What Business Are You In? Lessons From Christie Hefner

Really great leaders make their businesses simple to understand.

Because when there is clarity, there is unity of purpose. And when there is unity of purpose, there is advantage.

At the High Stakes Executive Leadership Forum, Jeffrey Hayzlett, Chairman of the C-Suite Network, Primetime Television, and Podcast Host, sat down with Christie Hefner, Chairman of Hatchbeauty Brands, former Chairman, and CEO of Playboy Enterprises, and one of the most influential women in business. Their conversation was incredibly insightful and contained critical leadership focus areas and mindsets that are absolutely necessary in order to compete in this tumultuous economic climate.

Hayzlett and Hefner discussed unconscious bias that has kept women in executive leadership from an equitable representation in the boardroom (20% of women are on executive boards, yet they make up more than half the population and half the MBAs – grrrr.) and what leaders can do to cultivate stronger diversity both within their companies and externally. They further discussed the future in business and what needs to be kept at the forefront in order to stay competitive.

“Either companies are growing or dying; it’s only one or the other,” Hefner said. Too often leaders aren’t paying attention to the important shifts in business and adapting quickly enough to new models. The question that Hefner suggests all leaders ask themselves is simple, but sometimes not easy:

“What business are we in? If you answer it correctly, you’re Netflix. If you answer it wrongly, you’re Blockbuster.” This clarifying question must be answered in order for organizations and their teams to move as rapidly and effectively as possible, especially in the midst of so many unknowns.

As Jeffrey and Christie talked about the impact of Covid-19, they highlighted the impact that TIME has had on business. Hefner stated, “The pandemic is a time machine to the future”. Hayzlett reiterated his belief that the increased velocity must be mastered in order to continue to drive and thrive in this perfect storm of global challenge. Great leaders listen well, communicate with transparency, and engage their entire teams on a unified approach to success. This requires clarity of purpose and a true understanding the intrinsic value of your products, services, and company actually provide the customer.

Don’t make the mistake of competing against your competitor! That approach is no longer a business model that is sustainable because it’s just too darn slow! Instead, great businesses will accelerate their growth instead of contract because they are the ones who compete for the hearts and minds of the customers they serve. As my brilliant colleague Tyler Hayzlett, Marketing Jedi, and fellow C-Suite Network Advisor, cautions, “Stop operating in the shadow of the past.”

Are you ready to move your business out of the shadow of the past and keep pace with the hyperspeed of the Now? What actions will you take today to grow instead of decline? Most importantly, do you — and all of your team members — know what business you are REALLY in?

Up-to-the-minute, relevant business insights are just a part of what the C-Suite Network offers through their Executive Leadership Forums and Digital Discussions. If you would like to be a part of more conversations from the c-suite, become an Executive Leader today. As a thought leader in mindful performance and C-Suite Radio podcast host, I am on a constant quest to discover how top leaders in business deliver their best performances. During the High Stakes Forum, Jeffrey Hayzlett and Christie Hefner demonstrated why they are two of the best.

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