By Dr Hannah Yang
Building a business from the ground up takes courage and determination. It also requires having adequate resources in place and the backing and support of a great team. But what about the intangibles that help you become a better boss and business owner? We’re talking about intuition.
Having intuition when it comes to running a business can be an invaluable asset. It can be used for planning and strategy development and also help you tackle the tough challenges that always come up as your business begins to grow.
What Exactly is Intuition?
Most people have heard of or used the term intuition in and outside of business settings. But what is it really?
The easiest way to describe someone’s intuition is to refer to the gut feelings all individuals have, which are especially evident during high-stress or contemplative moments in life. Our intuition is the unexplainable feelings individuals have when met with important decisions, much like the “fork in the road” metaphor.
Intuition involves the ability to recognize certain patterns or make connections that are sometimes hard to explain or may not even be actively noticed on a conscious level. The interesting thing about intuition is that it is often defined by one’s life experiences, including the mistakes one has made or the successes one has had.
However, there is a distinction when comparing intuition with instinct. Instinct is something that is hardwired into the brain – like pulling your hand away automatically from a hot stove. Intuition on the other hand, can happen without even knowing how or the reasoning behind it. Still, when used effectively, it can become an important tool that can be used to make better decisions in life and in business.
Why Intuition Matters in Business
The idea of using intuition in business-related matters isn’t always viewed in the right light. Many people might think that running a business by “gut feeling” doesn’t match the effectiveness of using historical data and analysis to drive your decisions.
However, there is a flip side to every equation, and only using proven data to make your business decisions can be counterproductive while limiting perspectives and leading to less profitable outcomes.
Below are some of the reasons why intuition is important to use in business applications:
Leads to More Innovative Ideas and Solutions
Although looking at historical information can be helpful when learning from the past, this information doesn’t always guide each step you take in the future. Data analysis on its own doesn’t spark creativity the way intuition can.
By blending intuition with historical data, business owners can be inspired by fresh ideas and are more likely to introduce new solutions for tackling problems.
Helps to Identify New Opportunities
The great thing about intuition is that it can keep you alert to new opportunities on the horizon. By paying attention to various cues or discerning patterns, businesses don’t necessarily need to wait until industry data reports are released to make important shifts in their business direction.
Guides Your Decisions in Unpredictable Situations
As a business grows, it’s often faced with any number of difficult challenges it needs to address. Many of these situations may not have a benchmark for success and need to rely on new information to make informed decisions.
Intuition helps in this area by allowing a business to stay agile, with leaders trusting their guts to help them make the most informed decisions they can at the time.
Developing Your Intuitive Skills
Just like all skills you develop in life, intuition can be strengthened and improved over time. While life experience is hard to replace as one of the most effective ways to improve intuition, there are some practical tips you can follow that will help you develop a deeper connection with your internal compass:
- Mindfulness and Meditation – Learning how to practice mindfulness throughout the day or spending time to meditate can help you eliminate the “noise” of everyday life. It’s in these moments you are often able to have more awareness about subtle thoughts or feelings you might be having on a variety of things.
- Paying Attention to Your Body’s Signals – Considering how busy it can be when running a business, you can sometimes lose track of the cues your body is trying to give you. Learn how to pay attention to signals in intuition that can help you choose the right path forward in various situations.
- Creating a Space for Quiet Reflection – Strengthening your intuition goes hand-in-hand with improving your mental well-being. Finding a safe space to reflect, whether by yourself or even when going through counseling or attending therapy sessions, can be a great way to hone your intuition.
- Learning How and When to Trust Your “Gut” – Unfortunately, your intuition isn’t something you can switch on and off. It can take time to understand how your body and mind respond to different situations. Allow yourself time to learn how and when to trust your gut, then see where it leads you.
Integrating Intuition with Traditional Business Strategies
In business settings, only following your intuition isn’t necessarily a recipe for success. Applying your intuition to traditional business strategies requires a balanced approach. When done correctly, infusing certain elements of intuition when planning initiatives or following through on objectives greatly enhances the work you’ve already done.
Here are a few ways this can be done:
Validating Ideas
Sometimes, what looks good on paper doesn’t always pass the “gut check.” While this doesn’t necessarily mean a business initiative is wrong, it can mean there are some important details missing that make you feel uneasy about moving forward.
Use this feeling to help you validate new ideas and make sure that you are doing enough research to identify and leverage all the opportunities in front of you.
Identify Potential Risks
Your intuition can be an invaluable early warning system if something isn’t quite lining up in your business. It can help you to avoid costly mistakes or going down the wrong path that could waste time and resources for the business.
Take the time to explore why you’re having reservations, and never be tempted to cut corners when you truly feel like something is off.
Refining Business Strategies
All business strategies can be gradually improved over time when new information is presented. Having a sudden hunch about a new product feature or subtle changes you’re noticing in market conditions can be a sign that it’s time to adapt strategies you’ve had in place for some time.
When these feelings come up, it’s a good idea to explore them and never be afraid to reinvent the wheel in areas that make sense to help the business grow.
Start Applying Intuition In Your Business
While intuition on its own isn’t enough to make a business successful, it can be used to significantly improve its efficiency. By not being afraid to listen to your gut and balancing your own feelings with proven data and evidence, you can create a much more holistic strategy to help your business succeed long-term.
Author Bio:
Visionary and healthcare entrepreneur by passion, Licensed Psychologist by training, Dr. Hannah Yang loves creating new possibilities in the world of mental health and wellness. Dr. Yang established Balanced Awakening in 2015 as a niche psychotherapy practice for women. As Balanced Awakening flourishes in Chicago, and soon Miami, she also loves to tap into her passion for design and Feng Shui to create fabulous environments for herself, her team, and clients.
