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Entrepreneurship – Trust your Instincts

Written by: Carrie Langstroth

Article Overview: When running an entrepreneurship, developing your instincts can be a great asset for you. To develop this skill, start observing different situations. Use your instincts to take risks – big or small. Even if you don’t succeed, you will learn a lesson that you can use throughout your life.

Entrepreneurship – Trust your Instincts

Before we were introduced to technological advancements, spreadsheets, financial charts, and trend lines we relied on our instincts. We knew how to depend on our inner ears and eyes to see as well as listen for clues to a person or situation; clues that could make or break our choices.

The greatest breakthroughs in business have happened as a result of following a strong hunch coupled with a passion for making a difference. This is a fact that is revealed when you read business biographies. KFC, Microsoft, and several others look back with pride at 'the hunch' that paid off.

The animal kingdom relies entirely on the instinct to keep them from danger, find food, or survive. Instinct involves observation with all senses on red alert. Ancient tribes who knew how to stalk their prey picked up this invaluable tool by observing their environment.

Your business instinct will tip you off, sometimes out of the blue, on the right deal, the right product, or the right timing. Successful entrepreneurs rely on their own observations and instinct rather than on management consultants, MBA degrees, or trend lines. They observe their own products and customer reactions to other successful products, and they know what it takes to hit the jackpot.

Such entrepreneurs are also rampant risk takers. If they do make mistakes they lose a lot but gain practical knowledge on how not to do something.



How do you develop your instincts?

To be a successful entrepreneur, you need to develop your instincts. The way to develop your instincts is to start listening while you observe and by taking small risks if you are risk averse.

If you are a risk taker, who makes poor choices at times, it will be a good idea to spend some time going over the events that led up to your failure(s). Learn from your mistakes.

What are your instincts or hunches?

Instinct tells you that you should buy instead of sell, make a deal, or go against the conventional ways. It is what some call gut feelings. It is strong enough to motivate you to act but if you are risk-averse it is highly possible that you will suppress such uninvited and unconventional thoughts, classifying them as irrational whims.

How to apply your instinct or intuitive thinking to your business?



Successful entrepreneurs use their instinct and intuitive thinking to gain success in business. Here are some tips for you.

• Don't jump at good ideas. Stew them, prove them, and then apply them.

• Think over a plan, feel their instincts, and wait for a bit - it may be a good deal but the timing may be wrong.

• When making a deal or while attending a business meeting observe the people you are about to enter into a partnership with. How do you feel about them? Do they make eye contact? Are they confidant about their product or service?

• Listen to your customers or your specific niche market.

• When you have a strong hunch follow through - take a calculated risk.

Trusting their instinct may come easily to some but there are others who prefer the safe, planned and meticulous charts, financial tools, and matrices. The ideal practice would be to wrap your instinct around all your favorite decision-making methods.

Above all listen and watch. Trek into the great outdoors - that is where the best lessons are learned if you have never bothered with unsafe places or situations. If well-developed, your instinct will prove you right and your choices will take you in leaps and bounds to your goals as an entrepreneur.

Related Articles
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  Lesson #4: Use Your Intuition
  18.0 Conclusion: Entrepreneurs and entrepreneurship in Africa
  Lesson #5: Go With Your Gut
  17.0 What Needs to be Done - Mainstreaming Entrepreneurship: Entrepreneurs and entrepreneurship in Africa

Article Tags: successful entrepreneurs, trust your instincts
Referred by: http://jaykubassek.com



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