Stephanie Hayes, Business Transformation Consultant – InnovaBuzz 163
Stephanie Hayes, Business Transformation Consultant
In this episode, I’m really excited to have on the InnovaBuzz podcast as my guest, Stephanie Hayes, a business transformation consultant, focused on helping organizations build and improve business processes, manage change, align service areas, build capabilities and improve operations.
Stephanie is the founder and owner of multiple startups, and her passion for entrepreneurs runs deep. She believes that small business entrepreneurs are the drivers of business going forward, and that being independent leaves more room for creativity, innovation, and happiness.
In our discussion, Stephanie talked to me about
- the Four Pillars of Passion and how to use them in designing the business of your dreams
- the six core systems of any business
- the importance of focus and not overcomplicating things
Terri Trespicio on episode 152 suggested we interview Stephanie.
Listen to the podcast to find out more.
Listen to the Podcast
A business model should be structured in such a way that it is achieving your desired motivation. Go a level deeper and figure out what your business passion is. @StephanieHayes on #InnovaBuzz podcast Click To Tweet
Show Notes from this episode with Stephanie Hayes, Business Transformation Consultant
Key points and take-aways from this episode include:
- Alignment is important in business both in terms of who you are as a person and what your passions are and in terms of your organisation as an entity.
- A business model should be structured in such a way that it is achieving your desired motivation. Go a level deeper and figure out what your business passion is.
- A passion is not a hobby.
- The Four Pillars of Passion in Business.
- Being passionate about a particular customer or niche that you are trying to serve
- Being passionate about a particular product or service offering that you have created and want to deliver
- Being passionate about a particular skill set that you have and you know that that is what you want to be doing
- Being passionate about the way that you work
- One of these pillars is going to be your pillar. When you know what your pillar is, you will know how to fit a basis for a foundation of decision making for the rest of your business model.
Optimiseyour business around each of these four pillars. Figure out which one of these pillars is yours and which one needs to be true for everything that you do.
- A passion is a beacon – guidance.
Optimiseyour business. You cannot be all things to all people. If you are trying to be all things to all people, your ideal customers are not going to see themselves in you. They are not going to see themselves in your services or your products.
- If your pricing is out of alignment with your brand, your ideal customers are not going to find you, and that goes both ways.
- Casting your net wider does not always result in more customers.
- Having a culture of innovation is a commitment.
- Innovation is rooted in structure. Developing a culture of innovation is all about having a system in place for innovation.
- To develop a culture of innovation, focus on the core capabilities that you have and the value creating activities and put them in a system that allows that fluidity. These 2 forces working against each other or more so with each other in the business is what allows you to innovate.
- Business owners and entrepreneurs are never going to be in a place where everything is homeostasis. If you are not OK with change, you are probably not cut out to be an entrepreneur.
- Structure creates freedom and creativity.
- The 6 Core Pillars of a Business:
- Business Model Design
- Offers and Pricing
- Financial Plan
- Marketing and Selling
- Systems and Processes
- The way you work and your work scheduling
The Buzz – Our Innovation Round
Here are Stephanie’s answers to the questions of our Innovation round. Listen to the interview to get the full scoop.
- #1 thing to be more innovative – Balance destruction and creation. You need to build failure into your core process and breakdown that fear that prevents you from being curious.
- Best thing for new ideas – Real-time product development with customers.
- Favourite tool for innovation – Airtable. Book: Wellsprings of Knowledge: Building and Sustaining the Sources of Innovation by Dorothy Leonard-Barton
- Keep project / client on track – Focus on goals and motivations.
- Differentiate – Ask questions that no one else is brave to ask. Differentiate yourself by knowing the answers to those questions that no one else wants to ask.
To Be a Leader
Don’t be afraid to go out there and make a mess or to be wrong. The sooner you go out there and try, the sooner you are going to know the direction you need to go in. This is an environment of constant change and constant learning. If you are not willing to go out there and be messy to begin with, it is going to be hard for people to find you relatable and you have to cultivate your positioning. Just being comfortable with that is a huge step forward for a lot of business.
Stephanie suggested I interview Alex Osterwalder, Co-Founder of Strategyzer, and creator of the Business Model Canvas. So Alex, keep an eye on your inbox for an invitation from us to the InnovaBuzz podcast, courtesy of Stephanie Hayes.
Take the next step to growing your business! Sign up for a one-on-one strategy call with Stephanie Hayes.
- Wellsprings of Knowledge: Building and Sustaining the Sources of Innovation by Dorothy Leonard-Barton
Cool things about Stephanie
- Instead of Barbie and Ken, she grew up with circuit boards and binary logic.
- She built her own video games when she was in grade school.
- She started her first business at 12 where she’d dress up as a clown and entertain sugar-stuffed kids at birthday parties.