What do the owners of large businesses like Steve Jobs, Bill Gates, Robert Kiyosaki and even closer to home, Jacques Guénette of DLGL have in common? Well, these great decision makers have what is called business intelligence. This is the key asset behind great successes, growing businesses and innovation strategies. If you want to succeed, want to develop a business or enter your industry, here are some tips to help you develop your business intelligence!
What is business intelligence?
There are many forms of intelligence. But when it comes to developing a business, using strategy or starting a new product or service, business intelligence is paramount! In fact, business owners or managers who have developed this intelligence are particularly good at interpreting and exploiting the various indicators (http: / / www.wizeba.com / measure-processes-to-performance /) to better understand the environment in which they operate, such as their business and the market. They use them to guide their strategic decisions. That’s why they’re often smarter in times of change, can optimize their business model, create opportunities, influence trends, as Steve Jobs did so well. They also know how to anticipate the consequences of their decisions, communicate and develop their leadership. Regardless of the nature of the business and its role in it, a seasoned decision-maker can develop his or her business intelligence to influence organizational and personal success.
What are the characteristics of those who have developed their business intelligence?
- Know how to surround yourself with the right people:
Great success rarely comes alone. That’s why many decision-makers recommend that you surround yourself. According to them, you have to know how to ally yourself with the right people and avoid some of them.
Try to surround yourself with talented people who share your vision, believe in your organizational values and fill some of your gaps with their strengths. When it comes time to withdraw from operations, it will be easier to delegate if you have confidence in competent people. To learn more about delegation strategies, read this article: http: / / www.wizeba.com / deleguer-une-strategie-profitable /.
- Taking action:
Acting makes all the difference! For some, like Tony Robbins, there is a time for reflection and a time for action. In short, you have to be able to move from idea to action. If you don’t, your business intelligence won’t be put to good use and your ideas will fade over time… To learn how to move from idea to action, and thereby increase your business intelligence, see this article: http: / / www.wizeba.com / plannership-growth /
- Control communication:
Communication is necessary to succeed in business. It’s everywhere: in every exchange between professionals, employees, departments, suppliers and so on. Developing your communication skills is a must, especially for decision-makers and managers. The more effective the individual is in conveying his or her vision and messages, the more influence he or she has on the environment.
To improve your communication skills and business intelligence, try to adapt to your audience, as personalities, perceptions and experiences can influence the understanding of the message. To avoid misunderstandings and ensure that your message is understood, please ask the person you are speaking to what they understood. Conversely, if you are unsure of her message, simply ask her to clarify her statements or ask questions. In short, communication is above all an exchange, the parties involved must be active and on the same wavelength. And don’t forget that the message needs to be clear before it’s released.
- Cultivating positivism:
Even the greatest successes have faced challenges of all kinds. In some cases, failure followed failure before success. So to develop your business intelligence, stay positive even in difficult times. A clear-sighted, rational and positive decision-maker will always be one step ahead during a period of change. When faced with the next obstacle or major decision, avoid being closed, reluctant to change or defeatist. That will undermine the morale of the troops and yours. Remember that good leaders are not the ones who have never faced challenges, but those who take them on and learn from them.
- Maintain control over your emotions:
Warren Buffet once said: ““If you don’t control your emotions, you won’t control your money.” Business intelligence is therefore closely linked to emotional intelligence. Emotions should not dictate your business decisions, as they cloud your vision and undermine your rationality. To increase your business intelligence, try to control and understand your emotions. Then make a decision once calm and calm.
- Adapting to change:
Yes, the market is constantly changing, especially in recent years. Competition is emerging everywhere, technologies are being perfected, and consumers are changing their buying habits. In short, everything is changing at an astonishing rate. It’s important to be able to adapt to change and even take advantage of it. Because change brings opportunities! Believing in it and adopting it in your organizational strategies is like boosting your business intelligence. Most importantly, we must avoid falling into the trap of excuses, as mentioned in this article http: / / www.wizeba.com / 5-excuses-fatales-en-affaires /.
- Maximize technology by:
Technology solutions are a powerful lever for businesses across all sectors. Because business intelligence is the ability to interpret and use data to better understand your environment and then decide, you need the key tools. Try to make the most of technology. Don’t hesitate to use it and don’t worry about computerizing internal processes to generate more value. If you are unfamiliar with technology solutions, consult a business analyst. To learn more about business analysis, read this article: http: / / www.wizeba.com / how-bi-choisir-the-logicals-for-son-business /.
- Be disciplined:
Without discipline, success can be unstable. Great leaders and decision makers have had to work their discipline to achieve their goals. If you are undisciplined, work in sports, do a task, develop your skills, follow an objectives log and keep it up to date. You will have a positive impact on your business intelligence.
A Final Business Intelligence Advice
If you want to develop your business intelligence, improve your skills and, above all, have a fresh look at your business and your environment in order to influence them. Don’t hesitate to consult a professional, such as a mentor or business analyst, to take the necessary step back and have an objective overview of your situation, goals and challenges. You can also use continuous improvement programs, join a network of entrepreneurs, exchange with entrepreneurs from different industries, test new things, adjust an approach until it’s optimal, read books on leadership, etc. Above all, make sure you measure your actions and the results of all your efforts. You will see that it is quite simple to develop your business intelligence when you have the right tools.