{"id":505,"date":"2018-09-08T05:30:22","date_gmt":"2018-09-08T09:30:22","guid":{"rendered":"https:\/\/www.saudercpa.com\/blog\/?p=505"},"modified":"2018-09-04T20:13:47","modified_gmt":"2018-09-05T00:13:47","slug":"the-michael-process-yesterday-today-and-tomorrow-segment-vii","status":"publish","type":"post","link":"https:\/\/www.saudercpa.com\/blog\/2018\/09\/08\/the-michael-process-yesterday-today-and-tomorrow-segment-vii\/","title":{"rendered":"The \u201cMichael Process\u201d \u2013 Yesterday, Today and Tomorrow (Segment VII)"},"content":{"rendered":"

Preface: \u00a0If you can improve [customers] peoples lives, you have a business. People think, \u2018well everything\u2019s been thought of,\u2019 but actually, all of the time, there are gaps in the market here and gaps in the market there.\u201d<\/em>\u00a0 Richard Branson 30 Days of Genius.<\/p>\n

The \u201cMichael Process\u201d \u2013 Yesterday, Today and Tomorrow (Segment VII)<\/strong><\/p>\n

Credit: Donald J. Sauder, CPA, CVA<\/em><\/p>\n

Perusing back through the business landscape to the early 1900s, major business trends or industries applicable to \u201cMichael Process\u201d entrepreneurs included the development of the engine, the tractor, the automobile, oil production, and generation of electricity. Along with these business development enterprising entrepreneurs started car dealerships, farm machinery dealerships, and gas stations. Corresponding new occupations developed e.g. mechanics and electricians.<\/p>\n

Organized in 1976 with a single mission to be the best electrical contractor in the Midwest, ProElectric in Kansas City, KS, has developed into a respected electrical contractor with annual sales volume surpassing $20 million. Employing up to 150 employees, the business provides outstanding electrical services to customers. Blossoming with an application of the \u201cMichael Process\u201d to a century stable industry, there\u2019re an entrepreneurial business that is solving problems with a business purpose successfully\u00a0for their community.<\/p>\n

\u00a0“Interestingly, the 110 story Sears Tower completed in 1974 is monument of the era. This landscape led to new occupational titles including machinist, truck driver, computer programmer, and shop foreman.”<\/strong><\/em><\/p>\n

During the 1960s the players on the business landscape comprised manufacturing, computers, telecommunications, automation and production customization, and more stores (and restaurants) to present all the products saturating the marketplace. Interestingly, the 110 story Sears Tower completed in 1974 is monument of the era. This landscape led to new occupational titles including machinist, truck driver, computer programmer, and shop foreman.<\/p>\n

What about tomorrow\u2019s \u201cMichael Process\u201d opportunities?<\/p>\n

If you have faith like Peter in the Book of Matthew, do you need a \u201cMichael Process?\u201d Here\u2019s how it worked. After they had returned home, Jesus went up to Peter and asked him,<\/em> \u201cSimon, what do you think? Do the kings of this earth collect taxes and fees from their own people or from foreigners?\u201d<\/em><\/p>\n

Peter answered, \u201cFrom foreigners.\u201d Jesus replied, \u201cThen their own people\u00a0don\u2019t have to pay.\u00a0But we don\u2019t want to cause trouble. So go cast a line into the lake and pull out the first fish you hook. Open its mouth, and you will find a coin. Use it to pay your taxes and mine.\u201d <\/em><\/p>\n

“The not only do they [fruitful entrepreneurs] set realistic goals, and take accountability seriously; but they know they create their own success, i.e. they have faith they will achieve their business vision.”<\/strong><\/em><\/p>\n

Then\u00a0there is the story of the daughter of a wealthy businessman who took her boyfriend who was studying to be a small-town pastor to meet her parents. After dinner, the father sat in his mahogany study with the young man, and started asking questions. \u201cSo how to do you plan to earn a living to support my daughter and a family if you\u2019re interested in marriage?” The young man responded \u201cGod will provide.\u201d The father followed up with \u201cAnd as a pastor, how will you buy a nice house for my daughter and grandchildren to enjoy?” Again, the young man replied \u201cGod will provide.\u201d Following up on the conversation later, the mother ask her husband how the conversation went with the young man. He replied, \u201c\u2026.another Liberal and he thinks I\u2019m God\u201d.<\/p>\n

Granted, we are not saying the \u201cMichael Process\u201d is an unfailing principle. It helps facilitate the faith necessary to succeed in business and research supports this. Dan Schawbel writes in his article 14 Things Every Successful Person Has In Common<\/strong>, not only do they [fruitful entrepreneurs] set realistic goals, and take accountability seriously; but they know they create their own success, i.e. they have faith they will achieve their business vision.<\/p>\n

“Ponder that one moment. If you\u2019re an entrepreneur, those gaps are your business opportunities and or threats. Successful businesses have satisfied customers, no exceptions<\/strong><\/em>.”<\/p>\n

If you do not have faith like Peters yet, here is a timeless quote. \u201cThe best businesses come from [customers] bad personal experiences. If you just keep your eyes open, you\u2019re going to find something that frustrates you, and then you think, well I could maybe do it better than it\u2019s being done, and there you have a business. If you can improve [customers] peoples lives, you have a business. People think, \u2018well everything\u2019s been thought of,\u2019 but actually, all of the time, there are gaps in the market here and gaps in the market there.\u201d<\/em>\u00a0 Richard Branson 30 Days of Genius.<\/p>\n

Ponder that one moment. If you\u2019re an entrepreneur, those gaps are your business opportunities and or threats. Successful businesses have satisfied customers, no exceptions. In addition, entrepreneurship doesn\u2019t require a great idea; you don\u2019t need a genius invention for the \u201cMichael Process\u201d to work for you. You simply need the expertise to improve the lives of your future customers. That\u2019s the pillar characteristic of the \u201cMichael Process\u201d case studies. Ray Kroc\u2019s name is not McDonald; Alex Fourie did not invent the iPhone; Anna Phosa wasn\u2019t the first farmer; And Michael Dell did not invent the PC. Yet they\u2019re entrepreneurs who have solved problems [closed gaps] effectively with a passionate business purpose.<\/p>\n

What if the business landscape of the future includes remote healthcare, autonomous vehicles, a sharing economy, artificial intelligence, renewable energy, smart cities, 3D printing, domestic robots, and commercial drones? The \u201cMichael Process\u201d will continue to be applicable in business as long as seed time and harvest remain.<\/p>\n","protected":false},"excerpt":{"rendered":"

Preface: \u00a0If you can improve [customers] peoples lives, you have a business. People think, \u2018well everything\u2019s been thought of,\u2019 but actually, all of the time, there are gaps in the market here and gaps in the market there.\u201d\u00a0 Richard Branson 30 Days of Genius. The \u201cMichael Process\u201d \u2013 Yesterday, Today and Tomorrow (Segment VII) Credit: … Continue reading “The \u201cMichael Process\u201d \u2013 Yesterday, Today and Tomorrow (Segment VII)”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts\/505"}],"collection":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/comments?post=505"}],"version-history":[{"count":9,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts\/505\/revisions"}],"predecessor-version":[{"id":514,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/posts\/505\/revisions\/514"}],"wp:attachment":[{"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/media?parent=505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/categories?post=505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saudercpa.com\/blog\/wp-json\/wp\/v2\/tags?post=505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}