Check out Episode 58 of Canada’s The Yakking Show as we share 5 Tips for Capitalizing on the Unknow!

To capitalize on the unknown we’ve learned to start from the heart and to let our passions drive our purpose and progress through talent mastery and focused effort. We embrace and work through the unknown to find new avenues and niche markets.

#1. Love What You Do

Finding passion through individual talent is a great motivator and key to finding success.  A strong desire provides a foundation for the development of new skills that can improve long-term personal and professional growth. Passion can also lead to unknown opportunities.

#2. Be Smart-Lifelong Learning

Technology plays a significant role in leveraging business. That means learning never stops because technology is always advancing and changing. In addition to using passion and talent to define purpose, lifelong learning supports talent mastery and focused effort along with higher-order thinking so crucial in seeking out new opportunities.

#3. Build and Nurture Relationships

To build and support relationships there must be trust.  With a willingness to place individual needs aside for collective goals cooperation becomes an essential element in creating trust with partners. Cooperation requires collaboration and working things out to the benefit of both parties. By focusing on the result, members of an alliance can better share both tangible and intangible resources that also continue to build relationships and unknown opportunities based on trust. Active listening helps with this process.

#4. Have a Great Product, Be Accountable

Clients want to be confident that products and services are reliable. Providing value by being available and giving clients more than what they expect supports a positive experience, especially when things go wrong. Clients are influenced pre, during, and after their purchase experience. In addition to always providing a great product and service, over-deliver. Provide value through each stage by being present, aware, and reliable. Sharing your company’s expertise as it relates to your products and services adds value and promotes customer loyalty. When challenges do arrive, they need to be solved quickly by being present and listening to the client to implement the best solution. Cooperation and assistance among supply chain members to remove or mitigate problems help to build relationships through appreciation. Client appreciation improves customer loyalty with feedback that supports new opportunities through innovations.

#5. Know Your Numbers

Understanding whether increasing revenue through sales, reducing cost, or using both will add the greatest value to an organization’s bottom line is easy. Setting up solid accounting practices to review money coming in and going out allows you to fine-tune all purchasing decisions to ensure efficiency, the cornerstone of any successful business.

Setting industry-related sales goals like increasing total sales within a specific time period will help to grow your business. Once established, a sale’s goal can be used to track performance indicating whether more sales effort has to be done or if a product/service is just obsolete. Knowing your numbers is often ground zero to developing innovation in product differentiation.