Knowledge is Power!
The difference between a good business person and great one is knowing the true value of an opportunity when it presents itself, and secondly knowing the true long term effects a missed opportunity has on businesses growth, market position and reputation.
No opportunity despite how sound it looks is 100 % guaranteed, but we weight up the risk associated with a deal and work out what the gains v the potential losses. Knowledge is the most powerful tool a business has and we all have it, but do we truly utilise its full potential and monetary gains it affords us.
No one person controls information flow, it constantly changes so being able to act on new information is key. The slower and more complacent we are, the more opportunities we miss and the lost future revenue increases on a daily basis. The more up to date the information and the more capable we are to act upon it, the greater our return of investment for our expertises, skills, resources and time.
Being in a privileged position is not as easy as previous times, information flows quicker making windows of opportunities even smaller. No longer does an insulated view that I know best always work, modern technology means the margins of becoming and remaining a market leader are getting ever smaller. Modern business has no respect for traditions, you either get ahead of the game or spend your time chasing the opportunities passed up by the market leaders. The bigger your market impact the more chance you have to shape market trends and always be one step in front. To achieve this your adopted business approach cannot stay static, regular reviews and changes are required to minimise your weaknesses and barriers to doing business.
What made you successful in the past is not always guaranteed to make you successful in the future. A combination of many minds is important to make sure the business remains relevant to the market and addressing the client’s need and requirements. Often the more experienced we become the more narrow our thinking can become, the arrogance of experience is a common and costly one that leads to many businesses being surpassed by newer and more adaptive businesses.
Produced by Matthew Scott
Senior Commercial Sales Manager
Email: [email protected]