Momentum Podcast: 674
Analysis is Not Inaction
by Alex Charfen
One of the most overlooked opportunities for entrepreneurs is to analyze their current situation in order to understand how they should best move forward.
Most entrepreneurs move from idea to action quickly because they feel like, otherwise, they are doing nothing.
The reality is that the best thing for your business, your personal life, and your relationships is for you to take a step back and analyze the situation to determine what the best course of action actually is.
In this episode, Alex coaches one of our members through this process at the Charfen Summit, an event for all of our members. Alex gives insight into the systems and processes we have created as a company in order to help entrepreneurs overcome the instinct of idea-to-action, and learn how to analyze and think like a successful entrepreneur.
Full Audio Transcript
This is The Momentum Podcast.
Entrepreneurs often overlook one of the most powerful opportunities available to them. That's to analyze the current situation that they're in in order to understand how they should best move forward. Most entrepreneurs move from idea to action quickly because they feel like otherwise they're doing nothing. The reality is that the best thing for your business, your personal life, your relationships is that you take a step back and analyze the situation to determine what the best course of action actually is. But how do you do that? Well, in this episode of The Momentum Podcast, we have a very special clip from one of our Charfen Summits for you. In this interaction, Alex was coaching one of our members about whether they should stay at the event once they already feel like they have what they needed to move forward. Alex gives insights into the systems and processes that we've created as a company in order to help entrepreneurs overcome that instinct of moving from idea to action and learn how to actually analyze and think like a successful entrepreneur. I hope you enjoy.
I'm Alex Charfen, and this is The Momentum Podcast made for empire builders, game changers, trial blazers, shot takers, record breakers, world makers, and creators of all kinds. Those among us who can't turn it off and don't know why anyone would want to. We challenge complacency, destroy apathy, and we are obsessed with creating momentum so we can roll over bureaucracy and make our greatest contribution. Sure, we pay attention to their rules but only so that we can bend them, break them, then rewrite them around our own will. We don't accept our destiny, we define it. We don't understand defeat because you only lose if you stop and we don't know how.
While the rest of the world strives for average and clings desperately to the status quo, we are the minority; the few who are willing to hallucinate there could be a better future. And instead of just daydreaming of what could be, we endure the vulnerability and exposure it takes to make it real. We are the evolutionary hunters, clearly the most important people in the world because entrepreneurs are the only source of consistent, positive human evolution and we always will be.
So Bradford asked, "Alex, I feel like I've plenty to implement now for the next three months, just after that morning session. Should we still do the rest of the summit?"
Yes. You should still do the rest of the summit because here's what you should never be afraid of our in system. You should never be afraid of having too much to do. So here's why I would suggest you stay at the summit because the summit is an analysis. This is part of an analysis. Like analyze. This is what you come to learn analysis. In our five step process... Brad, you're kind of walking me right into the content I was going to share. So this is interesting.
When you look at what we do as a company, at the very highest level, and Haley's husband, Destin and Diana actually help me figure this out in a couple of brainstorming sessions. At the highest level, here's what we do. We help you analyze what's happening in your business, and when I say analyze, we give you tools so that there's consistent, effective, minimum effective dose analysis so that you understand what's happening in your business. So when you look at analyze, these are things like the five core functions. These are things like when you look at your metrics and milestones, this is your weekly report. These are all the things that give you tools of analysis. These are your lists of what each department needs, department priorities. All of these goes into analysis.
When you analyze, when you have this process, you're not doing anything. You're not confusing anything. You're not going to offset anything but just conducting analysis. So three times a year we want you to come to us so that we can go through this process here in this course and together, and I can share some of the latest thinking that we've seen as really helping members get accelerated or having accelerated results. We get to share the latest refinements that we've made to the content so that your operator hears it, so you hear it at the same time. We get to make sure we get your questions answered, and we show you the new analysis tools. Like today, a lot of what I talked about was looking at the business, analyzing how you're thinking about it, what you're doing in order to move the business forward.
Now the second step of our process, and again, at the highest level is prioritize. And when you look at how our system works, it's not a lightweight prioritization system. It is the most hardcore prioritization system out there. But here's why it doesn't feel that way is because it's minimum effective dose. So when you analyze the five core functions, your metrics and milestones, weekly reports, whatever it is, when you analyze whatever tool it is to go into the interaction that you're going into so that you have the clarity to make decisions, the next step in our process is always prioritize. When you get into your 90 day target meeting, it's what could we do. Then we prioritize. We stack rank. We look at it. We look at what resources we have. Then we commit to what we will do. That's hardcore prioritization with the right lens. So we're looking at 90 day targets. We're comparing apples to apples, and we're saying what should we do first? We're always making the right decision for the business. The next step is we get into the 30 day targets meeting or the 30 day goals meeting. Same thing. We take it from 90 to 30. Another hardcore prioritization. And here's why this system, the cadence is so far superior to four time a year planning programs. The two day off sites for four times a year or even the planning session four times a year with nothing in between doesn't allow for that 12 time a year prioritization and productivity periods. So in our system, and Brad, this is why I think you should stay here because leaving here, this is what you're going to do. You prioritize what you should do next. And because you're going through prioritization... And what are the prioritization tools we have? You have your waterfall. The waterfall is a stack rank list of prioritizations based on the lens that you should be looking at what you're doing to get ultimate clarity as to the right decisions of your business. Hardcore prioritizations.
What else are you having prioritization in? Your weekly commitments. The weekly commitments are, again, you get into the weekly and everyone's saying, "What should I do this week," hardcore prioritization. What is going to be the best thing that I do today? And then where is another place we're prioritizing? In your daily planning. If you're following our system and you have the weekly commitments that you have personally... So you have your personal waterfall weekly commitments, then you have the company waterfall weekly commitments. You combine those two and you actually put them into your life by prioritization and putting them in daily planning. So you have your personal weekly commitments, your business weekly commitments, your daily planning. If you're running a relationship cadence, you have the relationship commitments. So you have this prioritization.
So Brad, here's what's interesting. With our content, you might feel like you have everything that you should do. And here's why I would absolutely recommend you stay. I want to teach you to stop going from input to action and hang out in prioritization and analyze. Because one of the things that we all do as entrepreneurs, one of the things that I will do if I don't have appropriate constraint in place is go directly from input to action near 100% of the time. I need some answers in the chat to know that I'm getting through here because man, it's harder to teach when you're not in-person. But how many of you, when I shared earlier, when COVID-19 hit, how many of you have felt this overwhelming urge to take action? Any action, just take action. Let me see the comments.
Guilty. Yes. Spot on. Yes with two S's. Oh my, yes. Okay. Brent says, "Yes, yes, yes."
So Brad, here's how I... Amanda said, "Compelled. It's not just normal. It's compelled."
Aaron from [Nyer 00:08:37] Beauty says, "Yup, even thought of selling masks."
So Doug says... Doug, thanks so much for that comment. So beautiful. Perfect comment. Doug says, "It's hard to sit still and do nothing." Okay. Now we're getting to the base.
Here's what's interesting. Analysis and prioritization is not doing nothing. We have to create the discipline to know that it's doing everything. That's the shift I'm looking for here. That's the shift I want all of you to feel because ready, fire, aim stops working when you have a team. Ready, fire, aim is shooting your team.
So Brad, this is why I'm so glad that you asked this question because first, you drew me into this content that I wanted to cover anyway. But second, I want all of us to understand this. That hanging out and analyze and prioritize, really doing the analysis and spending the time on the prioritization and really understanding what you're doing, that is not doing nothing. That is actually, literally achieving more than you ever could if you just took action. And the challenges is we all have this long life history of taking action and having results. All of us have done it. We've all gotten lucky, and we've all been in the right place at the right time. We've all stepped in a direction and had it be successful without a lot of forethought. However, we have to recognize that that is not a go forward strategy, especially once you have a team. When you have a team, we want them involved in the analysis and prioritization so that they can help us. So Brad, just by step two here, that's why I don't want you to leave. Give me today and tomorrow, and then review the list and see if you'll change the prioritization. See if what you thought you were going to work on is actually what you're going to work on or if something else became more important. So stick with us, and stay with us for the next couple days because this afternoon and tomorrow, I would be surprised if something didn't come up that you're like, "Man, I'm glad I'm still here." Speaker 2: What a powerful interaction and insight in what it means to be an entrepreneur and how to grow your business, your personal life, and your relationships in a congruent and fast way. If you're ready to unlock the code of what it means to be a successful entrepreneur and maybe you want to attend one of our Charfen Summits, we have one coming up very soon. Go to BillionaireCode.com right now. Once you're there, if you answer a few questions for our team, you'll be able to book a call and speak to one of our coaches about which of our coaching programs best fits your situation right now. All of our members get to attend the Charfen Summit as part of their coaching membership. So this is an opportunity you don't want to miss. Go to BillionaireCode.com right now. That's BillionaireCode.com.