Richard's Invention - MOLI Success System
The MOLI® Success System
More than 70% of startups fail within the 1st 5 years as entrepreneurs have not developed the core competencies for success. While acquiring know-how in business like, sales, finance, accounting, finance, operations are essential, they are not the core competencies.
After studying successful entrepreneurs for more than 20 years, Richard has conceptualized and developed an integrated framework to develop entrepreneurs called the MOLI® Success System. He began by asking what are the critical success processes any entrepreneur must go through. Then he worked backward by asking what mindset and skillset should business owners have for they to succeed in each of these processes. This resulted in the development an integrative framework that is teachable called the MOLI Success System. The beauty of this System lies in its simplicity in distilling the essence of the entrepreneurial spirit into 4 key components.
MOLI is an acronym for:
Mindset, Opportunity-Seeking, Leverage and Innovation.
1) Entrepreneurial Mindset
Everything a person does begin with his/her mindset. Mindset is a set of values and beliefs that shape a person's attitude.
Perseverance, willingness to take risk and passions are often quoted as characteristics of entrepreneurs. However, what drives a person to possess these characteristics? It is his mindset. Possessing an entrepreneurial mindset helps to unleash the entrepreneurial spirit to take charge, make things happen and make a difference.
Do you have the Entrepreneurial MINDSET?
Do you know how to align the mission of your business to your True Purpose in Life?
to propel you out of your comfort zone
to bash through obstacles with a “never-say-die” attitude?
The Defensive Mindset will help you overcome your fear of failure and the Offensive Mindset will boost your willingness to venture out of your comfort zone with a “never-say-die” attitude.
Entrepreneurs have the Growth Mindset instead of the Fixed Mindset.
Start a business after you have spotted a business opportunity. Your business produces goods and services to capitalize on this opportunity.
Do you know how to seek out business OPPORTUNITIES on a pro-active basis?
Do you know how to evaluate opportunities and avoid the scams?
As a startup, there will be many constraints. An entrepreneur should be a resourceful person. However, can resourcefulness be taught? Leverage is the art and science of multiplying your resources to overcome resource constraints. In business lingo, it is known as the art of dealing-making. This is the difference between a self-employed who does everything (solo entrepreneur) and a true-blue entrepreneur who is able to leverage on other's resources, technology, etc to scale up his/her business operations.
Leveraging ability involves identifying mutual strengths, developing win-win solutions and shrewd deal making. Examples include: working with others, harnessing information technology and the internet. It is more than business negotiation. Most entrepreneurship development programmes neglect this critical skillset.
Having an abundance of resources is not enough. “Innovate or evaporate”, this mantra shows the importance of creativity and innovation to any business.
Do you have the INNOVATION skillet to develop innovative products, services and business model? Your business needs to offer unique value propositions to your customers. This skillset will help you gain the competitive advantage to boost your business success. Innovation skillset will help you to translate possibilities to profitability.
Value of the MOLI Success System
As a teaching tool - Entrepreneurship is about creating a business venture. This is a very complex matter with so many variables. However, acquiring business know-how like sales, marketing, finance and operations does not make a person into a successful entrepreneur. Business know-how is essential however, not it is not a core skillset. Because if it is, then a business management course will produce many entrepreneurs which is not the case.
The MOLI System helps to decode the success DNA for an entrepreneur. This system is elegant because of its simplicity. The 4 components of the MOLI System are drawn from diverse disciplines: Mindset from psychology, Opportunity-seeking from numerous sources, Leverage from persuasion, influence, negotiation, etc and Innovation is applied creativity. (Innovation is a domain of knowledge by itself). The MOLI Success System can be taught in an entrepreneurship development programme in a step-by-step manner. Playing the Zeros-To-Heros game will help you discover your entrepreneurial potential and help you internalize the MOLI Success System.
MOLI Success System is for everyone. You can still benefit from the MOLI Success System even if you have no intention of being an entrepreneur. We have adapted the MOLI Success System to develop participants into entrepreneurial people who will take charge, make things happen and make a difference.
As an analytical tool - You can use this system to analyze why some entrepreneurs are super successful while others fail miserably. Lessons learnt will be invaluable as you will avoid costly mistakes and be inspired to achieve more in your business.
Move to: Richard's invention - Zeros-To-Heros game