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Business decisions vs. the status quo
Whether you’ve got an MBA or you’re a business newbie, you likely make decisions using two forms of knowledge:
- The sum of your experience (the past)
- Foresight and gut-instinct (the future)
Both of these can help you answer those looming questions: Will my customers benefit from email marketing? Should I outsource my accounting? Does Winnipeg need another sushi restaurant?
Unfortunately, relying heavily on #1 to make decisions can be dangerous. Seth Godin once said, “Just because you made money doing something a certain way yesterday, there’s no reason to believe you’ll succeed at it tomorrow.” Industries are constantly changing, so happiness with the status quo (the way things are right now) is risky. Just ask the music industry big-wigs about mp3s and record sales.
Your safest plan is to reinforce #2 with as much research as possible. Listen to your market, your customer, even your critics. Focus on your strengths and leverage them. With a robust understanding and knowledge base, you’ll be able to adapt for the future and make profitable business decisions.
If you’d like to talk more about business and marketing for the future, give me a call at 204.237.8514.
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