasn't paid a lot.

Naturally the problem I needed to solve was my skill gap.

So I learned SEO and product management to 3x my income.

At the time, this was the highest value problem I could solve.

I am still working on this today.

I am actively learning how to market, sell and grow products.

I imagine in a few years I will transition to a new problem, that isn't my own skills.

Double Down on Value, Ignore the Rest

I encountered countless people who told me switching jobs was going to ruin my career.

Others felt compelled to tell me "You clearly don't know what you want to do with all that jumping around"

I had to ignore them because I knew what I was doing: looking for the value I wanted to solve.

I have learned that if you solely focus on increasing value (personal value or product value), the money and happiness falls into place.

Next week we are going to dive into how to acquire valuable skills, so stay tuned.

To recap:

1. It's not a money problem, we are lacking some sort of value

2. Solve the biggest problem possible. (what is worth the most to the market that I can solve now)

3. Double down on your value, ignore what they say.

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