Do you understand what business you're in? As business owners, it's so easy to get caught up in putting out fires and dealing with responsibilities that we lose sight of what we're actually working towards and who we're becoming as a company. Knowing the industry, market, customers, and your vision will help you make better decisions and identify new growth opportunities.
In this episode, join Chris and Khalil as they dive deep into the various facets of understanding your business. Stay tuned!
Show Notes
Do you understand what business you're in? As business owners, it's so easy to get caught up in putting out fires and dealing with responsibilities that we lose sight of what we're actually working towards and who we're becoming as a company. Knowing the industry, market, customers, and your vision will help you make better decisions and identify new growth opportunities.
In this episode, join Chris and Khalil as they dive deep into the various facets of understanding your business. Stay tuned!
Time Stamps
- 00:30 - Florida Heat
- 01:34 - Catching Up with Chris
- 03:18 - Knowing What Business You're In
- 05:16 - The Great Rethinking
- 08:18 - CrewXP's New Post-Pandemic Discipline
- 11:05 - Why You Need a Vision for Your Business
- 17:30 - Do You Have a Clear Market?
- 25:10 - Understanding Your Target Audience Inside Your Market
- 32:19 - Learning to Say “No”
- 37:51 - Having a Solid Core Offering
- 44:56 - Why You Need to Have a Unique Value Proposition
- 51:08 - Where Are Your Margins?
- 56:44 - Episode Recap & Takeaway
Power Quotes From The Show
- “There's nothing worse than hiring employees and increasing your overhead when you actually don't know what game you're playing.” — Khalil Benalioulhaj
- “ I think the vision for a company should be something that when you're communicating it to your team, they don't need you to come in on a weekly meeting and do a pep talk and remind them. They're able to internalize it and see it.” — Chris Griffin
- “A vision for your company is knowing who you want to become and who you don't want to become.” — Khalil Benalioulhaj
- “It is just liberating to know who you are and admit who you're not, and then work like hell to add value in the who you are side of it.” — Chris Griffin
- “I'd rather say, “No thank you”, on this one than say, “Yes”, and do no. And we lose a partner for life because we just overpromised then under deliver.” — Chris Griffin
- “There's nothing that solidifies your reputation more than when you're able to walk away from something that looks appealing, and the other person's like, “Oh, wow. Well, it's not a good fit.” — Khalil Benalioulhaj
- “I'm a fan of structuring my business. I need everybody to work hard. But, let's figure out how to have fun and bring some joy back.” — Chris Griffin
- “Having a little bit of money set aside does allow you to be selective and be more disciplined.” — Chris Griffin
- “The best businesses focus on margins, so why shouldn't you?” — Khalil Benalioulhaj
Resources
More from Chris
More from Khalil
What is Experience Builders?
Exhibitors and experiential design agencies just want to put on amazing events for their clients. We know that events always present challenges, but one many of us didn’t see coming was the pandemic.
We started this podcast to share processes and systems to help you bounce back and future-proof your business against storms we may face down the road. We cover topics like how to access capital and funding, why and how to outsource, why and how to build a brand, creating a strong company culture, and much more.
With more knowledge at your fingertips, you’ll be able to put on powerful events and build a strong business that can weather any storm.