The Three Ms

Money, Marketing and Management and How to roll the Three Ms into Your Successful Business Plans (without any pain, Guaranteed!)

If you are thinking about starting your own business or you have an existing business, there are three foundational elements that you'll either get to understand, that you do understand, or that you won't understand until perhaps it is too late (and it will put you out of business) or you'll never be able to get into business (A great lesson in Entrepreneurship).  In order for you to begin a successful business, these three elements, the 3 Ms will impact you, guaranteed!

In the coming weeks we will cover Money, Marketing and Management.  The 3 Ms.  We will also discuss how to roll up the 3 Ms into your business plan.   The content for the 3 Ms come from years of consulting with individuals and from knowledge shared by other consultants and my own practical experience in business.

As we get into business plans, we will cover Why write a business plan, What is in the business plan and more importantly How to write a business plan.  When it comes to writing a business plan, the majority of clients I run into have the biggest or greatest problem in how to write a business plan.  I've heard others say "I twist wrenches for a living.  I don't write!"    Still others have said, "How can I write I don't have an English degree?"  So, we will cover How to write a business plan and I've never seen anyone tell you quite like I am going to tell you.

 I have had the privilege of what I would call speed consulting or what seems to be consulting much like listening to Dr. Lara on the radio whereby I meet people from all walks of life at various stages of business opportunity.  My job is to bring awareness of the foundational elements in business that we cannot escape, as hard as we try, and I have tried it myself!  It is difficult to escape these, if not just plain impossible!

 You see every week I teach the 3 Ms in a seminar targeted towards what we call the “Newbies”.  The Newbies are trying, for the first time, to go into business and they come to the Small Business Development Center, in order to complete their first step so they can end up in a one-on-one consulting relationship. 

 By the time you finish reviewing the 3 Ms of Entrepreneurship, one of two things will happen, at least in my prediction.  Most likely, you will have a new direction or a more targeted direction for the energy you now possess in your passion to start in business.  With the knowledge of the 3 Ms in your possession, it is like the difference between pulling a pencil or pushing it.  It is much easier to pull a pencil!  Your energy and your direction is much more predictable and effective, after reading and abiding by the 3 Ms!  Our objective upon reading and completing the 3 Ms is to effect change in our ‘To Do’ List.  We want to be able to realize what our priorities are and better understand what will produce the best results. 

 Or else, you will be one of the few that will say, “I knew all of this!!”  If that is you, then instead of thinking of this as a waste of time, I would like to have you think of this as if you were going to the doctor.  Now when the doctor finishes with you, after the checkup, finding out that you checked out perfectly clean -your Dr. says, “Well, I don't see any issues.  You're healthy; for the most part you're healthy. I can't find any diseases or issues.”  You respond with "Gee doc can't you find a disease or something.  I can't believe I'm going to have to end up paying you $150 and all I get out of this is a clean bill of health?!!!  There's got to be something you can find?!!" 

 Obviously that's ridiculous.  Who in their right mind would feel like they got a better buy or purchase because they paid the doctor to find out that they had a disease? If you heard you were healthy that would only make you happy.  Well the same thing is true when it comes to business.  Read through these foundational elements, warm them to your memory and make sure you're aware of these.  If you are one of the rare ones that knows all of this, then congratulations!  If all this book does is reiterate what you already knew and it puts wind in your sails, then Go For It!

Success to you, Alan Badgley