Insights | Oberlander & Co

Is It Okay To Trust Your Gut Feeling In Business?

Written by Jacob I. Oberlander, CPA | February 1, 2022

Is It Okay To Trust Your Gut Feeling In Business?

 

We have seen business owners making important decisions using their gut feeling and intuition to help them decide.

 

For example, you may decide, “I feel like we are short staffed, therefore we are going to bring a new team member on board”. Is this the right approach? Should you trust your intuition without having factual data?

 

 

To start , you should never under-estimate your gut feeling. A well honed business instinct will take you far if you use it correctly. A better question to ask is, should I rely on my instincts alone? In other words, do I need detailed data in addition to my gut feeling?

 

When you are new in your business, you don’t have all the information in a data format yet. You may have no choice but to rely on your instincts.

 

However, as your business begins to grow, especially when you add a team, your instincts alone will no longer work for you since you are no longer fully in control. At this stage in your business, your gut feeling may actually deceive you. 

 

Your data will now play a pivotal role in your decision-making process. Your business metrics become the control center that keeps everyone in alignment; and your budget becomes a measuring stick for understanding where you stand at any one time, and tell you if you are ahead or behind.

 

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