We often hear about successful entrepreneurs such as Steve Jobs and Richard Branson, who have admitted that they relied on their gut more than any statistics and analysis to achieve their success. With business trends being dominated by statistics and analysis, questions like, Is relying on one’s intuition a good idea for reaching success? And Is it better than relying on statistics and analysis? The answer to these could be that intuition indeed is crucial for business.
Even though businesses require statistics and analysis in order to be functional and productive, there are still too many unpredictable factors such as social relationships, trends, emotions, and other factors that are difficult to analyze immediately. Such factors make it prominent that for an organization to become successful, both intuition and analysis need to work hand in hand.
Furthermore, studies have reported that about 80% of successful entrepreneurs tend to rely on their intuition, they are found to integrate this intuition with their cognitive capacities and knowledge when weighing options for making decisions.
So, how to build this intuition for business? Our intuition is a result of the subconscious mind, past experiences, and gut feelings. The basic step to develop business intuition is to increase your knowledge about your business decisions so that you can allow your subconscious mind to help your gut feeling. Also, there are many instances where you need to deal with new situations, therefore, it’s better to take some time away from those while simultaneously trying to engage yourself in different activities as it’s been observed that intuition strikes the most during such activities.
Furthermore, an effective hack that you can practice everyday to build your intuition is to learn to pay attention. This involves paying attention to things that are slightly out of the ordinary and asking yourself what you feel about them. This is an effective approach because not only those non-ordinary things can become your business ideas, but paying attention to them while asking your gut feeling helps you to trust your intuition and remove possible barriers to it.
Bonus tip: Your self-critic can be a barrier to developing business intuition as it keeps asking you to think about the negative outcomes. One way to deal with this is by taking a walk and asking yourself about the fears from which your self-critic is trying to protect you. This might be overwhelming, but it would help in understanding and then finding actions to overcome such fears.
Challenge: Try to find one non-ordinary thing in your surroundings and write how that can affect your business in the comments.