{"id":22529,"date":"2024-08-09T11:00:04","date_gmt":"2024-08-09T09:00:04","guid":{"rendered":"https:\/\/diariodiunconsulente.it\/?p=22529"},"modified":"2024-09-09T10:08:09","modified_gmt":"2024-09-09T08:08:09","slug":"knack-for-business","status":"publish","type":"post","link":"https:\/\/diariodiunconsulente.it\/en\/2024\/08\/09\/knack-for-business\/","title":{"rendered":"Do you have a knack for business? How to discover and develop it."},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\" style=\"font-size: 18px;\"><span style=\"font-size: 14px;\">by <a href=\"https:\/\/diariodiunconsulente.it\/en\/about-us\/\"><span class=\"s2\">Alice Alessandri<\/span><\/a>\u00a0and\u00a0<a href=\"https:\/\/diariodiunconsulente.it\/en\/about-us\/\"><span class=\"s2\">Alberto Aleo<\/span><\/a>.<\/span><br \/>\n<\/span><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\">Having explored the roles of salespeople and leaders in our previous articles, we\u2019ve decided to broaden our perspective and ask ourselves a new question: <i>\u201cAre entrepreneurs born or made?\u201d<\/i>. To answer this, we need to analyse what is usually defined as a \u201c<b>knack for business\u201d<\/b> because there is no doubt that an entrepreneur must have one!<\/span><\/p>\n<h2 class=\"p4\"><span style=\"font-size: 32px;\">The basic requirements of a successful entrepreneur.<\/span><\/h2>\n<p class=\"p2\"><span style=\"font-size: 18px;\">There are many recipes for the <b>perfect entrepreneur<\/b>: a series of ingredients that combined should give us a \u201cruler of the market\u201d with a <b>knack for business<\/b> which allows them to almost always win.<\/span><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\">Granted, we each have a personal idea of <span class=\"s3\"><b><a href=\"https:\/\/diariodiunconsulente.it\/en\/2020\/01\/13\/how-to-give-voice-to-your-values-and-achieve-success\/\">success<\/a>,<\/b><\/span> and we each define our personal <b>challenges<\/b> we want to overcome, but regardless, <span class=\"text-highlight\">to succeed in \u201cthe business of creating a business\u201d, we need a few basic requirements<\/span>:<\/span><\/p>\n<ul class=\"ul1\">\n<li class=\"li2\"><span style=\"font-size: 18px;\"><b>Vision,<\/b> which comes from developing a certain foresight and allows us to see things today which others can\u2019t grasp yet.<\/span><\/li>\n<li class=\"li2\"><span style=\"font-size: 18px;\"><a href=\"https:\/\/diariodiunconsulente.it\/en\/2017\/10\/02\/courage-change-make-decision\/\"><span class=\"s3\"><b>Courage<\/b><\/span><\/a>, a quality that is considered innate and is often confused with recklessness. Instead, it\u2019s strongly related to <b>passion <\/b>and love for what we do.<\/span><\/li>\n<li class=\"li2\"><span style=\"font-size: 18px;\"><b>Charisma<\/b>, which allows us to involve others and direct them towards a common goal. This is all related to knowing how to correctly manage your own and others\u2019 <span class=\"s3\"><b>uniqueness<\/b><\/span>.<\/span><\/li>\n<li class=\"li2\"><span style=\"font-size: 18px;\">Respect for <b>money <\/b>as a form of energy and symbol of prosperity. To become successful entrepreneurs, we need to develop our own <span class=\"s3\"><b>ethics of wealth<\/b><\/span> and overcome our sense of guilt and prejudice related to it.<\/span><\/li>\n<li class=\"li2\"><span style=\"font-size: 18px;\"><b>Resilience<\/b>, i.e., that mix of error culture, flexibility, and patience which allow us to overcome the fear of making mistakes and create the conditions to face the difficulties we have when building an enterprise and helps us learn from our mishaps.<\/span><\/li>\n<\/ul>\n<p class=\"p2\"><span style=\"font-size: 18px;\"><span class=\"text-highlight\">We believe that if even one of these ingredients is missing, there is no <b>knack for business <\/b>that holds up<\/span>: there will be an inevitable collapse of our chances of success in our entrepreneurial adventures.<\/span><\/p>\n<h2 class=\"p4\"><span style=\"font-size: 32px;\">From a knack to a sharp mind for business.<\/span><\/h2>\n<p class=\"p2\"><span style=\"font-size: 18px;\">If the elements we have seen in the previous paragraph constitute a springboard to become <b>entrepreneurs<\/b>, the drive that will allow us to successfully dive into the market is based on the highly acclaimed<span class=\"text-highlight\"><b> knack for business<\/b>. So, what is it? How do we develop it?<\/span><\/span><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\">As in previous cases, there are many ideas on the topic, but most authors agree on the importance of 3 main points:<\/span><\/p>\n<ul class=\"ul1\">\n<li class=\"li2\"><span style=\"font-size: 18px;\">Being able to read <b>market trends.<\/b><\/span><\/li>\n<li class=\"li2\"><span style=\"font-size: 18px;\">Knowing how to meet <b>unsatisfied needs.<\/b><\/span><\/li>\n<li class=\"li2\"><span style=\"font-size: 18px;\">Coming up with <b>new sources of profit.<\/b><\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-22536\" src=\"https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/08\/knack-for-business-passodue-alice-alessandri-alberto-aleo.jpg\" alt=\"knack for business\" width=\"1921\" height=\"1080\" srcset=\"https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/08\/knack-for-business-passodue-alice-alessandri-alberto-aleo.jpg 1921w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/08\/knack-for-business-passodue-alice-alessandri-alberto-aleo-300x169.jpg 300w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/08\/knack-for-business-passodue-alice-alessandri-alberto-aleo-1024x576.jpg 1024w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/08\/knack-for-business-passodue-alice-alessandri-alberto-aleo-768x432.jpg 768w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/08\/knack-for-business-passodue-alice-alessandri-alberto-aleo-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1921px) 100vw, 1921px\" \/><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\">Let\u2019s now analyse these 3 elements by defining them. This will help us broaden the concept of a <b>knack for business<\/b> and turn it into a \u201c<b>sharp mind for business\u201d<\/b>: in a world as complex as today\u2019s, in fact, <span class=\"text-highlight\">we need to combine instinctive and cognitive human skills<\/span>.<\/span><\/p>\n<h3 class=\"p4\"><span style=\"font-size: 24px;\">Market trends.<\/span><\/h3>\n<p class=\"p2\"><span style=\"font-size: 18px;\">The ability to read <b>market trends<\/b> is not innate and mustn\u2019t be confused with pure intuition, as many entrepreneurs mistakenly believe. Instead, it\u2019s especially related to detecting and <a href=\"https:\/\/diariodiunconsulente.it\/en\/2018\/07\/02\/data-analysis\/\"><span class=\"s3\"><b>analysing data<\/b><\/span><\/a>, developing curiosity, learning, reading, and listening. To train this ability, we need to have the courage to <b>get out of our comfort zone<\/b>, leave our convictions behind, and face <b>change<\/b>. There are entire disciplines dedicated to this. One of these is <a href=\"https:\/\/vbn.aau.dk\/en\/publications\/the-potential-of-design-driven-futuring-to-support-strategising-f\" target=\"_blank\" rel=\"noopener\"><span class=\"s3\"><b>Foresighting<\/b><\/span><\/a>, which teaches you not only to read trends in a more structured way, but also to plan the future rather than predict it.<\/span><\/p>\n<h3 class=\"p4\"><span style=\"font-size: 24px;\">Meeting needs.<\/span><\/h3>\n<p class=\"p2\"><span style=\"font-size: 18px;\">Many marketing experts are still convinced that you can create needs, as if companies were able to artificially generate them. The examples used to support this claim include successful products that previously didn\u2019t exist and are now a \u201cmust have\u201d, such as the smartphone. Actually, the desire to communicate and to connect have always existed, so it\u2019s more about <b>meeting these needs<\/b> and shaping them into a new product. To develop this skill, you need to observe others, study their needs and the motivations behind their purchases, in other words, the material and psychological aspects of their choice. How can we train this skill? Why not join our training day <a href=\"https:\/\/diariodiunconsulente.it\/perche-i-clienti-ci-dicono-di-si\/\">\u201cWhy do customers say yes?\u201d<\/a> on the <b>11<\/b><span class=\"s1\"><b><sup>th<\/sup><\/b><\/span><b> of October 2024.<\/b><\/span><\/p>\n<h3 class=\"p4\"><span style=\"font-size: 24px;\">New sources of profit.<\/span><\/h3>\n<p class=\"p2\"><span style=\"font-size: 18px;\"><b>Turnover and profits <\/b>are the terms an entrepreneur mainly focuses on to assess the wellbeing of the company or to decide whether to invest. Although this is an important aspect, we often overlook a simple consideration: in order to receive, you need to first give! We call it the <b>law of reciprocity<\/b>, but it\u2019s actually not far from being the simple principle of action and reaction in Physics. To transition from a <b>knack for business <\/b>to a <b>sharp mind for business<\/b> we need to consider that profits and turnover are the result of <i>what, how, when<\/i>, and <i>who<\/i> we invested our resources on. Therefore, we need to flip our perspective and find an answer to the question \u201cWhat can I offer the market in order to achieve the economic results I expect?\u201d.<\/span><\/p>\n<h2 class=\"p4\"><span style=\"font-size: 32px;\">When a knack for business isn\u2019t enough.<\/span><\/h2>\n<p class=\"p2\"><span style=\"font-size: 18px;\">Be it a knack or a sharp mind for business, at times neither is enough to ensure the success of an entrepreneurial initiative. The graveyard of business is full of great ideas that never made it. What are the reasons for these failures?<\/span><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\">First of all, there are <b>external factors<\/b>, out of the control of a single market operator, which determine the success of failure of a business.<\/span><\/p>\n<hr \/>\n<blockquote>\n<p class=\"p2\"><span style=\"font-size: 21px;\"><i>Failure doesn\u2019t mean you need to question your skills. On the contrary, your chances of future success will increase thanks to your accumulated experience and the awareness of those previously overlooked factors.<\/i><\/span><\/p>\n<\/blockquote>\n<hr \/>\n<p class=\"p2\"><span style=\"font-size: 18px;\"><span class=\"text-highlight\">However, there are a few aspects that should be monitored<\/span> to avoid trouble.<\/span><\/p>\n<h3 class=\"p4\"><span style=\"font-size: 24px;\">Taking care of your network and educating it.<\/span><\/h3>\n<p class=\"p2\"><span style=\"font-size: 18px;\">Ideas need consensus to succeed, so you\u2019ll need a wide network of people who support your endeavours. Take care of your relations, internally and externally, by infusing them with <b>trust<\/b>, <b>respect<\/b>, and <b>ethics<\/b>. If you are real market leaders, able to anticipate trends, shape needs in a new way, and come up with new and innovative ways to invest and to profit, you might have developed a vision which is so advanced that it might be misunderstood. It is, therefore, fundamental to educate your listeners, bridging the <b>information gap<\/b>, picking their prejudices apart, and helping them metabolise the change you are promoting. The difference between a leader and a follower often lies in this ability to educate the market as opposed to being educated by it.<\/span><\/p>\n<h3 class=\"p4\"><span style=\"font-size: 24px;\">Keeping the pace.<\/span><\/h3>\n<p class=\"p2\"><span style=\"font-size: 18px;\">The \u201ctime to market\u201d is the period between the entrepreneurial idea and the product or service launch. Managing this appropriately doesn\u2019t mean you need to <b>rush<\/b>, get there first at any cost, or cut corners. Instead, try to keep a steady pace, observe both the market and your own company\u2019s dynamics, and try to understand whether the people who are going to take part in the enterprise are ready or not, be they clients or partners.<\/span><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\"><span class=\"text-highlight\"><b>Time is a fundamental factor of success<\/b> or failure<\/span>, and it is more of a <b>qualitative <\/b>than a quantitative<b> <\/b>aspect. Have a look at our advice in <a href=\"https:\/\/diariodiunconsulente.it\/en\/2022\/01\/17\/2022-time-to-change-your-pace-and-not-necessarily-your-goals\/\">this article<\/a> on the topic.<\/span><\/p>\n<h3 class=\"p4\"><span style=\"font-size: 24px;\">Going beyond zero-sum thinking.<\/span><\/h3>\n<p class=\"p2\"><span style=\"font-size: 18px;\">A while ago, we reposted a very nice article on <a href=\"https:\/\/www.facebook.com\/passodue\/posts\/pfbid0PAgiLmzqe3Cxy6rHNzodNZsYhHar99E7xxN2kSnLo8vUGZ1V5bsA36dLS9r7nESpl\" target=\"_blank\" rel=\"noopener\"><b>Passodue\u2019s FaceBook<\/b> page<\/a>. The article explained how many market operators haven\u2019t been able to internalise John Nash\u2019s idea that the best results are achieved not by solely generating advantages for yourself, but also for others. According to the author, the <b>biases<\/b> that prevent us from adopting this approach are primarily cultural: we are convinced that negotiations are a <b>zero-sum game<\/b> where one wins and the other loses and that we should especially focus on <b>short-term results<\/b>.<\/span><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\">A successful business needs to overcome the limitations of this vision, accepting the idea that if others win, the chances of you winning increase rather than decrease! Furthermore, the idea that immediate gain is better than future gain is once again short-sighted. The past, the present, and the future are interconnected and separating them will spell doom for your business.<\/span><\/p>\n<p><em><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-22521 size-full\" title=\"viaggiare\" src=\"https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/07\/viaggiare-fiuto-per-gli-affari.jpg\" alt=\"fiuto-per-gli-affari\" width=\"1920\" height=\"1297\" srcset=\"https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/07\/viaggiare-fiuto-per-gli-affari.jpg 1920w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/07\/viaggiare-fiuto-per-gli-affari-300x203.jpg 300w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/07\/viaggiare-fiuto-per-gli-affari-1024x692.jpg 1024w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/07\/viaggiare-fiuto-per-gli-affari-768x519.jpg 768w, https:\/\/diariodiunconsulente.it\/wp-content\/uploads\/2024\/07\/viaggiare-fiuto-per-gli-affari-1536x1038.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/em><\/p>\n<h2 class=\"p4\"><span style=\"font-size: 32px;\">A knack for business: develop it by travelling.<\/span><\/h2>\n<p class=\"p2\"><span style=\"font-size: 18px;\">While writing this article, the last before our summer break, we are in Sweden for our second year of work and exploration in this country. As our readers know, our philosophy is based on <b>contamination <\/b>and openness to new cultures and ideas. This has allowed us to do <b>research<\/b>, develop new models, and extend our market beyond the borders of Italy.<\/span><\/p>\n<p class=\"p2\"><span style=\"font-size: 18px;\">If we had to summarise everything we suggest in this article in a single piece of advice, it would be as follows:<\/span><\/p>\n<hr \/>\n<blockquote>\n<p class=\"p2\"><span style=\"font-size: 21px;\"><i>If you want to be an excellent entrepreneur and develop a knack for business, travel, leave your familiar horizons behind you, meet new people, and make space!<\/i><\/span><\/p>\n<\/blockquote>\n<hr \/>\n<p class=\"p2\"><span style=\"font-size: 18px;\">See you in September. Have a great summer.<\/span><\/p>\n<pre>| partem claram semper aspice |<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Having explored the roles of salespeople and leaders in our previous articles, we\u2019ve decided to broaden our perspective and ask ourselves a new question: \u201cAre entrepreneurs born or made?\u201d. To answer this, we need to analyse what is usually defined as a \u201cknack for business\u201d because there is no doubt that an entrepreneur must have one!<\/p>\n","protected":false},"author":6,"featured_media":22513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[91,85],"tags":[],"class_list":["post-22529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-ethical-leadership","category-abilities","entry","has-media"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v15.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Do you have a knack for business? 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