The “Michael Process” (Segment III)
Preface: When strategizing with the “Michael Process” the greater the number of marketplace participants who will benefit from the (re)solution your business provides, the greater the latitude of your entrepreneurial endeavors potential platinum success.
The Concisely Defined Problem(s) the Marketplace Needs (Re)Solved
What is the value of a problem solved? Truly, the greater a problem, the greater the value of a (re)solution. Yet more importantly, you need an awareness that there is [a] problem requiring a (re)solution, before the problem can be (re)solved.
That is the “Michel Process” purpose, to encourage (increased) business value creation through a simple process of concisely analyzing and understanding an industry problem, and then effectively (re)solving the problem with a business motive.
“Two business examples: Grocery stores help solve the universal problem of hunger, generally; and residential construction companies help solve the continuing problem of living with changing weather conditions, etc”.
That is how entrepreneurs succeed — when marketplace problems that are clearly defined, analyzed, and understood as applicable business value drivers, are (re)solved, in an industry (marketplace) thee entrepreneur is passionate to serve, with a business purpose. Two business examples: Grocery stores help solve the universal problem of hunger, generally; and residential construction companies help solve the continuing problem of living with changing weather conditions, etc.
One of the most significant and historical globally documented problems solved, according to Biblical records, involved Noah and his family’s construction of the Ark. Supposedly tsunami rains had never occurred prior to the Flood. The “Michael Process” applied to the Ark exemplified as a business, (was Noah an entrepreneur), involved a solution to a future problem, e.g. build an Ark, the problem was clearly defined, e.g. a flood, for a marketplace. Like the MasterCard ads say, the Ark was “Priceless” …..and for everything else, there is a MasterCard.
So, what business problem was being resolved with a construction project encompassing such a large ship in middle of a wheat field say? If nothing else, your [business] opportunities today are now possible. For purposes of Noah’s investment of time and resources into the project, it was likely most eccentric, certainly. If Noah hadn’t acted proactively on his belief of a potential developing problem, with the [eccentric] creation of a solution, the globes history may well have ended Millenniums ago?
“Noah prepared a business like solution to a problem, that had not yet occurred, and at the time in history, a problem that held zero historic precedent”.
Now, that example may be a little far from some entrepreneurial endeavors.
- First point is, Noah prepared a business like solution to a problem, that had not yet occurred, and at the time in history, a problem that held zero historic precedent, i.e. how many shekels do you think that project required, and employees?
- Secondly, from an entrepreneurial standpoint, what was the marketplace value of the Ark the moment the flood began? What is one day, or one hour, and Noah was the most successful [social entrepreneurial] problem solver of that year? Ok.
- Third point being, let us be very careful about some entrepreneurial endeavors, because we may not be aware, or understand the logic of what the true purposes are that motivate the entrepreneur.
Like Albert Einstein is quoted saying “If I were given one hour to save the planet, I would spend 59 minutes defining the problem, and one minute resolving it.”
In order for a (re)solution to have a [entrepreneurial] value, there must be a need for the (re)solution. The greater the number of marketplace participants who will benefit from the (re)solution your business provides, the greater the latitude of your entrepreneurial endeavors potential platinum success, (e.g. what is the marketplace latitude for birthday cakes?)
“Every business increases probabilities of vibrant and sustainable success when they are adhering to the “Michael Process.”
Example: Mikayla’s lemonade stand, while a substantial community success, may have certain scalable limits. A). It is not a four seasons business, and B). It likely serves only a certain geographical marketplace constituency. That’s not to say, it cannot be very successfully in its locality. Since Makayla isn’t endeavoring to net $200,000 for her college fund, those certain limits are likely not a problem.
Every business increases probabilities of vibrant and sustainable success when they are adhering to the “Michael Process.” That is purposefully and effectively (re)solving a [need] problem that holds an intrinsic value to a marketplace, that is well understood, with a platinum passion for the industry.
Your businesses connection(s) (i.e. education, partners, consultants, advisors) to harness the necessary platinum resources to concisely define, analyze and understand a problem(s), and then (re)solve the problem(s) effectively for thee marketplace, are the horsepower that creates, develops, and perpetuates an encouraging entrepreneurial endeavors vibrancy and success. Plainly, that is the heartbeat of the simple, effective, and powerful “Michael Process.”