These days there is so much fuss about making data based decisions. When should gut feelings come into play in decision making?

Let's start with the assumption that you know your business cold. If that's the case, go with your gut every time.

Here's why: Whether you're running a big or small business, you must know it inside and out - you know every business process and the needs and wants of your people, the strengths and weaknesses of your sales team and, most important, the sales and profit contribution of your key customers. You're in touch with those customers and know why sales went up or down before you see the numbers from your finance team, accountant and IT department. Month and quarter end numbers don't surprise you because you monitor KPIs on your executive dashboard daily. When you notice a questionable number on a dashboard or financial report, you dig deeper to ensure you understand it. Finally, you have a vision for where you want to take your business. If all that's true, you can make gut decisions without having to look at reams of numbers which you already understand and experienced first hand. If you don't trust your gut something's wrong. If that's the case, call a consultant like me to help you figure out why.

Answered 4 years ago

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