Tag Archives: business acumen

Business Acumen – Developing The Right Attitude

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Doing business today is very tough, that is why you need to be armed with a strong background in doing business. You must have the right attitude because it is the one that will bring you to success or failure.  You need to have the skills vital to decision making because money is being talked about.  Having the guts and the will to make things happen is a factor in having a good business.

In dealing business, you must have business acumen.  Business acumen is the ability of a person to see things in a wide perspective.  A person with good business acumen is someone who is capable of giving good judgment with regards to dealing business.  He is capable producing positive outcomes where profits are made.

Business acumen is not just a specific thing wherein you can develop easily.  This ability takes time and experience before you can fully master it.  There are a lot of things that you must consider when talking about business acumen.

One of these things is intelligence.  You must have the intelligence to read reports and understand the business transactions of the company.  You must be smart in the things that you do because you are the one who is responsible on the things that you do.  You must constantly  educate yourself so that you will be able to catch up with the latest trends in the market.

Another good thing that you must possess is the ability to communicate well among other people.  Being effective in communicating with others can bring everybody to work together towards achieving the common goal.  Good skills in communication will help you to spread out the purpose and the goal of the company.  Knowing how to communicate doesn’t necessarily mean that you are capable of talking in long speeches.  What true communication skills show is that, words must be brief and yet precise.

In business acumen, you need to come up with the right strategies.  You must know the vision, the mission and the goal of the company.  In order to achieve the objectives of the company, you need to have a strategic plan.  These plans must be effective in achieving the goals, if not, then there is a problem with your strategy.  Make sure that you properly formulate your strategy or else, everyone will die

You must also be resourceful with regards to the resources or finances of the company.  Some people would back-out if they see that resources are not sufficient.   Remember you must use your head when you do things.  You must not waste the resources because it is the life of the company.

Courses like finance for non finance managers are available to help those managers that don’t know a lot about financing.  Finance for non finance managers is a good way to educate those who need it most.  It gives managers the education that they need in order to fully grasp the current trends and ideas with regards to financial matters.

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Get The Competitive Edge From Business Acumen Training

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Have you ever heard some people say that being a businessman is something that you are born with? Saying that business acumen is inborn is very debatable. True enough, there are many success stories of entrepreneurs who made their way to the business world armed only with common sense yet were still able to succeed. Many top salesmen didn’t even reach high school but are now in top executive positions in companies. But nobody could contest that all these businessmen have taken studies, preparation and training, whether formal or informal, theoretical or practical, to be able to arrive at where they are now. Bottom line, you need to have Business Acumen Training to have the competitive edge in this field.

Aside from courses we take in schools, there are programs that teach effective approaches and methods to obtain new clients and keep them. If you have satisfied customers, you are all good. But first, how can you have this relationship with your customer? Here are some tips you can follow:

·         Sell and promote something you believe in – First, make sure that your product or service is guaranteed to make your consumer happy and that it meets all the needs of the client. Check if you yourself are sold on it. Put yourself in the customer’s shoes and correct all its flaws.

·         Keep your active prospects list – Always have your list of contacts available. These are the people you have given endorsements to but have not converted into a sale yet. They may not yet be interested with the product, but you must keep in touch with them and feed them information from time to time. You will never know when they will be interested with your product or service. If that mutual trust is already established, you may even ask for referral business from some regular clients.

·         Respond fast – One key competitive edge is having fast service for a customer. For example, carry mobile forms of communication with you to be able to make fast return calls or e-mails. It will also definitely help if your staff has undergone Teamwork Training, for fast and quality delivery of service.

·         Be innovative – Find time to learn the newest and latest ideas to incorporate in your business. Consumers believe in having lots of information and ideas available, just so they can make the best decision that they possibly can.

If you are really decided on succeeding in business, learn these business tips, apply them and be ready to face exciting changes in your business!

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