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    12 M's To Successful Entrepreneurship

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    Queen Valle
    The document outlines 12 M's that are important for successful entrepreneurship. It divides them into 4 gates: 1) Preparation focusing on money, model, and mentors; 2) Marketing emphasizing mindset, market, and message; 3) Execution covering machinery, methods, and management skills; 4) Self-leadership involving moving forward, mission, and mastery. Examples are provided for each M, such as Jack Ma who failed many job interviews but persisted to eventually found Alibaba. The document stresses developing the right mindset and skills to overcome obstacles through grit and purpose.

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    12 M's To Successful Entrepreneurship

    Uploaded by

    Queen Valle
    6K views3 pages
    The document outlines 12 M's that are important for successful entrepreneurship. It divides them into 4 gates: 1) Preparation focusing on money, model, and mentors; 2) Marketing emphasizing mindset, market, and message; 3) Execution covering machinery, methods, and management skills; 4) Self-leadership involving moving forward, mission, and mastery. Examples are provided for each M, such as Jack Ma who failed many job interviews but persisted to eventually found Alibaba. The document stresses developing the right mindset and skills to overcome obstacles through grit and purpose.

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    12 M’s to Successful Entrepreneurship

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    The document outlines 12 M's that are important for successful entrepreneurship. It divides them into 4 gates: 1) Preparation focusing on money, model, and mentors; 2) Marketing emphasizing mindset, market, and message; 3) Execution covering machinery, methods, and management skills; 4) Self-leadership involving moving forward, mission, and mastery. Examples are provided for each M, such as Jack Ma who failed many job interviews but persisted to eventually found Alibaba. The document stresses developing the right mindset and skills to overcome obstacles through grit and purpose.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    6K views3 pages

    12 M's To Successful Entrepreneurship

    Uploaded by

    Queen Valle
    The document outlines 12 M's that are important for successful entrepreneurship. It divides them into 4 gates: 1) Preparation focusing on money, model, and mentors; 2) Marketing emphasizing mindset, market, and message; 3) Execution covering machinery, methods, and management skills; 4) Self-leadership involving moving forward, mission, and mastery. Examples are provided for each M, such as Jack Ma who failed many job interviews but persisted to eventually found Alibaba. The document stresses developing the right mindset and skills to overcome obstacles through grit and purpose.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    The passage discusses the 12 M's to successful entrepreneurship which are grouped into 4 gates: Preparation, Marketing, Execution, and Self-Leadership.

    The 4 gates to successful entrepreneurship are: Preparation, Marketing, Execution, and Self-Leadership.

    The 3 components of the 'Market' discussed are: the target market, the channel where the target market can see what is being offered, and the brand positioning that will be communicated to persuade customers.

    12 M’s to Successful Entrepreneurship

    Gate 1: Preparation (IQ - Intelligence quotient: capacity to think and reason)

    1. Money – cash component

    Success Story:

    Butch Salvador was broke and had Php10 left, just enough to make photocopies of his business leaflet.
    He knew a car repairman and uses the parking lot of a mall for prospecting and left his marketing
    leaflets on windshields of ten cars with dents, which clearly needed some repair. He decided on this
    strategy due to lack of resources. One out of ten came and the next customer saw them repairing car
    dents outside the car owner’s house. From this, Car Magic was born.

    2. Model – the business model or the big picture plan to generate sales revenue profit, cash flow, growth,
    and how to scale up.

    3. Mentors – are the experienced advisers who can add value to the entrepreneur by giving sound guidance to
    increase the competency, lessen the risks, and help open more opportunities for the entrepreneur to succeed.

    Example: International furniture designer Kenneth Cobonpue was encourage by his mother (who was
    already in the furniture business) to build his own toys when he was a child.

    Gate 2: Marketing (CQ- Creativity quotient: the capacity to innovate)

    1. Mindset – is about beliefs. That being an innopreneur is better than being just an entrepreneur.

    -one must have a mindset to find a novel differentiation or Unique Selling Proposition (USP) that solves
    a real problem, by not selling the same thing as everybody else.
    -That it is possible to earn dollars not just as an OFW but as an exporter.

    2. Market – a set of buyers that an entrepreneur focuses attention on.

    -it also includes the channel where the target market can see what is being offered.

    Example: AHEAD tutorial focused on students doing well instead of students having
    low grades when they started. To change the negative perception to tutorials as a
    last resort for students who were failing in school. By focusing on achievers, they
    were able to change perception, gained status and made tutorials something
    students looked forward to.

    3. Message - brand positioning that will be communicated to persuade a

    target customer to buy. (Example: Iphone vs Myphone)

    Gate 3: Execution (EQ- Emotional Quotient: the capacity to sense and to emphatize)

    1. Machinery- it is about an organization structure that can deliver the value planned; hence,
    the organizational structure can only be identified after the value proposition is formulated.

    2. Methods – are about systems and processes that allow the entrepreneur information and
    control.

    3. Management Skills – about the ability to carry out the plans through people, rewards and
    leadership.

    Gate 4: Self-Leadership (AQ- Adversity Quotient: the capacity to recover and make progress)

    -it is needed when problems and obstacles are experienced because of the nature of
    entrepreneurship, where risks and uncertainty is expected.

    Example: Billionaire Jack Ma, founder of Alibaba.

     Started from when he failed a key primary test twice, and failed three times while in
    middle school.
     He also applied to study in Harvard and rejected ten times.
     Got rejected 30 times in applying for a job.
     25 people applied in KFC and they accepted 24 except him.
     Five people applied for a police job and they accepted four except him.

    But he persisted, not giving up on himself. When faced with adversity, stop giving excuses and
    start finding solutions to keep improving.

    Not just leadership in business but also in one’s personal life.

    1. Moving forward – having the grit to continue the business despite obstacles.

    2. Mission – about purpose or the reason why the business exists beyond making a profit.
    Example: USLT providing hundreds of scholarships to students

    3. Mastery – building capabilities, knowing the self, the environment as well as the operations.

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