You’ve heard the phrase “Mo’ Money, Mo’ Problems?” Let’s reverse that, shall we?

  • Chris

    As a percussionist and human being, I’m finding a trend in disrespecting the almighty shaker and tambourine and very offended. I KID! Love the video, thanks!:)

  • Quan Chi

    Well said, Joe. Thanks for those words of wisdom. I agree with this. Problems benefit you if you confront them and fix them. It makes you better and more confident in your ability. Nothing is wrong with facing challenges.

  • Rocky

    Fixing the right problems Is the way great companies work. If you fix problems for millions of consumers you have great leverage, if you fix a problem for one or a dozen consumers, you have No leverage. Take Apple….They figured out how to solve taking 1000 songs with you…iPod.
    Or Microsoft….how to take the ugly DOS make it pretty & easy….Windows. Same in music…..come up with one song or tune the world falls in love with & you have great leverage….
    Lot’s of people, including me didn’t get it for a long time.
    Take a custom woodworker. He makes furniture for people one piece @ a time. He has no leverage. But then he puts together a company…….and calls it Ikea…..now he’s got huge leverage. His 8 or 10 hour work day is now multiplied thousands of times…..gets light years more product out the door…..& mo money ain’t the issue any more.
    Like music, one person can multiply themselves thousands of times with one song or tune a whole lot of people fall in love with……..It is sold to many people, and sheet music goes in books or singles…….
    Why did I bother to write this…..because my woodworker buddy with great talent, is one person making furniture, one piece @ a time and complaining that he works so hard and makes relatively little…he has no leverage. He wants more return for all his time invested, but doesn’t seem to get it that he needs to multiply his efforts with, time saving computer machinery, employees, bigger place…..”obviously a company”. But that is way out of his comfort zone, because of all the obstacles……so he continues doing great stuff one at a time with no way to multiply his efforts. Yes there is way more to it than that…..but the point is Joe’s article is right on……solve the big problems & get the big rewards “if successful”..

    • Man, GREAT comment, Rocky.

      Another side to that coin isn’t simply to duplicate yourself, in terms of your woodworker friend, but to figure out how to create MORE value in the same amount of time. What if instead of making $500 bookshelves he made $5,000 pieces out of reclaimed barn wood or something? Suddenly he’s 10x’d his income with the same amount of time, because there are people who will prefer the $5,000 custom piece over the standard $500 one. Of course, his big β€œproblem” would be finding those buyers, but he only needs one $5,000 buyer to make the same amount of money he made from TEN $500 buyers.

  • MisterWade

    Great post, Joe! Thanks to Carl for the video. Classic Albums… what a great series!

  • Carl

    Problem = Challenge = Fun!
    Uh – gotta go and record some Acoustic Guitar…that sure gives me problems – for some reason I still miss out on the fun there πŸ˜‰

    haha!

    Keep the good stuff comming!

    best Carl

    • I’m not entirely sure the β€œ= Fun!” is true. πŸ™‚

  • Carl

    Joe – please! Nirvana – Something in the way – BTW here s the link. Enjoy!

    πŸ™‚

    • πŸ™‚ My apologies for the brain fart. πŸ˜‰