Making Good Business Decisions
Making good business decisions requires the right perspective. Are you looking at the situation from the inside out or the outside in?
- Inside out thinking is subjective and leads to bounded rationality
- Outside in thinking adds objectivity and produces lateral thinking
© Outside In Thinking Model – Distinctions Consulting
Outside in thinking is the best starting point for making sound decisions and creating effective growth strategies. It places the focus on the external environment and considers the factors that impact you and your company in both positive and negatives ways – allowing you to react and take advantage of each opportunity to achieve greater results.
What you think about your company is great, and an important part of how you communicate. However, it is what those around you think that really informs you of where you are at, and guides your business towards the future.
To remain relevant in the market place and add value to your customers you must ask insightful questions and really listen. The right question, with the right focus, brings objectivity and grounds you in what is and what can be versus the narrow focus of what you want.
What is your thinking style?
Some people are natural outside in thinkers, but most of us have to work on it. A good example of this in practice is how you approach people within your network. Do you really understand what ‘business’ your contacts are in? What their motivations or goals are? If you haven’t asked, what you think you know is only an assumption informed by your inside out perspective. It is likely that you spend a lot of time having senseless cups of coffee and never connecting with people that will make a difference to you or your business. If you aim to leave with the understanding of how you can help someone in your network grow their business, you are ten times more likely to encounter the reciprocity you seek.
Keep Focused…On the right things!
Gain a broader perspective on how to grow your business, plan more effectively and objectively by inspiring an Outside In questioning approach that will ensure you are focusing on the right things. Asking questions based on the strategic decisions you need to make will help keep you focused.
Questions to encourage Outside In thinking:
- What is it that people really value about our company, product or service?
- Do we really understand the needs and priorities of our customers, have they changed?
- What are the trends within the industry?
- Is there more or less competition or are there new alternatives?
- How much of what we are doing right now is making us money or improving our competitive position?
- Is the value we are creating measurable?
- Do we have the systems and people in place to deliver on meeting these needs?
- How does this impact our long term goals?
We would love to hear some of your key questions!
Author: Dayna Caceres