London-based entrepreneur, and business consultant, Josh Cote, shares business lessons for budding entrepreneurs. An avid reader, Mr Cote, consumes content and biographies from some of the world’s most successful business leaders. Here, he gets back-to-basics and shares some of the more straightforward business lessons that every business owner should be considering if planning to grow in 2022.
Listening to your audience
There are a few ways to listen to your audience. The easiest method is to ask them questions. When your business has completed a customer service call, you can ask the consumer to rate your company. Use one question to keep them focused on the message and increase your chances of completion.
When given the opportunity to ask them about their problems, take it. By asking them about these issues, you can get a sense of what they’re struggling with and what you can do to solve them.
Listen to their needs so that you can improve your business. And don’t be afraid to experiment with different ideas. Use these ideas to inform your content and marketing strategy.
Finite and infinite games in business
Simon Sinek argues that business is a game of finite and infinite players. There are known and unknown players in a game. Each of these players has goals and objectives. While all finite games end in victory, a game of infinite players can continue for eternity.
Entrepreneur Josh Cote claims the difference between finite and infinite games is that the finite game has an end. Infinite games continue for as long as the players or, in a business case, ‘customers’ are willing to continue a relationship with your business.
Understand the game you are playing.
Do you sell a product as a one-off purchase? Or is nurturing your prospect to be a long time loyal customer more relevant?
Through understanding this, you can build a business strategy to get the best outcome.
Leadership
If you are interested in learning about the traits of great leaders, Josh Cote dismisses many standard business practices. He emphasises the importance of building trust, pursuing a very specific goal, and having face-to-face interactions. Good leadership doesn’t have to be rocket science, but it does require an understanding of human nature.
Josh Cote has spent most of his career building businesses and looking at leadership, learning from some of the world’s most influential leaders and exploring the traits of the most effective organisations worldwide. Using this knowledge, he inspires others to create and lead better organisations.
He states leaders who challenge their own assumptions become far wiser and gain much more respect than those who try to establish authority too quickly.
Culture
The importance of good company culture is not new, as countless examples of companies that have made the wrong decisions are documented. If you’re looking for ways to improve your company culture, the key is to lead by example and ask for feedback.
Corporate Culture is the most crucial factor in competitiveness in attracting customers and employees.
Leaders who inspire action
Leadership is a powerful force that can motivate people to action. Essentially, leaders follow the law of attraction. By focusing on their beliefs and sharing them with others, they attract like-minded people to them. Here are three ways leaders can use this principle to inspire action:
Great leaders know ‘why.’
Why do they do what they do? ‘Why’ is what inspires people to buy products and join movements.
When people know the ‘why’, they can relate to it. The best leaders think, act, and communicate this way. The concept applies to all types of organisations, including marketing and business.
