Never assume that what you think you know is the unequivocal truth. Doing so often leads decision-makers to overlook crucial data, ignore market trends, or misjudge customer behaviour. Just because it was confirmed last time or last year doesn’t make it accurate today. Relying on outdated information you haven’t bothered to check often backfires, leaving you embarrassed and, in extreme cases, potentially ruined.
Is what you know still relevant? That’s the best question you can ask yourself when confronting a situation you’ve seen or experienced before. Take time to confirm that the information is still the same. Customer expectations change quickly and without notification. Too often, business owners rely on their outdated knowledge of the market rather than listen to their sales or customer service team.
We’ve all fallen into the trap of relying on ‘confirmation bias,’ where we seek information that confirms our beliefs. It feels comfortable; you’re saving time—what’s not to like? Sadly, we are often wrong, and usually, it’s an expensive mistake.
Challenge your preconceptions – do you have updated accurate information, or will you rely on your gut instinct again?
Rather than asking, “Does this information confirm what I already believe?” the question should be, “What information am I missing, and how can I obtain it?”
Start by acknowledging that you don’t have all the answers. It’s better to encourage a culture of curiosity throughout your business. A culture of curiosity is an environment that encourages questioning, exploration, and innovation. It values continuous learning, embraces challenges, and welcomes an open exchange of ideas to drive growth.
Develop a culture that:
Asks More Questions: Cultivate the habit of inquiry. Be willing to ask questions that challenge the status quo and delve deeper into the “why” and “how” of things rather than just the “what”.
Embraces the Unknown: Step out of your comfort zone and explore new topics, skills, and experiences. This will broaden your horizons and expose you to fresh ideas and perspectives.
Active Listens to others: Engage actively in conversations, listening to understand rather than respond. This lets you absorb more from others’ knowledge and experiences, sparking further curiosity.
Have you accepted that you’ll never stop learning? When you do, you’ll take a more dynamic and agile approach to making better business decisions, and success will follow.
