June 8, 2016
Five reasons why gut feelings matter
By Achim Neumann
Many business leaders have made decisions that they have regretted at a later date. On the surface, logical analysis suggested that it would be a smart play, but their inner voice felt that something was amiss.
Some may dismiss them out of hand, but there is a lot of evidence to suggest that so-called gut feelings aren’t just real, but they should also occupy a prominent position in every entrepreneur’s toolkit.
In this article, we will discuss five reasons why gut feelings matter, and how they can make a difference in any business…
1) They fill the gap of incomplete information
It is almost impossible to have all the facts available when an important decision has to be made. In virtually all high-risk, high reward situations, there is an element of the unknown that must be embraced.
In the absence of certain facts, gut feelings can help protect a company from making a potentially disastrous misstep, or it can nudge it in the direction of a deal that will likely have a long term payoff for everyone involved.
2) They can sniff out unsavory and dishonest characters
As rewarding as the business world can be, there are a lot of pitfalls along the road to success. While many are in business for the right reasons, there are plenty of bad actors looking to take advantage of every “sucker” they happen to come across.
It’s impossible to know the past history of every person looking to strike a deal, so it often comes down to what an entrepreneur thinks of a person, which is often based on the feeling that they are getting from them.
If they are acting shifty and seem to be hiding an ulterior motive, this bad gut feeling can be legitimate grounds for deciding to not enter into a business arrangement with a particular individual.
3) They are a highly productive engine of creative ideas
The logical and analytical side of the mind is great at what it does, but one thing that it struggles with is coming up with creative ideas.
When it comes to conceiving ideas that the world has not seen before, the gut feelings that lie within every capable business person is where they are generated.
The creative part of the mind is amazing at coming up with patterns that are likely to find resonance with certain sets of the population, so don’t be afraid to trust what it comes up with (so long as responsible analysis is done before implementation)
4) They shine when swift decision making is required
If only all decisions in life came with the requisite amount of time to make them properly. Many crucial choices have to be made at a moment’s notice; it is at these times when an entrepreneur’s intuition comes into play. A successful entrepreneur usually gets to where they are by listening to their gut. It’s important not to lose this 6th sense.
About A Neumann & Associates, LLC
A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or firstname.lastname@example.org