With a new year upon us, I’m starting to take action on things I want to do better or differently to hit my strategic sweet spot. Knowing that many readers may be doing, or planning to do the same thing, I thought I’d revisit and share a deceptively simple visual I use for focusing my business ideas.
I call it the “3M” model – not because it has anything to do with Post-It notes (though those can be useful!), but because it focuses on three factors that I think are essential for success with a business or even a specific product (like an online course).
These are: market, means, and motivation.
In a nutshell, there has to be demand for the product you plan to sell (market), you have to have the capabilities necessary for creating and delivering it (means), and for real success, you have to truly driven to create significant value through making the product available (motivation).
If any of these factors is weak or missing, your efforts will be off center – as suggested in the graphic above – and you will either fail entirely or be much less successful than you could be.
I cover each of these areas in more detail in what follows and also include links to a range of tools I hope you will find helpful. [Read more…]