TONY ROBBINS BUSINESS MASTERY – TOP 3 TAKE OUTSWorkshops, 27/07/15
I recently attended my first Tony Robbins event, which just in itself is an experience, the 5 day intensive Business Mastery event is quite an experience, I don’t think I have actually danced, cheered and chanted for that long and consistently ever in my life. From the moment you walk into the seminar you are constantly reminded that; “Energy is power, be energy rich”, at first I thought this was to just get through the 5 days of epic cheerleader moves but I now (obviously) understand to be much more then that and this is why I wanted to share my top 3 takeouts with you (minus the dancing and cheerleader moves) as I myself found them extremely beneficial.
One thing that really stuck with me from the beginning was the notion that ‘proximity is power’; who we spend the majority of our time with is who you will become. So in saying that, let’s hope I don’t wake up in 12 months and am covered head to toe in tatts like TJ or I think my dad might disown me, but it does make you take a step back and look at the people you surround yourself with and I do consider myself fortunate to work with TJ and Liv on daily basis to continue to learn and involve with them and everyone we work with on a daily basis.
A huge admiration I have for these guys and is something Tony spoke about a lot, is being able to recognise the value in your business, that you need to respect your business or others won’t. You just have to ask TJ about RBT and you can see the genuine passion he has for his business, from starting from 1 gym and not being able to afford rent that he had to live in his gym, to currently having 8 gyms worldwide with more opening rapidly in the next 12 months. Without that passion, drive and belief in what he does there is no way he would be as successful as he is today.
It is important to understand the life cycle of a business and where you currently are. Below is the 10 Stages of the Life Cycle of a Business.
The 10 Stages of the Life Cycle of a Business
Stage 1: Birth of a Business
This is the the ‘stage of certainty’ of your business. Most people at this stage work to meet their own needs and have a job not a business.
To success you need to think of the needs of the business as different from your own needs.
Stage 2: Newborn/Infant
In this stage of business you enter a race for survival. You need to hire a person to handle the increased workload that has resulted from the successful birth of your business.
Serious problems at this stage are knowing the difference between revenue and profits and you focus entirely on production and cash flow is a challenge.
Stage 3: Toddler
You have now begun to build your own management team but you still maintain absolute control (your team works together but still relies on you for all core decisions).
Cash flow is still a concern, but you’re making significant progress, the business now can walk and talk, so now there are others that can make decisions and create problems.
Stage 4: Teenager
You have started to develop a professional team to manage the business. Growth is your primary focus and innovation in both product, services and sometimes multiple companies.
Problems at this stage is the lack of system, lack of fundamental understanding of the downside and over confidence in making decisions that can ultimately kill or damage the business.
Stage 5: Young Adult
Better understanding of the future and making more educated and committed choices. Here you see a rebirth of identity, where you begin to settle down and get serious.
The focus is on what not to do, control, measurement and systems and most importantly on increasing profits versus revenues.
Physiological difficulties for the founder and creators in the organisation because the business is now going into a controlled measurement mode and the entrepreneurs nature to create new things can throw the organisation back into the teenager stage or destroy it.
Stage 6: “The Prime” (Zone of Maximisation & Maturity)
The business is no longer run by the wishes of one person -it’s led by a message, values, and a reason for being. The organisation knows who they are, who they are not, and what they will do in the future.
Goals at this stage are to increase revenue and profits and to create an organisation that has a vision it brings to the world.
Problems during this stage are around costs not being managed well and systems and people begin to lower this intensity.
Stage 7: Mid-Life Evaluation
To rejuvenate and create innovation to meet customers needs in new ways. The focus is on innovations in systems and controls.
Often in this stage the management team needs a refresh, new creativity and if possible re-engagement of the founder/visionary/owner.
Problems are around the people; some of the original team may have aged and be at a different life stage and not have the same level of commitment to the vision or the business. The owner/visionary or original stake-holder may have left the business.
Stage 8: Ageing
If you are not transforming your business, the breakdown of your business will start to accelerate.
Problems in this stage are a mix of everything; people problems, process, customer problems, entropy is in full swing.
Stage 9: Institutionalisation
The organisation should be dead but is kept alive through subsidisation or nationalisation. The only things keeping you alive are the systems, rules, policies and procedures.
Stage 10: Death
With no vision anymore and no people to support it, your business unravels and dies.
My second biggest takeout from the Business Mastery was the ‘7 Forces of Business Mastery’.
The 7 being;
1.Knowing who you really are
- What business are you really in? Identifying gaps between where you are and where you want to be.
- Knowing why you got into your business in the first place? Why are you in it now? What do you need to get from this business long-term?
- Who are you and who do you need in your business?
Constant Strategic innovation
- Add more value to your products and services
- Know who your customer is and who your customer needs to be and what they value.
World Class Marketing & Product Promises
- Always be constantly adding more value to your products and services
- Produce, deliver and serve the customer in a way that produces raving fans
Sales Mastery Systems
- Effective process that create geometric growth though referrals.
- Recruit the right people, train them effectively, re-train and test.
- Inspire, reward and punish them.
Constant Anticipation: The Power of Financial & Legal Analysis
- Anticipate legal challenges or you could lose years worth of work and profits in a few cases.
Constant Optimisation & Maximisation
- Knowing your;
- Key Drivers
- System for Measurement
- The Value Chain
- Business Process
- People Optimisation
- Always find a way to exceed your customers expectations or desires. Give them more than what they ask for -giving them what they truly need and converting them into your most powerful sales tools through word of mouth and referrals
Moving along from the last point of the 7 forces a lot of Tony’s Business Mastery was about creating raving fans. Below are the 7 strategies to creating raving fans.
7 Strategies for Creating Raving Fans
- Give more than you promote
- Always leave your clients in a better place
- Use the principles of creating jackpots and variable reinforcements
- Run your business in an open, transparent way
- Always reward your best clients
- You have to create a structure and a system that allows everyone in your organisation to consistently meet your clients needs
- Give back in whatever ways you can: to your customers, the industry, and society as a whole.
And lastly, my biggest takeout from the Business Mastery was being able to identify ‘Who you are’? and by this I mean are you a; skilled producer? A manager/leader? Or an entrepreneur?
You need to Identify who you are in business;
A person with extraordinary talent, consistently meeds the needs of the community they serve in a sustainable way.
Someone who consistently manages and meets the needs of skilled producers so they meet the needs of the community in a sustainable way.
Effective leaders have management skills, but managers don’t necessarily have leadership skills. You have to cultivate or find leaders.
- A creator and keeper of a vision
- Attracts and effectively engages Managers/Leaders
- Has enormous risk tolerance and is willing to take significant personal risk
- Works with Manager/Leaders to create and build a system that consistently empowers skilled producers to meet the needs of the community they serve in a sustainable way.
By establishing who you are you are able to recognise where you need help with your business you can fill the gaps, as Tony mentioned; “Human emotion is the most resource you need; resource are human emotions”.
As always guys, thank you for reading and if you have any questions or comments please let us know below and if you take one thing from this whole blog, let it be this; “Train your mind to think differently, great ideas don’t disrupt you.”
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