Who would have thought that even managing and operating a business requires complexities such as being knowledgeable about Psychology?
Ooops, don’t be pressured just yet. You might be thinking it the wrong way. This doesn’t mean you have to gain your PHD or go back to college for your Psychology degree because even without it, believe me. You can get a hold of the people’s mindset which will give you a peak of their behavior.
Though you may want to spend some time with a little research to support your stocked knowledge, but planning and strategy is more crucial. But first, here are the things that you have to do and understand.
Appreciate commonalities but recognize differences
Due to tradition, most business owners see and treat the market as a whole. Even studies and research doesn’t usually focus on individual demographics but on categories based most commonly on age and gender. While with the other factors, commonalities are strictly being observed and behavior is explained in general.
There’s nothing wrong with that though. Appreciating commonalities helps a lot in explaining different phenomena. But what happens is that, numbers define the perception on things. Use of Bandwagon approach suddenly became a general rule in determining what’s better and what’s best. One example of it is the use of social proof. It became effective because people’s mindset for conditioned to believe that the more people who uses it, the higher the quality it has.
But what businessmen don’t know is that it is also crucial for them to recognize and mind about their customer’s differences in preferences. Using this, you might now and understand your competitors’ edge over you if there’s any. You can also use this information to prevent being countered in the future. Your opponents will never get past you when you know their moves even before they think of them.
Commit while you do your thing
When you are doing business, you are also getting into a relationship with your clients. This means you have to commit and do something to keep that relationship going strong. When your customers see that you have invested in making sure to bring better quality of products and services, it’s more likely that you can also expect something in return from them such as retention and loyalty.
Research, Plan and Apply
Again, there’s no need for a bachelor’s degree (though it’s a bonus if you have one.) But still, knowledge is power. It is what will guide you in making decisions will affect your business. Work on what you can still improve then try integrating new strategies, tools and software. But remember, still, your attitude and actions towards them is what will define their behavior. So, to make sure that you will achieve the ideal reaction from them, then you have to do the right things that will lead to that. As the saying goes, ‘What comes around goes around.’ It means wise investments in business will give you investments of loyalty and retentions from others as well.