4 Things You Need To Reinvent Your Business

INTRODUCTION

If you’re in a city right now that says you can’t open the door and your business is shut down, is it really shut down, or are YOU shutting it down? Because the reality of the situation, like the real black and white truth, is that just because your city told you that you had to close your door does not mean your revenue stops.

If you’re running a company right now, the truth of the matter is that you need to just get out of the framework of, ‘this is all I can do for people’. “Well, Tiffany, I’m a gym. I’ve been a gym. And we have people who come in and they lift weights.” No, you have people who are trying to get stronger. You have people who are trying to change their body framework. You have people who are…

Your responsibility as the CEO of your company is to solve problems. And as far as I’m concerned, COVID has presented something really neat. It’s presented the opportunity to solve the same problem that we’ve been solving all this time in a brand new way. The question for me to you is, are you going to step up to the occasion or are you going to continue to make excuses?

TOPICS DISCUSSED IN THIS EPISODE

Peter Drucker has a really neat quote that the business world has gobbled up for as long as I’ve been in business. Basically, he says that business is all marketing and innovation. To a certain extent, I do believe that’s true, I do. To be quite honest with you, I kind of believe that business is marketing innovation and sales. Your ability to solve a problem is your ability to sell something.

Do you know what sales do in our bank account? They allow us to pay bills. Sales in our bank account allows us to keep the door open. So, is it really that you have a “Tiffany, hey, COVID closed my doors” problem or do you have a sales problem? Do you really have a, the pandemic is here problem? Or do you have a, I haven’t created something new to sell problem?

The four things that I want you to think about right now as you’re actually diving deep and you’re reinventing yourself- or maybe you’re like, “You know what, Tiffany? I haven’t even started to reinvent myself. I’m just trying to get my ass out of bed.” I don’t care which, where, place you’re in- these four questions literally frame everything. Every single year for the 16 years that I’ve been in business. In different companies and now as I coach and consult companies around the world. These four questions frame everything, everything that you get to do moving forward.

WHAT PROBLEM DO YOU SOLVE?

What problem do you solve, and then what problem do you really solve? Because a lot of times we’re like, “Okay, I solve this problem,” but really, that’s not the problem you solve. Do you know what it is? That’s just what you do. What you do and the problem you solve are two different things.

When you talk about the problem, it should do one of two things. Actually, you know, I’m lying. I was going to say that it should make you mad or sad, but the truth is that the root of the problem is just going to piss you off.  Then there’s, what problem do you solve? And there’s what problem do you want to solve? What problem you solve dictates everything.

WHO DO YOU SOLVE IT FOR?

The second part of this important process is allowing yourself to choose and to say, “Well, who do I want to solve this problem for?” Yes, you get to pick and choose. Who do you want to solve the problem for? For me, that question is backed up with, who do you solve the problem for best?

Take a moment with me right now, just for a split second. If you could have it your way and you could choose to work with anybody on the planet and it’s not just you, maybe you have a team that you absolutely dig and you vibe with and you guys are in a great place and you guys have a certain type of a customer or a client that you just, they just, they give you guys energy in life. Who is that person? If you could have it your way, if you could dream and dream wildly, who would you want to work with? What do they look like? Are they male or female? Are they millennials? Are they 22-year-olds? Are they 49-year-olds? What are their habits? How do they roll? What are they doing right now as we’re watching this?

WHAT GIVES YOU THE RIGHT TO SOLVE THE PROBLEM?

What gives you the right to solve that problem is absolutely everything, because trust and believe when I say that the market today is looking for who’s the best. Regardless of what you believe, people still have money. There is still money in bank accounts.

This question of what gives you the right is actually stupidly important because what gives you the right will either make or break you. Yes, you could be like, “Well, you know what, Tiffany? I think they should hire me because I am honest.” All right, that’s great. That’s amazing. “Well, Tiffany, I’ve been doing this a long time.” Well, that’s awesome. “I’ve been a doctor for 20 years.” Well, okay. Just because you’ve been a doctor for 20 years, doesn’t mean that you’re any good. Your length and time, your length in business is not what’s going to bring it in for you. It’s your ability to say, “This is what gives me the right.”

WHY ARE YOU DOING IT?

The wrong answer is,“ I’m doing it because I want to impact the planet.” Bah humbug. That’s the byproduct of why you do it.

The faster you get inside of, “This is why I want to do this thing.” The easier it’s going to be for your person, the company, the individual, whether you’re selling B2C or B2B, faster, they’re going to run through your door and go, “This is the person. This is what I need to be in front of. This is the company that I need to lead.” Even if you don’t sell directly and you’re behind the desk, it still doesn’t change the fact that whether they’re dealing with the receptionist, the sales team, a vendor, or contract, that they should be able to feel the extension of you period, end of subject. Why are you doing it? The more honest you are about that answer will change everything.