It’s very easy to lose focus in business; planning and defining executable strategies takes time, effort, patience, and support. Additionally, it can be hard to find the time to think beyond the day-to-day tasks and invest in building a business around what helps you stand out in your field. This is where intelligence can help you thrive.
This article is part of Effició’s Invest In series. In this blog series, we share the resources, tools, advice, and infrastructure changes you need to align your business. As an executive, founder, or entrepreneur, you need to invest in strategic intel to inform your operational strategy and financial goals.
Business Intelligence is about confirming what you know with results, history, research, and testing.
Here are five ways to be more intelligent:
1. Know What You Don’t Know
We spend too much time perfecting what we already know. Your best time is spent learning new things and in the process of understanding what you don’t know. Once you know what you don’t know, you have valuable information to become more intelligent by learning it or delegating it.
2. Stop Resisting Change
This is not about changing everything; it’s about realizing that you’re missing huge opportunities by not changing as your target markets’ tastes and preferences change. Change is a good thing if you understand how, it affects and enhances your current business model.
At the opposite end of the “change” spectrum, don’t change based on anxiety, pressure, or a dwindling bank account. Assess and seek good intel to inform change.
3. Learn Critical Thinking Skills
It boils down to becoming smarter about your business. Let go of the shortcuts and the easy way out. Get engaged in thinking, reading, writing, counting, and planning. Your business IQ will increase immediately! Our interactive courses are focused on skill development, we can help increase key skillsets for critical thinking.
4. Take an Economics Course
If you haven’t taken an economics course in a long time, take one! I still have my old economics books from college, and I can’t believe how much I use them. If not an economics course, start researching economic trends including consumer behavior. Knowing how people buy, what they buy, and why they buy can increase your revenues instantly!
5. Engage in Continuous Entrepreneurial Education
Yes, of course, I want you to register as a student in our programs! But that’s not the only reason for this entry. Learning and growing are huge components of success for any business owner. Business is moving fast, and technology is moving even faster. Unless you continue your education regarding entrepreneurship, you may be left behind. And don’t just take a class here and there, really organized a consistent program of learning for you and your team.
Intel is the lifeblood of most small firms, yet we don’t invest in intelligence enough. Subscribe to our newsletter to gain access to “monthly” analysis, & advice to support your business operations and entrepreneurship career through investigation of the “findings.”
© Effició, Inc.