Insight – the capacity to gain an accurate and deep intuitive understanding of a person or thing.
Insight comes from a lot of places in today’s business world and gaining it can make all the difference. In the past people turned to history and old books regarding economics, finance, or marketing for solutions to their business challenges. This was effective for a period of time, but as the years went by everyone began to catch on and with all of the players using the same strategy, no one gained an edge. But all of that has changed in today’s competitive business environment. Economists have turned to mathematical analysis and computer programming for forecasts. Portfolio managers have used pattern recognition and neural networks for designing trading strategies. Marketing managers even delve into psychological aspects of how the brain responds to different mediums to connect with buyers.
There are no limits when it comes to insight. I think part of the intrigue comes from making new discoveries and taking the mind outside of the norms of business. The biggest hurdle with gathering insight is applying it effectively and in a manner that both innovates and simplifies your strategy. The fact is, if you’re not thinking outside the box, you’re probably falling behind. My advice, always keep an open and creative mind as you work. You never know what just might click.
Be on the lookout for more business and finance knowledge at cultivatedinfluence.net, if you like what you see add me on Facebook, follow me on Twitter (@AlecFetterer), or connect with me via LinkedIn.
-Money Never Sleeps