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  • Writer's pictureDr Raewyn Sleeman

Making Smart Choices: How Your Daily Business Insights Lead to Better Decisions


Let's talk about whether it's smart to use your everyday observations in business decisions. According to a 2000 study by Greenbank, there's a valuable lesson for business owners: often, the best decisions start with what you observe and learn in your everyday business activities.


Your Everyday Business Experiences Are Crucial


You have a unique view of your business and customers. This insight is important. Often, what you learn every day is more helpful than big market research or complicated data studies. These can be complex and easy to misunderstand.


Making Better Decisions with What You Know


Learning from Your Customers: It's important to understand what your customers want and listen to their feedback. Be open to changing how you run your business to meet their needs. Stay curious and open-minded to better serve your customers.


Improving Your Shop and Online Presence: The look and feel of your shop and your website matter a lot. Watch how customers interact in these spaces. Even small changes can help attract and keep more customers.


Staying Competitive: Know what your competitors are doing and how the market is changing. Adapt your business to show customers you're up-to-date. Change as needed to keep up with customer needs and stay ahead of competitors.


Using Your Business Knowledge Wisely


Your daily interactions with your business and customers give you a special advantage. They help you make informed choices that align with your business goals. Your direct experience is a valuable tool in decision-making.

Continuous Learning: The Key to Success


Constant learning is important for growing your business. Whether it's through your work with customers, reading blogs like this, attending workshops, or using resources like the Marketing Strategy App, using what you learn every day can greatly improve your decisions.

Keep applying your daily business experiences and learning new things to guide your business to success.


 

Source: Greenbank, P. (2000), "Training micro‐business owner‐managers: a challenge to current approaches", Journal of European Industrial Training, Vol. 24 No. 7, pp. 403-411.

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