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Business Mastery

Throw Out Your Business Plan

Create a Business Map

Posted by: Team Tony

“The only true competitive advantage in today’s changing market and economy is not having a business plan, but a business map that can take you from where you are to where you want to be.” – Tony Robbins

The pace of change has accelerated to the point where a business plan is no longer enough to plot the future of your business with any certainty. Disruptive technologies or unexpected competitors can come along and displace your business overnight. How do you position your business in this hyper-competitive environment? You create a Business Map.

This is force #1 of the 7 Forces of Business Mastery: Create an Effective Business Map.

To create an effective business map, first ask yourself these questions:

1. What business am I in? 

And then drill a little deeper. For instance, what business is Starbucks in? Most people would say the coffee business. But ask Starbucks CEO Howard Schultz, and he will likely tell you about his trip to Italy, where he saw people eagerly meeting in cafes before and after work. He saw the promise of a transitional meeting place between home and work, and that was the seed that grew into Starbucks. He knew his business was about creating an experience, not just delivering coffee.

The next two questions are: What business am I really in? How is business?

How is this useful? Back in the early 1900s, if railroad companies in the U.S. realized that they were really in the transportation business, not the railroad business, they could have prevented the entire industry from going bankrupt as the trucking industry took over. Having a business map really means framing your business in terms that enable you to see opportunities (and threats) that you might otherwise overlook. Knowing what business you’re really in means having a deep and thorough understanding of your customer and the value they gain from you.

Once you really understand how to consistently offer more value than anyone else in your market, you’re in a better position to identify where you are now, and what it will take to get to where you want to be. You’ll have more certainty about what your business needs to grow now, and you’ll be better able to steer your organization in accordance with that vision. Most important, you’ll understand what business you need to be in to become the dominant force in your market.

2. Why did you get into this business originally? Why are you in it now?

Business takes a lot of energy if you’re going to make it truly successful. That energy can get worn out, but you need to have a reason and a vision of something you’re truly passionate about where you’re serving more than yourself. Harness that passion to keep you moving forward.

3. Who are you? Who is your current client? What does your client need?

Are you a skilled producer? Are you a manager? Are you an entrepreneur? Align your true nature with your role to better serve your clients and your business.

4. Where are you – in the economy, in the industry, in your company? How do you need to prepare for the next season?

In order to succeed, it is vital that you do the right thing at the right time. The most important thing you can do is understand where you are now and identify current opportunities.

5. What’s next?

Create a compelling future for your business. At Business Mastery, Tony will help you define a clear map – your business GPS – so you can stay on track and achieve your business goals in the shortest possible time.

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