When Not to Trust Your Gut Feelings in BusinessYogesh Choudhary
Do you trust your instincts in business? Or you give preference to data-driven analytics when making a decision? There should be a limitation to both the ideologies when it is all about business.
“Intuition” or the “gut” is considered as one of the most influential emotions. There have been instances when influential entrepreneurs have advocated to trust such a feeling. The fact that we often trust our gut or the gut feeling is a common phenomenon. Many people can relate to the accuracy of the same if they have ever surrendered to their gut feeling.
The people who have experienced the same know the feeling. It generates somewhere from within and continuously prompts us to walk towards a specific direction. Such an idea can blossom on any conflict as simple as choosing a brand over the other, or it can help you take an important decision whether to take a job opportunity or not.
But what if you trust your gut in business? Is it fair to go with it for your business decision or should you battle it back down to the root? If you are feeling clogged or wishing to go on an enthralling journey to know the answer, I invite you to this enticing ride.
Let’s get rolling!
There is no denying of the fact that the unconscious mind has all the information about what is going in and around us. That is how we dream of everything that is related to us. The gut and the mind work in sync when we are to take an important life decision. But what if you are to make an important business decision? Is it fair enough to trust your gut feeling for taking the next big business step? The answer may vary depending upon the situations around you.
Let’s Have a Look at all Those Circumstances when it May Get Risky to Trust your Gut Feeling in Business.
Situation 1: Intense Time Pressure
Intense pressure following any important business-related work may lead the human brain go with a decision that is not at all favorable. The hurry to wrap up even a critical business decision could prove to be a hindrance in the growth of the business. In such situations, it is ideal to be analytic and believe on the stats rather than trusting the gut feeling.
Business decisions need to be a mature outcome of various data-driven results that the business has produced over the years. Real-estate agents present the best example of such a situation. They are known for “forcing” people to take an important decision within a short timeframe making a lot of people become prey to their tactics.
Situation 2: The Psychology of Reaching To A Decision Immediately
Human beings have a natural tendency to reach decisions as soon as possible. The desire for closure sometimes paves a path that is not ideal to walk typically on matters related to the business. So, instead of taking the business decisions in one go, structure a process that allows you to rethink and strategize the decisions.
Give it ample time and think about all the evens and the odds of the effect that your decision may have on the business. It is alright to take time to negotiate on your thoughts. After all, it is about the most significant decision related to the business.
Situation 3: Trusting The Gut Feeling More Than Rationality
Our gut feeling is generally based on the emotions and the things that typically influence us. It is alright to trust your feelings, but the things may not remain the same if decisions are related to the business.
Being rational may help choose a better strategy for the business. It is not that being logical outsmarts your feeling every single time, but it is at least safe to adopt a decision that is based on data rather than on emotions.
Situation 4: Being Confident Doesn’t Make You Right
Gut feelings are the result of being confident. A strong analytic thought process is something that undergoes every human being. Trusting these vibes to a great extent is not risky but things may go south many times. Being confident at anything is a great personality sign but when it is about business, being logical becomes the most important.
Do trust your gut feeling and the confidence that comes around but being logical equally makes sense. Business decisions are something that decide the future of a company. The domain of the business surely doesn’t matter. Therefore, it needs to have the right balance of the analytics and your gut instincts.
They say knowledge is power when it comes to decision-making. And why being ignorant of the facts and the figures that your business has generated over the years. Gut feeling does tell you a lot about what is right and wrong but taking business decisions based on the same may have consequences of its own.
Many scientific studies have claimed gut feeling to be the result of unconscious being watching the things happening around us. Doesn’t it makes sense go with your conscious and take advantage of the data that the business keeps on generating?
Do think about it!!