Hello there.
Beautiful people love the interwebs.
This is Ajit Nawalkha and in this episode,
we are talking about what are some of the powerful
and meaningful and impactful questions
that you can ask to businesses
so they get outstanding outcomes
at the course of the duration of your work with them.
The beautiful part of this particular video,
you could ask these questions to yourself
as you are a business owner, self-employed business owner,
but still you're a business owner, you run a business.
If you would ask yourself these questions,
it will transform your business.
It has definitely transformed businesses of my clients.
Now without waiting too much and rambling more,
let's start the video.
So one of the things that is very popular right now is small
and mid-sized companies are increasingly looking for people
who can help them navigate the change
that is happening in the world.
We all know we have a pandemic at our heads right now.
As I'm recording this video,
we are all locked into locations
like the one I'm locked into,
and we are trying to save our companies from going extinct
or really finding the opportunity
and wanting to scale it even more.
There are two types of companies right now.
One, the companies that are really suffering
and the companies that are really, really scaling.
You want to be associated as a company
that is really, really scaling
despite everything that's around us.
So here is some of the questions
that you want to use in your own practice
for yourself, but also very importantly for your clients,
for them to be able to see a foreseeable future
that is exciting, powerful,
and can help them get to the outcomes
that they really truly desire
and are in alignment with their vision.
Which brings me to the first question
that a lot of founders,
while in anxiety of everything that's happening around them,
forget to ask themselves.
Question is what is the intent and what are we creating
in the next 5 to 10 years of this company?
You're not talking about the intent
of the company for a lifetime.
You're just talking about what's the vision
for the next 5 to 10 years of the company.
You see what happens in the situation
like the current one that we are in
is often because of everything that's happening around us,
we tend to get scared.
We tend to get concerned.
We look at a colleague or look at our related company
and wonder if they didn't have a good faith,
will I have a good faith?
If you look at the news of course,
we are scared shitless because suddenly everybody
is telling you how nothing's really working out.
And most of the small and medium sized companies
are going down the shitter.
Which is not necessarily true.
Bad news is good news for media,
which is why they want to constantly feed you,
disappointing bad information.
So you can constantly watch what they are saying.
But now that you're watching this video,
you know you're not going to fall for it.
Now, the question that you really want to ask,
the companies that you're working with is where are we going
in the next five to 10 years?
And the reason is to not have them fall for the trap
that is immediately happening around them,
which tells them the world is coming to an end.
Instead of that, to create a more positive
and forthcoming future.
If you're the companies that you're working with,
or yourself as an individually, looking at the future,
you tend to ignore what's happening right now.
Because you're not creating for right now,
you're creating to the future.
So when you are not thinking about the current situation
or getting anxiety from it,
and when you're thinking about the future,
and you're looking at what may happen in the coming times,
what happens is because of your shift in focus,
your current reality also tends to shift.
You start to not look at the problems
that the world may have right now,
but you may look at more opportunities
that the world may have right now.
You may look at more of what can be done
instead of what can't be done,
or what is restrictive right now.
This allows you to create positive action
because you have a greater vision,
the grand vision for the next
5 to 10 years of your company.
It is easier for you to take positive action
because you know, you're working for the future.
And that is why it's important for you as a coach
to go in to a company and invite them
to future focus dialogue.
So a simple question to have them lean into the future
instead of feeling the constraint of the present
is to ask them, where are we going
in the next 5 to 10 years?
What's our intent?
Where is it that we see ourselves
in the next 5 to 10 years?
This will change the dialogue fundamentally.
This will also help them reflect,
it will help them sit back and really wonder
where is it that they really want to go?
The current reality has presented us
with a great way to reflect on the present
and see what's important in life.
It's beautiful because it also helps us create
what we want to create in the future a lot more powerfully.
The second question that is outstandingly powerful
is what do we believe?
You see a lot of companies may have financial goals
that are set out in the future.
They might have part of goals or climb goals in the future,
but what they have never really inquired about themselves
is what is it that they truly believe in.
Knowing what you believe is incredible force
that we can find within ourselves,
because that gives us so much power to take daily action.
When you ask a company, what did they believe in,
that forces them to reflect on their values,
their belief systems.
And as a company, when you know your values
and your belief systems,
it really helps the company align their team together.
Once we knew that our foundational beliefs has
love, service and freedom,
it helps my team members and our different companies
to really be able to know
that my decisions and our decisions as a company,
we'll always be aligned in one of those three values.
And they cross themselves and put a filter so to say,
to be able to know what would be my decision,
if a particular decision is not in alignment
with love and service,
they knew most likely there's not going to accept it.
This was so foundational to the companies that we work with
that have registered 50 to 100% growth year on year.
Most of the companies that have identified such great growth
with the companies that we're interested in asking
themselves the more difficult questions,
like what do we believe in?
What are our values?
It creates so much drive within the team
and the culture of the company.
It creates so much clarity within the team
and culture of the company
that the momentum of growth exponentially
increases despite the times that are happening around us.
Even in the past few months,
while economies seem to be struggling
in a lot of small and medium-sized
companies seem to be struggling,
most of our companies have at least registered a 30% growth.
A lot of them registering as much as a 100%
growth on their income revenue and profits.
And this is not coincidental.
Getting clear about your beliefs and values
and knowing where you're going in the next 5 to 10 years
is very helpful for the momentum of the company.
That brings me to the third question.
And it's a wild question to ask any founder.
Who are the key individuals,
or what are the key roles that will help us
get to that vision?
You see, a lot of times we write the vision statement.
We write where we want to go and they start chasing at it.
We as entrepreneurs, we as founders of companies
are so excited about the vision that we want to achieve,
that we try to get there as quickly as possible.
What we forget is to go as far
as where we want to go in our vision,
as great as we want to go in our vision,
we are going to need a list of supporters
or a set of individuals who are crazy excited
about that vision as well.
Which is why it's important for us
to ask the question of what are the roles
that would be vital to get to that vision
or who are the people that are vital
to get to that vision.
What we have found is that roles are not as important
as the kind of people that you want on the team.
And that has happened especially
in the last few years of growth of companies.
You see, the world has changed
and what you need is more adaptable,
more passionate individuals to join forces.
The kind of skills that you require are ever changing
because of the technology changes,
because of how the world is changing.
And because of that, even if somebody
was an expert in a particular role,
may not be expert just a few months later.
Because of that, people have become way more important
than their expertise.
Expertise can be gained, attitudes and abilities
to be able to adapt and change
are something that are inherent and are developed over time.
So our invitation for our clients
is always to ask the question,
who is it that you want on the team?
What are some of the attributes that you want on the team
if you don't already have these people on your team?
What are some of the upgrades that you will require
to the people that you may already have on your team?
So they can take larger, bigger roles with the company?
Asking ourselves, what kind of people
do we want on the company
also sends out a message to the universe,
to the world on sending kinds of people to us.
It is not a coincidence
that one of the founders that we were working with,
once we identified what kind of people
we wanted on the company
and what could be the tentative roles they could play,
suddenly this entrepreneur who was otherwise
finding it hard to recruit people
and thought he could not achieve a 100% growth year on year.
Suddenly had all these applicants
coming into their ecosystem and asking them
to get a job with the company.
It does sound a little bit spiritual and a little out there.
But once we set the intention to say,
what kind of individuals we want,
what kind of company do we want?
What kind of beliefs do we want to express
through this company?
What kind of vision do we want?
It sends a message out unconsciously,
and you tend to attract people that are right
for your company.
A key question once we have identified the kind of talent
we want in the company revolves around a very important
stakeholder in the organization.
These are our clients.
You see, if you see your clients
as a part of the organization,
that you see as your clients,
as an expression of your company,
you would find a lot more interesting clients.
And these clients will actually go out in the world
and spread your message,
which is why this question is very important.
The question is, what do our clients believe about us?
If we were to reach out to a client and say,
please complete this statement.
My company is blank or XYZ company is blank.
How would they complete the statement?
What would they have to say about our organization,
about our company?
You see our clients know the products that we have.
They do understand that we are a business.
And so there are products that have to be purchased.
But what is it that they believe about us?
What did they think we stand for?
What is it that they think we do as a company?
When your clients define
what do they believe about you as a company
and can share that with you?
What it does for them is now they're able
to place you as a contributor to their life.
You could be an eCommerce business,
you could be a personal growth business.
You could be a training business.
You could be a coach.
You could be a service provider.
You could be doing anything out on the wall,
but once your client defines you or defines
the role that they play,
it makes it easier for you as a business,
to be able to show up in a similar capacity,
that is acceptable and is exciting for your consumers,
which is why it's important to go out for our clients
and really find out what their clients believe about them.
Because once your clients define who you are,
it makes it easier for you
to be able to create marketing material around it,
branding material around it,
marketing messages and product messages around it,
and be able to adapt your product,
to fit exact desires and outcomes
that your clients are anyway is expecting of you.
A lot of companies have an insight understanding
of what they do.
They fail to ask their clients on what they do.
And because of that,
there's often an incongruence in what the company
is trying to do and what the client is trying to achieve.
Great companies, great organizations,
great service providers always look
at what are their students,
what are their clients doing with their products.
And as they see them do things with their products,
they further define how to make the product better,
how to make the outcomes better.
Another question that is waddled to a lot of companies
that you may end up interacting with,
especially during this time is what is the profit margin
that feels comfortable to the founder,
the CEO of the company?
You see, a lot of times we are in the chase of more.
So if somebody says,
hey, what's the outcome you want as a company,
they would say more revenue, more profits.
But because there's no clear definition
of what more revenue and more profits really mean,
often the companies are in a blind chase.
Which means all of their actions are incongruent
to actually creating a particular outcome.
Let me give you an example.
One of the companies that we were working with
was clocking almost 50% of profits of their revenue.
And when I ask them,
what is the final outcome that you're trying to get?
What is the ideal profit margin that you would like?
Or what is the number that they're associated
with as profits every year?
The answer that they gave me was completely
incongruent to what they were doing in the business.
This was an individual who has built a beautiful company
and actually didn't care so much about what they take home,
because they were already taking quite a bit home.
The company was sizable.
When I asked then the question of what is the profit
that would be ideal for you,
they said they will be happy if they took about $2 million,
every single home as a payout from the company.
Currently, they were taking almost
three and a half million from the company
and the company to grow even more.
Or at least that was the intention.
So when I asked that question,
I said, okay, so would you be happier
if we did 10 million in revenue
and you are able to take 2 million home,
versus you're able to do 4 million in revenue
and take 2 million home, what would be most ideal to you?
Their answer was I rather do 10 million
and take 2 million home.
See the profit percentages in both scenarios
are completely different.
The profit percentage in scenario one
where they're taking 2 million
out of a 10 million revenue is only 20% profit margin.
But taking 2 million out of 4 million is a 50% margin
because we turn the margin down
because their intention was to get to 10 million.
We were able to achieve that goal
while still maintaining a very healthy profit
for themselves to personally take home.
The question you want to ask your client
is what is really honest as numbers to them.
It is very waddled as when we work with companies
to have that clearly defined.
A lot of companies don't define that.
And because they don't define,
they're always chasing more.
And when they're chasing more,
they get undirected and they start putting in money
into efforts and areas that are not clear.
And they also start taking on activities
that are maybe not as important.
Once your client is clearly defined if their revenue focus
and profit focus and what those numbers really mean,
it becomes easier for us as coaches to help them
devise a strategy, devise a plan
that will get to those outcomes.
Now, this is just a very, very small segment
of what you can do to get great outcomes
for businesses that you work with.
On an average, the companies that we work with registers
at least a 30% growth year on year.
Now, very often people think we're able
to create such extraordinary outcomes
because we have something special about us.
It's not true.
Getting companies to get outcomes and results
as planned is a very much a coach consultant philosophy.
This is the philosophy that I use
when I am working with clients.
My invitation to you is to see
if that strategy could work for you.
If you're curious about learning
on what a coach consultant is and how you could be one,
check out the links below this video,
they have full information about what it means
and how you could be somebody
who could be looking at that as a career
and why it is so profitable as a business opportunity
and a service opportunity
that you may want to explore as a coach.
Based on this video, tell me
some of the powerful questions
that you may have utilized with the companies
that you work with, or you may have wanted to work with.
And some of the questions that come to you
as you were watching this video.
Which are the questions that you like,
if there was a particular one that stood out for you
as an entrepreneur yourself.
If you liked this video, go hit that like button.
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that should watch this video
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an effluent career out of being coach.
Thank you so much for watching.
This Ajit Nawalkha and I'll see you next week.