In business, the most valuable commodity is information
In business, the most valuable commodity is information, especially if the information is not widely available. Executives need useful, accurate and timely information in order to make good business decisions. The whole industry of information technology is based on this fact.
As a player, you will have to access a whole lot of information. There’s real time data on your enterprise and everyone else’s. There’s annual financial accounting statements. There’s information on the economy including statistics, charts, diagrams and maps. There’s news of events, press releases and analyses of markets and businesses by players. And there’s market research reports, information that can be used to spot trends and opportunities.Another way information can be offered is through seminars, conferences, and networking events such as business luncheons and dinners. An example: Just recently I was in Australia at a business conference and was invited to attend a First Ladies luncheon in Sydney. These luncheons are held specifically for business women. The guest speaker was a woman named Faye Kotsis, an expert and a pioneer for women breaking into the competitive real estate development market. She gave an informative speech about the real estate development market, however what really caught my attention were her anecdotes about being a woman working in a male dominated field. I exchanged business cards with a number of women who attended the luncheon. Perhaps some of these networking connections will pay off in the future.
You may also want to discover information on reputation, reviews, background, and general public opinion. Management will often provide this information, especially if it increases the likelihood of a transaction. For example, Charles H Greenthal Management manages buildings in NYC and will be responsible for information regarding apartments, rentals, purchases, pricing and availability.
Simple searches for the product or service will often reveal information on the reputation of the business. Add ‘reviews’ or ‘problems’ or ‘scams’ or ‘complaints’ to the search to find issues. Check out RipoffReport.com to see if there are complaints lodged with this site regarding consumer fraud and other complaints.
In some cases, direct queries to the corporate communicators, customer service departments, or press office will be productive. Most legitimate companies have no problems answering questions.
Usually, information is available to anyone who is willing to put in a little effort. It’s almost always better to act on information rather than on intuition, and what others have experienced can be a valuable resource to anyone looking for guidance. Make wise decisions – seek and then use information.
There are many people who will blindly act on intuition rather than taking into account all the information at their disposal & making a logical decision. I can’t speak to the effectiveness of this for all of them but I have tried going on my gut feeling rather than the information at hand & the times that I have it did not work out too well for me. Some people do feel they are better suited to the psychic ability than others & maybe that is true. Maybe it is possible to be naturally gifted in these things. Maybe it is even possible to exercise such an ability to nurture it & make it stronger. I do not presume to know but I do know that for me it is always better to analyze the facts & make my decision based upon those facts rather than what feeling I have in my gut. I carry around Tums just for that reason…