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Watch time: 2 min | Why Tony calls business a spiritual game
Last week Tony told you about Howard Schultz in Milan, watching 1,500 espresso bars where baristas knew everyone's names. Howard saw the real value of what Starbucks was selling. The founders thought they sold coffee beans, and that’s why they said no to him.
There's the business you think you're in, and then there's the business you're really in.
That's part of what Tony teaches at Business Mastery, and you don't need to own a company to use it. It works on the business of running your home, nurturing your health, or whatever you're contributing at work.
No matter what sort of business you’re in, grab a pen and answer these questions:
1. What business are you in?
2. What business are you REALLY in?
3. What business do you need to be in?
Most of us answer the first question with a job title. For the others, you’ll need to dig deeper.
A woman at Business Mastery once told Tony she was in the “organic letter box marketing” business. No one knew what that was. The reality was that she achieved incredible things by using organic materials for direct mail marketing.
She described an example of mailing invitations with engraved chopsticks to help an Asian restaurant. Soon after, the restaurant was packed, which created real profits.
The business she was really in was helping other businesses make more money in a sustainable way.
To help identify your true value, here are four criteria to consider when writing down your answers:
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Get outside your box. Think bigger than what you’re comfortable with. What’s the larger benefit that gives you a chance to grow, expand your market, or compete in a different way? Think bigger!
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Use language that puts you in state. Does it create energy in you?
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Compel people’s interest. Don’t just describe it. Does it sound aspirational to them?
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Describe the benefits, not the process. How are you serving others?
Sometimes we fall in love with our own product instead of our customer. This exercise changes that. Name the real value you bring, and you’ll find a way to do more for others than anyone else.
So what business are you REALLY in?
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