#3 - Does your business plan meet the 5 commandments by MJ Demarco
Updated: Aug 18, 2018
Do you want to start your own business???
Does your business plan meet the 5 commandments by MJ Demarco
If you trace any successful millionaire or billionaire companies story, 9 times out 10 you will find these 5 commandments. The commandments that will help you set up business that could last for lifetime rather than couple of years.
The 5 commands are ….
NEED – the primary reason for every business to exist is to solve some kind of problem or meet some demand. So Think about what problem can you solve or what current demand can you meet ?
ENTRY – in the book MJ says the road where there is traffic there is no movement. To beat the traffic, your car (PRODUCT/IDEA) must be exceptional. How are you planning to stand out from competition?
CONTROL – if you buy sports car would you like to be driver off the sports car or the passenger. Majority of the people answer driver, when I ask them this question. The same way as the sports car you should be the driver of your business
SCALE – this commandment is about scale and magnitude. How scalable your business is going to be …
>Pool = Local
>Pond = City
>Lake = Regional
>Sea = National
>Ocean = Worldwide
TIME – does your business run without your presence? does it run 24/7 ? your Business should detach from time and your presence . you should be able to delegate or automate certain process so that your business can run without your presence.
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