Business acumen definition: What is business acumen in a sentence? Business acumen is simply the keenness and speed in understanding and adjusting with a business condition in a manner that is likely to lead to a good outcome.

Things are actually changing. Even the business acumen skills set for success in sales are said to have changed. And now, salespeople are required to be smart entrepreneurs, to be versatile now. Yes, they need to understand how to create business results for their clients and customers, as this define business acumen.

Business acumen is said to be too rare in sales. Actually, many of us spend a whole lot of our time worrying about such things as product knowledge, technical knowledge, and even sales acumen. However, we ought to focus more attention on what is called business acumen.

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Free Commercial Retail business acumen evaluation test
Actually, business acumen training takes time and effort to acquire. Nevertheless, most business acumen test doesn’t necessarily take money (and you don’t have to have a MBA in a big institution)

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Here are the best ways to improve your financial business acumen skills. Note, most of these questions to assess business acumen cost almost nothing. What they only cost is your conscious and consistent effort.

Building Better Business Acumen Competency: Strategic Business Acumen Examples

1. Read Business Books and Magazines:

Many business books actually take years to write (they contain thousands of hours of research). They contain valuable experiences of practitioners (which include the stories of their successes and their mistakes. By dedicating only one hour a day to read 30 pages per hour, you can read a book in a week. Just have a reading plan.

2. Read Nonfiction Books That Have Nothing To Do With Business:

Actually, business books and magazines are splendid. Nevertheless, there are many to be gained from reading other nonfiction. There is definitely a certain education and conditional knowledge one gains from reading widely. One has the chance to run into many ideas, concepts, and even find lots of connections.

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Simply pick something that interests you. And you should find something that applies to your job in sales. You will even find some concept (written from a different angle) that will help you to better understand business.

3. Get Company Tutors:

Within your company, there are free training and development resources. These resources, waiting for you to take advantage of all they have to offer, are members of staff in other sections in your company. For example, if you need a better understanding of financial report, you easily go to your finance and accounting department to find a tutor. Your co-workers in other departments are the subject matter experts that would love helping you to better understand their subject by showing off what they know.

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4. Get Mentors:

Again as well, there are mentors that are also available. Amongst your family members, people in your community, your church members, your neighbors and friends, and so on, there should be some who have subject matter expertise in some areas of business. And you know what, these people will willingly share their knowledge and understanding of their business with you.

You simply approach them to mentor you and guide your education in their own area. Most be flattered and excited. Just be taking notes on their experiences including their advice for learning about their area of expertise.

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5. Let Your Customers Also Teach You Their Business:

Your clients have their own businesses to, and they know them. And even if you believe or think you know everything, they will be more than happy to teach you about their own business.

After offering you lots of knowledge, they will still be grateful that you seek to develop your business acumen skill and that you are interested in the workings of their business (which they know that your understanding will help improve your ability to help them produce better results faster).

6. Write Down What You Have Learned:

One splendid way to educate yourself is to write down what you’ve learned. The act of writing will help you remember what you learn, and also deepens your understanding. Thus, as you obtain business acumen lessons, ensure you are writing.

7. Get A Formal Education:

Actually, there is nothing better than reading something, studying it, and then sharing ideas around with a set of thoughtful people in a big room. That is the university experience. It is fun, exciting, and of course, extremely rewarding (if you are actually passionately engaged in it)

Before, success in sales is known to depend heavily on the salesperson’s sales acumen. And though developing business acumen skills is still necessary, business acumen is now said to be equally as important as sales acumen (and even more). Thus, use the list to build a nice plan on how to develop your business acumen skills.