Editor's note: The following is an excerpt from a longer interview with Tony Robbins appearing in the October 2016 issue of Inc. magazine. In other excerpts, he talks about work-life balance and how best to hire your next employee.

--As told to Inc. magazine​

Every week, do a meeting on the business, not in the business. Ask, "What business are we really in? What business do we need to be in? Who's missing?" I don't give a shit how successful your business is, you've got to know where you are in the life cycle of it. And where your industry is in the life cycle. And where the economy is in the life cycle. What it tells you is that in every stage, there are predictable problems, and if I could tell you where the land mines are in advance, and you can know where they are, you can go through this thing with the least amount of danger possible, and you can get through it the fastest, because you know where to go.

But 99 percent of businesses have never even thought about it. No matter how good an entrepreneur you are, if you're going to be the best at something, you've got to make it a study. If you want to be happy, you should study happiness. You want joy, you study joy. If you want financial success, you've got to study.