Often people remain unaware that hard work isn’t the only factor that makes successful businesses and leaders. In addition to effort, a true achiever has the ability and mental capacity to analyze an issue, evaluate the circumstances and make wise decisions. They possess the power to turn a bad situation around and make the best of their given circumstances. This art is what we call acumen in the business world.
Now more than ever, business owners invest time in comprehending the multiple aspects that make up the business world. However, there is still a disconnect somewhere because we continue to see businesses fail. The key to success is learning how to put all the pieces together and work smarter instead of harder.
Business Acumen – Defined By Jeffrey Hammel
Business acumen is the keenness and speed with which an individual understands and decides on business issues. In order to be successful in business, one must have a deep understanding of how businesses operate. This pertains to both the internal workings of a company as well as the external market conditions.
There are many ways to develop business acumen. However, not all methods are created equal. Jeffrey Hammel of OakBend Medical Center believes that while some people are born with a natural ability to see the big picture and make sound decisions, others can always choose to learn and improve. Indeed, with practice comes perfection.
Get a Mentor
Jeffrey Hammel emphasizes the importance of learning from someone already with experience in the field. A mentor is someone who has been successful in the business world and is willing to help guide you to success. A mentor can provide advice, resources, and support when you need it most. When choosing a mentor, be sure to select someone whose business values align with your own.
Read Books and Blogs
Books and blogs are great ways to learn about the different aspects of running a business. There are many different genres of business books, so be sure to find ones that interest you. For example, if you’re interested in marketing, read books and blogs on that topic.
Take Classes
There are many different types of classes you can take to develop business acumen. Many colleges offer business courses as well as online programs. These classes will teach you the basics of starting and running a business.
Attend Networking Events
Networking events are a great way to meet other business professionals and learn about their experiences. These events usually have guest speakers who share their knowledge on various business topics. You can also use these events to find potential mentors and customers.
Get a Job in Business
One of the best ways to develop business acumen is to get a job in the business world. This will give you first-hand experience of how businesses operate. Be sure to take advantage of any opportunity to learn from more experienced employees.
Bottom Line
According to Jeffrey Hammel, no matter what method you choose, always be sure to stay motivated and dedicated to learning about the business world. The more knowledge you have, the better equipped you’ll be to make sound decisions for your business.