IMAC: An Entrepreneur’s Way Of Life

Did you watch Rebecca Black’s Video “Friday” and think to yourself…”How could a song get any worse?” Well, I did. But I did learn two extremely important lessons: (1) 13-year old kids should not be driving cars (if you don’t get it, then watch the video above); (2) if you have an end goal, then you should understand how to attain that goal. In this case, a song with lyrics that would make Shakespeare turn in his grave, the marketing scheme worked…They got her name out, they went viral, and she is now the 2nd most famous person to come off of youtube (the first being “the bieber fiever”).

So, how do you approach this problem (or any other problem) such that you can achieve (or exceed) your goals? It’s simple. IMAC. No not the computer.

  • Initial — What’s the problems? The lemmas? The assumptions? The goal? You need to define your system, the parameters, and the setup such that you understand the scope of the task. Schedule, risk, budget, manpower, top-level input/output requirements & deliverables are just a few things that might be on that list.
  • Mathematics — What’s the quantitative or qualitative relationships that define your problem and account for your assumptions, lemmas and system.  What relates your inputs to your overall outputs?  What types of parameters will help attain your deliverables (goal)?
  • Analysis — What’s the best alternative? There are no doubt many different options for you to approach your problem, so we need to reduce these into a few viable, effective options to compare. Setting up trade studies or comparative analysis (vertical/horizontal analysis for financial statements) are just a few different ways to analyze the different parameters and relationships that exist within your system.
  • Compute — After your analysis has produced a handful of viable options, now we can compute (or logically infer) the best alternative from your different options.

Just remember that Rome wasn’t built in a day, and Rebecca Black is far from the most talented singer to exist on Youtube but both of these have something in common…a very well thought out, effective plan on attaining their goals. So whether you’re investing in stocks, starting your own business, or trying to build your future in a large company, just remember that it all starts with IMAC.

Visit www.marketheist.com for more tips on investing, trading and life.

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