How I Continuously Keep Innovating In My Business

Do you want to know how I keep innovating continuously in my business? Because what I believe that if you don't innovate, you won't be able to sustain in a business. And you must have heard of this. Innovate or die. So the only way to grow in a knowledge business is to keep redefining yourself. Let's get into it.

Business is all about innovation. If you're not continuously reinventing yourself or reinventing your products, reinventing your approach, reinventing your customers experience, there's only going to be a time where somebody else is going to be coming and taking that particular space. Now, in this particular podcast, I want to just break it down into how do I approach reinvention? And there are five different stages that I look at on or five different ideas I'm going to be getting into. So even if you're brand new in a coaching business or in a knowledge business, or if you've been in a business for a long time, these few pointers is going to be helping you understand how do you always be ahead of the curve. And even if there are moments where you feel that you're not in control, or.

You'Re kind of losing your mojo, or you're feeling down, or you're just feeling that no matter what effort you're doing, things are not moving forward, these five ideas are going to be helping you bounce back and make things happen much faster. So take a lot of notes and let's get in. So innovation, the way that I look at innovation is what are you doing which is different compared to others in the market, that the market sees the value in you. So if you look at some of the biggest companies like Apple, that have really innovated right from the beginning on launching new products, having a strong marketing strategy and really looking at improving their products on a continual basis, that has been a big inspiration for me personally. So the whole aspect of innovation, the core of, of innovation, comes down to intention. You won't be able to innovate a sustainable business unless your, your core intentions are there to help everybody win. Meaning if your intention is coming from a space where you want your customers to win first, you want your partners to win second, and then you would win third. Like the win, win, win model, if it's not there at the core level, then what's going to be happening is even though you may have different ideas, there is going to be a life cycle to it. So when I look at some of the biggest cultures and biggest companies in the world that have stood the Test of time. Like companies like Nike, for example, Even though there were many other shoe brands that came in and a lot of competitors came in and went, what made Nike stand the test of time was because of what they stood for. It was more like the brand intentions were so strong that they always wanted the athletes to win. They always wanted, wanted to see that.

Whoever, whatever decisions that they make as an organization, they wanted to make sure that the forefront of the decisions was to help the end users win. And because of that, the kind of brand loyalty that was built over the years has taken that particular brand to a whole different level compared to many of the competing brands that came later on. So the first thing is your intention now when it comes to a knowledge business, why are you doing this? I mean, that's a big question. And when you go deeper into this and probe yourself, are you doing this just to be ahead of others or are you doing this just to make more money than others? Are you making, are you just getting on this journey just to be ahead of others and not and have that FOMO effect? Or if you're feeling that fear of missing out when you have a root like that, then the fruits also over time will start to bear that way. What I mean by that is even the fruits that will bear from your business will be having tinges of, you know, fomo, tinges of anxiety and fears and anything that you would be doing to grow your business, all the decisions will be around that particular energy. Now when you look at the second way to innovate is to really look at what problems your market is facing and even going deep into studying the problems and understanding what their needs are. Because innovation only comes out of challenges. Because if something is not possible to be done or if somebody is not able to achieve a particular goal, then people who put their thoughts and minds and, you know, continuously thinking about that, they will find ways to make it happen. In fact, when I look at my business in the last five years, there have been multiple things that I have rolled out in the digital coaching industry that have become a normal thing right now. Things like hackathons, things like, you know, inner circle calls masterminds, like a high ticket mastermind and a community oriented, you know, masterminds that are there. And there are different kinds of masterminds in the market. There are some masterminds that are very tactical masterminds, some of them are more implementation masterminds, some of them are community oriented masterminds. So what I basically done is by understanding the problems in the market, I Try to fill the gap. And it's a good thing that once you know what your own problems are, and once you know what your customer's problems are, by having continuous feedback and reviews with all the different customers, you'll be able to pick up those patterns and then start developing innovative solutions. So the first important point about innovation is it has to come from the right intent for you to be able to innovate something that is sustainable. Second is innovation needs to come first from root problems, root level problems that you are facing yourself and your customers are also facing. So that way what happens is you'll be able to channelize all of your energy to create something that will be a win, win, win again. So again, if your intent is not in the right space, then the solution to the problem will also be quick fix solutions. And that will also bring you back to square one if the solution is only having a win lose model. Okay, now let's look at the third part. How do I keep innovating? My business is through connection. I connect a lot with my customers. I connect a lot with even with my Quantum members. I have more than 100/ quantum members in my group right now. And I do a lot of one to ones with them. And one is I'm able to understand what's going through their business on their personal side. And I also connect every single week, twice with my community. On Tuesdays, I do the hackathon. On Thursdays, do my inner circle call. On my Mondays, I do a leadership council call. And I continuously keep running polls and surveys to understand what's going through their mind, what is keeping them stuck. And in fact, a large percentage of the people in my community are brand new to the coaching world. So I'm kind of indoctrinating them into this world, getting them up to speed. And I'm so happy to say that because of this whole aspect of what I've been doing to bring people on board, it is impacting the entire industry. In fact, I don't look at anybody in this industry as competition or competitors. Everybody is a catalyst, somebody who may be good in a particular skill, there are others who may be good in other skills. And the only thing is you need to understand what is our skill. So even in your industry, if you want to really innovate, you got to understand what is your superpower like. For me, my superpower is community building. It's holding people together and really creating a revolution together and making a difference together in an industry. So that's kind of been the theme of whatever I've been doing right from the moment I started my business, again thanks to my mentors who planted that ideology and with that intention, is when I started my business. So when you connect on a human to human level with your customers and even on a one to one level, you'll be getting a lot of ideas to innovate. And for example, recently I had a call with my first batch of Quantum and I got some amazing feedback and that helped me like completely innovate a completely new system that I'm going to be launching for them right now, which will be a total game changer. That means people will be able to track their business at a kind of level that they would have never been able to track before. And that's going to be evolving into a technology based platform down the line. I already have a technology platform for my diamond members called Polestar which has completely changed the game for many of my diamond members in terms of their habits, their tracking, their accountability, Their whole life has transformed. And many of you might have seen or read of these stories. In fact, if you go to blog.internetlifestylehub.com, you can read many of the stories of our website. Diamond members whose lives have been transformed just because of, you know, the space that has been created for them in the environment. Similarly, I'm actually building a brand new platform which is more on the business oriented side of tracking things at a much closer level for my Quantum members. So innovation happens when you connect and then the fourth way on how you can continuously keep innovating in your business is by looking at different tactics that are there in the market because tactics keep changing over time. There are some tactics that used to work four or five years ago which may not be working right now. So you got to be abreast on what is the current age tactic that is working. And as long as your intent is in the right place and you know that you're solving problems and you're deeply connected with your tribe, then you'll be able to deploy the right tactics that will be the right fit for your business. Now there are so many marketing tactics, there are so many content tactics, there are many tactics when it comes, when it comes to selling, tactics that are evolving in the marketplace. Before the whole concept of webinar selling was not even there. So I started this like in 2018. Now it's like many people are doing webinars. The one to one was the only way to do and even stage based selling was only thing to do. So now we have webinars that are working, we have, you know, workshops that are working, we have, you know, low ticket offers that are working with multiple upsells. And there are so many different ways that the game can be approached right now. So the best way to keep innovating is to keep testing and tracking your numbers. And if something is going downwards, let's say you are doing very well in your business, but for some reason it's not like the same and the numbers are moving downwards and it's then you got to quickly look at, okay, when did the pattern start, when did the numbers start moving down and what are you going to do to bounce back? And what is the latest tactic right now that needs to be deployed for us to stay up in the game? And as long as you're able to completely learn and adapt to these fast changing tactics over times, that's going to keep you ahead in the business. Because even if you look at large companies like, you know, like Apple or say Nike and others, even though they are large brands, they are continuously innovating in terms of how do they go to market, what kind of a product launch will be the one that will get the maximum revenue and sales and they do a lot of research and analysis before they even, you know, launch products. So what I do in terms of tactics is I spend a lot of time unplugging myself, which is the next point which I want to mention. The fifth way on how I continuously keep innovating is I unplug myself from business for at least 25, 30 days. I use this time to go inwards. I use this time to channel to a higher energy and get a lot of downloads. When I say downloads is when you're in a calm space and you're in a space where you really want to contribute and you go through a complete detox process where you're not in your work but you're outside work and you are continuously looking at ways on how you can, you know, refresh yourself as a person. You'll get different ways to refresh your business. And that's what I do. I go for a, you know, retreat once in a year for 25 days in Mysore and I go for a complete Panchakarma detox. In the morning I do a meditation session. When I come back I get a bunch of ideas and then I note down those ideas and every day I like to note down 3, 4, 5, 6 ideas. So I have an idea document and many of the ideas are not yet ready to implement right now. And the best part is once these ideas keep building over time, you'll be in a position to pick whenever the right idea is applicable for that moment for you to start innovating. And then I do an event called Reboot once in a year where I reboot all my systems. Like in as I'm recording this podcast in 2023 on July 3rd, I did a reboot, completely revamped systems, rebooted multiple things. We did a full day event from 10am to 4pm where just like how Apple, they do a WWDC event, I completely innovated and launched many new products and stuff like that. So that has been a game changer for our community. And once I innovate, once I launch something, then I go back to the cocoon. I just go relax, refresh, think about what next. So my whole process of innovation are these five things. It starts from a core intent to it's focused on problems that I'm facing and my market is facing. And I look for solutions based after a lot of testing. I look at connecting with my audience and doing know surveys and polls to understand what is the need that they have. And then I'm always looking at what are the new tactics that are there that are working right now in the industry so that I can get the tactic or I can implement something or even improve the tactic that is already there. Because tactics keep changing over time. Number five is the my best ideas come when I'm not in work. So it's very important that especially if you're in business, you got to be in the cutting edge of innovation. Otherwise you are going to be losing customers. You're going to be in a position where customers will get refreshed also. So it's not that once you have a customer, they're going to be customers for life. They will always find newer ways to find solutions for what they're looking for. But as long as you have the right intent and you're holding the space for them, they will come back to you whenever they feel that there's a need for reconnecting with you. So my observance in the last five years is that our people come, people go. But as long as you are on the cutting edge of innovation, where the party is, people will be there. And the best part is there's nothing better when it comes to innovation than getting results for others. If you can get help, if you can get others results fast, if you can help them make progress fast. Now it does not have to be just money, but even if they're progressing internally, externally, and if they feel that connection with you, that's going to help you have customers for life. So I hope you found this podcast useful. I would like you to share your comments below on what you thought about this, and if you'd really like to be on the cutting edge of innovating like the way that I'm doing and to know what I'm doing, I would like you to just be a part of my diamond membership by going to Sids Co diamond, attend my next Diamond Showcase and certification to know more about it. And if you're not a part of my community, I'd highly recommend that you go to sidsidsids Co Live, attend my next webinar, and I would love to have you a part of the community. I just want to say that you're awesome. Make sure that you subscribe to this podcast on Apple and Spotify and I'll catch you in the next episode.