What are you going to be known for in business?

Are you good at everything, or great at one thing?

If you are a fan of podcasts, I highly encourage you to check out “At the Table with Patrick Lencioni” as he discusses some fantastic topics in the world of business and leadership.  I listened to a recent episode (you can listen HERE) that I really enjoyed, talking about how to truly thrive as a business.  There are three main business values (best product, operational excellence, and customer intimacy) where Patrick and his guests outline the importance of being good at all three, but great at one.  What is your business known for?

• Best product.  Businesses like Rolls-Royce and Rolex are widely known for their superior products.  For me, I strive to have the best product (keynote speech and book) to help others make their dreams come true.
• Operational excellence.  Having consistent execution of your product and brand can be difficult.  Wal-Mart and McDonald’s are two businesses that come to mind with consistently growing their brand without sacrificing profitability.  During my career, I definitely had a very strong system as a basketball coach, but now finding it more difficult to execute consistently as a motivational speaker.
• Customer intimacy.  When I think of outstanding customer service, I think of Chick-Fil-A, Disney, Zappos Shoes, Starbucks, and Ritz-Carlton Hotels.  All these companies are excellent at customer intimacy and making the customer feel valued.  In my business, I have seen major improvements as I put more effort into my clients and providing them better value.
• What is your main business focus (of the three) and how do you prioritize it ever day?

Did You Know?  Coach had two virtual speaking engagements this week.  He delivered his Dreams Really Do Come True speech to the Naples Rotary Club, and his Leadership speech to a group of executives at Ashton Plumbing, Heating & Air Conditioning, an HVAC company in the Vancouver, Canada area.

Life Tip #45:  You never get a second chance to make a first impression.  Choose what you want your business to excel at.