Monday, January 13, 2014

Data Is Great ; Instincts Are Better

You’re either born a business person or you’re not. It is this simple. I’ve encountered two types of entrepreneurs in my life. Those who know business and those who know how to repeat facts and review data.

While data and facts are great, they will not help you when it comes to the instinctual decision making skills needed to survive in business. You have to know how to read people, read between the lines when considering business trends, and understand the profit potential associated with gut instinct.

Allowing data to navigate your company’s operation is like driving drunk. You’re somewhat aware of what is going on, but you’re not fully capable of operating a vehicle. In fact, operating a vehicle while impaired is dangerous (often fatal) for so many reasons. The applies to using data to pivot your business or business ideas. It’s fatal if not dangerous.

So, this Monday ask yourself if you run your business relying solely on data or mixing statistics with personal feelings. If you’re doing the later then you are in good shape. If you rely only on numbers and figures then ask yourself how business is. I’m willing to bet not as great as it can be.

Until next time,

Twyla Garrett

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