Home Financial Literacy Phyllis Shallman – Where Money Comes From

Phyllis Shallman – Where Money Comes From

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Money comes from solving problems.

Think about any business. It could be a lemonade stand. It could be Amazon.

Each of those businesses solves a problem.

The lemonade stand solves the problem of feeling dehydrated on a hot summer day. How? With a refreshing mix of sugar, citrus, and cold water. One sip, and you’re a new person. It’s a feeling people will pay 50 cents, or even a dollar, to achieve.

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Amazon solved a problem people didn’t even realize existed—the inconvenience of shopping in brick-and-mortar stores. It turns out that driving from location to location was a time-consuming hassle, and there was no guarantee the store would have what you needed. Amazon eliminated those problems entirely with an all-encompassing online marketplace. And they’ve been richly rewarded—just look at Jeff Bezos’s net worth!

Your current job is likely solving a problem for your boss. You have skills that your boss needs for their business to run, but that they don’t have the time to develop or apply themselves. And in return for solving that problem for 40 hours per week, they give you a salary.

The takeaway? Don’t just develop skills—identify problems. Once you see obstacles, you can leverage your skills to overcome them. That’s where money comes from.

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