I don't believe value is created, I believe it always exists in a latent state waiting to be unlocked. Your ability to unlock value is your most valuable skill. If you unlock latent value (for yourself or for others), you will receive value. This is true in all aspects of life.
The first step in unlocking latent value is discovering where a repository of latent value lives. You do this by talking to people to learn about their desires. There is a reason Amazon's vision is to be earth's most customer-centric company; you uncover opportunities to unlock latent value by obsessing over understanding people.
Once you have identified a promising latent value repository, you should quickly take action and attempt to unlock some of that value using the minimum amount of effort. It's important to minimize your effort; your understanding of where the latent value lies may be imperfect, and if you are serious about unlocking as much value as possible in your lifetime, you don't want to waste your time going in the wrong direction.
To find out if you are going in the right direction, you should get the fruits of your action in front of the people who stand to find it valuable and you need to objectively observe if they are indeed receiving value. If not, then you should try to understand why not.
It's likely you will need to take action a few times before you unlock the latent value. With each action you will gain a deeper understanding of where the latent value lives (or if it even exists) so don't be discouraged; you must be open to feedback and willing to iterate (or turn your focus elsewhere) based on what you learn.