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Do You Really Know What’s Going On?

Like a greyhound with blinkers on, we run headlong toward our goals as businesses. Sometimes, it really does matter about the bottom line and meeting targets to stay afloat. Yet, do we focus too much on our goals? Well, let’s look at it another way. Do you focus on the goals you set, for your business only? This could mean you don’t take into account what is happening all around you. Industries are interlinked as well as, fields and sectors in industries. There’s a lot of things occurring around and to your business, that should affect your outlook. It’s hard to hear, that you need to adjust your targets to the world and not to your specific wishes. But, that doesn’t mean altering your goals or your convictions, it just means you are able to adapt to anything that might try to destroy your path to them. Consequently, this means you need to know what’s really going on in your industry.

Attend related conferences

You should be going to conferences that are for and about your industry. For example, if you work in the automotive industry, you should be going to conferences about electric car technology and how the future of the roads will look like. However, to compliment this you should also be going to battery technology conferences. Of course, a large portion of the electric car conferences will be about batteries, but it will only be for a segment, and then it will move onto safety, car design, recharge ports etc. The battery technology conference will talk about designs, costs, manufacturing, prototypes, research, materials, safety and much more, just on batteries themselves. You’re staying ahead of the curve when you attend related conferences to your field and sector in your industry.

Grab the data

Companies that are in the business of collating and understanding data, pass on their knowledge by lots of means. One of them is the Microsoft Power BI software, where lots of data is shared among everyone with access. Your employees should receive Power BI training to make good use of your own business’ data and the various studies and statistics in your industry. Grab the data from a consumer age trend, and see how you could improve sales with the young and the old. Equally, you can see in bar and pie charts, as well as graphs how your social media campaign is being received. Your pay-per-click ads and who is clicking on them can be pictured in the software also. It lets you know what is really going on in your business as well as the surrounding factors that affect the way you do business.

Get a mole

Networking is part and parcel of being in business. Getting to know people that have similar outlooks as you and working in different industries is a breath of fresh air. If you can make good friends with such people, they could be your mole in the company they work for and the industry itself. Having conversations about how something failed or is succeeding, could give you the knowledge to avoid failure and receive better traction toward your goals.

Do you really know what’s going on in your industry? Chances are, that you keep to yourself and stay involved with things only directly associated with your type of business. This isn’t a strategy that will work, you need to keep yourself and your employees abreast of what is going on in other industries too, so nothing takes you by surprise when it reaches your field and sector.

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