Planning the Perfect Side Hustle: The V2MOM Framework Explained
V2MOM framework (Vision, Values, Methods, Obstacles, and Measures) would be quite easy to understand with an analogy, so let’s talk about the preparation for a grand medieval festival.
Vision (V)
When we talk about vision, we are talking about the master plan for the medieval festival. As a festival means to create an unforgettable experience of celebration and joy, in such a way our vision is a clear objective or dream. It’s what you aspire to achieve.
Values (V)
The culture that should be reflected in medieval festivals refers to the ethics and principles followed to achieve it. This has to be the core belief for guidance of every action and decision. We can say values would be authenticity, community engagement, and historical accuracy that should remind people of the medieval era. In the case of business, it is about quality, customer focus, and innovation.
Methods (M)
Methods include organizing events, arranging vendors, and setting up decorations. These are the specific actions and strategies you will use to achieve your vision. We can conclude by saying you need a roadmap for the task you want to achieve, it has to be crisp and very relevant to the topic.
Obstacles (O)
Potential issues that may arise during the festival, such as bad weather, performer cancellations, or logistical problems, are known as obstacles according to this framework. Obstacles show us the path of continuous improvement, in business, it could be market competition, limited resources, etc.
Measures (M)
Attendee satisfaction, revenue, and overall turnout are the major KPI’s metrics to measure the success of your festival. Essential indicators that could be framed as success and failure is an important measures like ticket sales, feedback, and media coverage. Measures are usually calculated for continuous improvement in the future. In business, it is like to measure customer satisfaction, sales growth, and market share domination.
Conclusion
Utilizing the V2MOM for any kind of side hustle is just like organizing a grand medieval festival, just always remember the importance of every element in it, trust the process and you can turn your side hustle into a thriving venture.
“Success is not final, failure is not fatal: It is the courage to continue that count.” — Winston Churchill.
