Episode 087 Show Notes: Knowing Yourself & the Market with Chris Plough
In today’s episode, we take a deep dive into learning more about yourself and identify how and when to bring a new idea to market. This episode is packed full of great advice and exercises from guest Chris Plough, so grab your notebook and pen and let’s dive in!
About Chris Plough
Chris Plough equips epic entrepreneurs for the world that is coming. Having succeeded in both realms, Chris Plough connects the art of inspiration with the business of execution to help shape the frontiers of our world.
Chris’s Top 5 StrengthsFinder Strengths
- Strategic
- Futuristic
- Self-assurance
- Learner
- Activator
Key Takeaways
- In overuse, Self-assurance is arrogant. When beautifully tuned, however, it allows you to have humility.
- Spend time every day with reflection (Chris does this through meditation and journaling).
- Identifying your core values starts with noticing and then asking, “Why?”
- By defining your core values, you can gain incredible clarity, which is one of the most powerful gifts you can create for yourself.
- We can only do so much for ourselves. It is important to have people with you who are willing to walk arm-in-arm with you who will tell you what is important—whether it’s positive or really hard to hear.
- The best litmus test for seeing if the world is ready for your new idea is whether people are willing to put money behind their support of your idea.
Listen in now!
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Time-Stamped Show Highlights
- 1:58 – Chris’s top 5 Strengths
- 2:18 – How Self-assurance shows up for Chris
Self-assurance is the second least-frequent Strength that shows up in top 5 results.
- 3:35 –Chris’s business experience and his diverse background
The breadth at which we experience and we gain comfort in those experiences gives us an ability to gain comfort in what we’ve achieved. When we talk about the stories of things we create, there are highs and lows. It’s important that we share things where we’ve exceeded, but where are the incredibly rough times we’ve had. That allows deeper levels of connections and deeper lessons for ourselves and those who listen.
- 7:40 – All of Chris’s Strengths in action
- 10:08 – How Chris has cultivated his Self-assurance
- 11:08 – The double-edged sword of Strengths
There are three areas of possible weaknesses in our world, and two-thirds of them come from our Strengths: underuse of Strengths, overuse of Strengths, and areas of non-Strengths.
- 14:15 – Chris’s core values and how he defined them
I spent years exploring what the right path is for me. How can I surround myself with the right voices? A lot of it was personal discovery, people I began to associate and surround myself with and how we helped empower each other. Then it was getting really clear as to what my gifts were, what my mission is, and how I can really help to shape and shift this world.
- 17:14 – How to find and define your own core values
Ask “why” at least three times to get down to a core. Often your cores revolve around things within ourselves are perceived weaknesses. Once you understand them, gain comfort with them and grow with them, they become Strengths.
- 22:53 – The importance of surrounding yourself with the right people
- 25:29 – The Johari Window, explained
The whole goal is to expand what you know about yourself, as well as what others know about you.
Johari Window:
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- 27:44 – Chris’s best advice to individuals who are ready to get started with a great new idea
Allow for brainstorming. Then figure out which ideas you are right for. List out what the positive and negative motivators are for you. List out what is happening in the world positively and negatively to see if it’s ready for your idea.
Next, go through this matrix. What is your desire to do this? This goes beyond want into passion. Ask what your need is for your idea. Why does this idea matter? Next, ask what your and/or your team’s ability is to execute on the idea. Finally, is this idea right for this time in the world? In the middle of all of this is an idea that is ripe for execution!
- 31:58 – The process of determining the right timing for your idea
- 32:30 – How to identify whether there is a real need for your idea
The simplest way to determining need is asking, “Will the market pay for it?” When someone says, “Yes, your idea is great!” but will not back that yes with a financial investment (no matter how small), tells you something!
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