#1 - The secret to success: Understanding your true business focus

Do you know what business you're truly in? It's a question that many overlook because they think it's too obvious.

Well, today, I will show you differently.

Knowing the answer to this question holds the key to evolving for success.

Now, let's get you focused on what really matters, so you can get the clarity you need to communicate your brand, align your marketing strategy and see your growth potential.

Changing how you see your business changes everything.

What business are you really in?

How does this question help you?

1. Context changes all the time. Your product may become irrelevant over time. Knowing your true focus enable you to adapt quickly and evolve fast.

2. It guides your marketing strategy, product development, partnerships and brand activations.

3. It adds crispness to your brand story.

Let’s break down the question to discover your answer:

Part 1: Defining "Business"

Many people think that their business is what they sell, for example:

• A product (a bag, a shoe, a sandwich, etc.)

• A tech ( a system, a feature or capacity)

• A service (renovations, SEO, consulting, etc.)

"I'm in the beverage business" or "I'm in the clothing business".

But "business" is not a thing, it's a trade. An exchange of value.

You get your customers money, and what do they get?

It's common that business leaders get attached to "what" they deliver. But the real question is "What do your customers get out of what you deliver?"

Part 2: "are we really in?"

Where is your focus, what are you committed with?

So the real question we're trying to answer is:

What value is your company focused and committed to deliver? This is the business you're in.

Example 1:

You might think that Nike is in the 'trainers' business, or "sports apparel' business.

If this is true, why would they have now a whole line of digital products? Why would they invest in developing tech, entering the metaverse, launching publications?

They are in the business of supporting an athlete's lifestyle - whatever form it might take.

Example 2:

This week, a friend of mine who has been running a successful e-commerce business for over 10 years called me with a problem.

His brand, Action Shop, started as a Blink182 community in the early 2000s and has since grown into an apparel e-commerce store for multiple niches revolving around sports and music.

Now, Blink182 is touring for the first time ever in Brazil, and my friend decided to put together a concert event to promote the brand and the band.

He needs to sell 2000 tickets, but so far he has only sold 100. He asked me, "What do I do?"

I asked him, "What's your business?"

During our conversation, he realized that he was trying to sell tickets for a music event, but music isn't his business.

His business is bringing the Blink182 fans and community together.

That's how the website started, then it turned into an apparel e-commerce store, and now it's showing up as a big concert event.

The moment he realized that, he knew exactly what he needed to change about how he was promoting the event.

Action step

Warmly,

Nathalia Montenegro

P.S : Ready to find out exactly what you need to do next to grow your business?

Here's how I can help:

• If you haven't yet - connect with me on Linkedin to get daily insights about how to cultivate self-awareness about your brand and yourself as a leader.

• Book a complementary clarity call with me here to gain the clarity you need to get unstuck and find a path forward to grow your business.