BUSINESS MONDAY: SERIOUS BUSINESS: The 5M Shepherding Model
“We have different gifts, according to the grace given to each of us...”– Romans 12:6
Thanks to all those readers who took the time to forward many gratifying, encouraging and inspiring comments on my last column entitled “New Year Benefits”.
Eight challenges were presented and in the next several weeks, probably interspersed with other topics as the mood dictates, this column will be focused on fleshing out these challenges in more detail.
Topic #1 – Business Success. As part of the economic recovery process, there are many roles to be played to foster the development of a national enterprise development thrust. There is no shortage of business ideas flowing from the youth, in particular. Funds are abundant in the private sector and they need to be mobilized and the risk managed in search of a greater return on investment. There is the flair of the creative waiting to be harmonized as we attempt to influence potential buyers of the products emerging from those ideas. There are operational and support service personnel who are waiting to be led in an environment of greater productivity and efficiency. There are persons yearning for training to enhance their skills so that they can contribute to the sustainability of the business ecosystem. We need to get all this talent working together, in smart partnership. This is what my 5M Shepherding Model – Method, Management, Mind-Set Change, Motivation, Money – is designed to do.
The business Method is the amalgam of profit centres for products and services which satisfy the wants of the consumer – the value proposition. When a business method is proposed it has to undergo due diligence, by the Shepherd, to determine if it is a potentially viable business venture.
Business Management is a cycle of functions. Planning sets objectives for a dialogue culture, financial security, consumer satisfaction, operational efficiency and unlocking human potential. Organizing mobilizes several instruments which systematically facilitates leaders in the execution process on the journey to business growth and sustainability. The business activity is monitored periodically and corrective action is taken when there is a departure from the expected target. Then the cycle is repeated. This process is expedited by my ManOBiz Matrix, a Shepherding tool.
Business mind-set is one of the greatest factors inhibiting sustainable success. The entrepreneur must undergo due diligence through a Shepherding process to assess mindset status and determine the Mind-Set Change to inspire positive affirmations of abundance.
The Shepherd’s main contribution is to Motivate the entrepreneur to effectively and efficiently grow business by enhancing business management systems.
Last, but not least, is the source of Money for investment finance. The Shepherd will advise the entrepreneur to show some commitment by first identifying sources of funds from personal savings or from family and friends then, seek equity and working capital investment. Loans have their place as the business matures with strong cash flows and the availability of hard collateral. Ultimately business profits are the best form of investment, so the sooner the entrepreneur can establish profitability growth the better.
Let us assemble all the different dormant and underutilized gifts, guided by the 5M Shepherding Model, to make an immediate impact on the enterprise development space and expedite economic recovery and growth.