It was Christmas time and I was at my in-laws house. I went to the kitchen where I had a clear view of the living room and Oliver, my oldest son, playing with some trains. I looked down and sitting on the counter there was a bowl of M&M’s. I had a few and then decided to share the love with Oliver, like a good father. With perfect aim, I tossed them in complete silence. They fell near him like rain drops. Not surprised, Oliver stopped, looked at the M&M’s and ate them. He didn’t even look my way or even attempt to find the source of the mysteriously raining candy. I was intrigued to see how much I could get away with. I repeated this exercise a few times and I obtained the same result. Needless to say, this happened all throughout the holidays.
It really grabbed my attention the fact Oliver did not even think through the situation. He just saw the candy and ate it. Thinking through my exceptional parenting skills brought my attention to a beautifully accidental metaphor. These mysteriously raining M&M’s were like business opportunities.
For so many years, I would take on business opportunities just as Oliver would eat the M&M’s. Without researching or looking into much about the business, I would gather them in my hand and just eat them. I did not think through the who, the what, the where, or the why, I would simply accept. Contrary to Oliver’s experience, my raindrops were not always delicious chocolate controlled by my goofy, but loving parent. Over the years, I have been a part of many business deals and accepted countless business proposals. While I do not regret the experiences I have had so far, I would definitely change things if I had the opportunity of a re-do. That is the main reason of IQ Consulting Group. We want to hand pick the chocolate for you, and try to help you identify the bad ones from the good ones. We don’t want you to be left with a rotten taste in your mouth from a business plan gone south.
Next time a business opportunity is mysteriously rained on you make sure that it is a vetted business plan. A business opportunity is more than a product idea and it goes well beyond the initial thought of opening a business. A business opportunity should be backed by a plan providing clear steps on how the venture will attract, retain, and reward stakeholders – customers, founders, employers, investors, distributors, suppliers, etc. A “what can possibly make me money” situation usually joins the failed business graveyard.
Hopefully next time M&M’s mysteriously rain on you, you will gather them in your hand and look at them closely. You will make sure they are real, you will check the source with as much as detail as you possibly can before putting them in your mouth.
Founder of IQ Consulting Group, Brand Owner of STS Repair, and Franchise Owner of Tech Bar with a B.S. in Electrical and Electronics Engineering from the Merida Institute of Technology, M.S. in Biomedical Engineering from The University of Memphis, and has a Certificate in Entrepreneurship Essentials from Harvard Business School Online.