What does it cost you to make?
How much can you sell it for?
The difference between the two is how much people value what you do.
Of course, there are multiple takes on this, but I made my fortune designing, manufacturing, and selling physical products.
My livelihood relies on the difference between what a product costs me to make and what a customer is willing to pay for it.
So how do you create value?
Naval Ravikant says, “If you build for yourself, you’ll always have product market fit.”
That’s exactly what I did with Freestyle Scooters.
I’d been working in the industry for years and eventually started my own brand because I thought I could make better parts than the ones available.
As a rider myself, I know exactly what a rider wants.
I hated how scooter forks couldn’t fit all the different-sized wheels in the industry.
I hated how small the scooter decks were, and how the underneath of them didn’t slide very well.
Eventually, I created products that fixed all those problems and more.
In return, tens of thousands of scooter riders all over the world have paid me hundreds of dollars each.
Life-changing money.
Every time you start a sentence with “I hate how..” That’s a business.
"I hate how there's no drone flyover videos of the Golf Courses in my state"
This is how I’d turn that into a business.
"I hate buying vintage film cameras not knowing if they’ll work"
This is how I nearly turned that into a business.
"I hate how big my Golf bag is"
This is how I’m turning that into a business.
You get the gist..
What are you obsessed with?
What are you addicted to?
What's the hobby you work 5 days a week just to fund?
What's something that even if you spent 5 years working on it and it didn’t work out, you wouldn’t care because you loved working on it so much anyway?
Now that you’ve got that thing in your head, think..
Is there any way I can add value to that industry or community?
If the answer is yes, that is how you formulate freedom.
You just have to be crazy enough to try.
Brave enough to launch something, make something, post something.
Most are too scared to even try, so the number of people you’ll be in competition with is a lot smaller than you think.
Just. Add. Value.