Business Coaching in Bristol and Bath

Why are you reading this blog?

There are three possible answers to that question:

a) For fun – which I think is unlikely!
b) For practice – which again I think would be highly improbable
c) For knowledge – which, by process of elimination, is the answer most would give

My hunch (and hope) is that you’re looking to gain knowledge on subject matter that is either of interest or importance to you. That’s fine, but perhaps the more important question is: How is gaining the knowledge going to benefit you?

It seems the pursuit of knowledge is something we’re hardwired to do from an early age to improve our opportunities in life; we associate knowledge with power and power with money. One of my favourite gurus, Deepak Chopra, puts it a little more eloquently when he talks about us all having two Goddesses residing in our hearts: the Goddess of Knowledge and the Goddess of Wealth. The more time we focus on the Goddess of Knowledge, the more the Goddess of Wealth vies for our attention by giving us the wealth we desire—a causal reaction, if you like.

Whilst logical enough, for me this doesn’t go far enough, as the gaining of knowledge in itself shouldn’t be the end goal. We can all gain knowledge very quickly and cheaply with the Internet at our fingertips, but what differentiates us is how we use the information.

“Knowledge without action is vanity, and action without knowledge is insanity” – Iman Ghazali

“Without knowledge action is useless and knowledge without action is futile” – Abu Bakr

Applying this thinking to our own business situations, whilst it’s important to know all about our progress via our key performance indicators, website analytics, and management accounts, this knowledge in itself isn’t going to improve performance or help growth without us acting on it. As another of my favourite gurus succinctly puts it:

“The path to success is to take massive, determined action.” – Anthony Robbins

There’s therefore a four-step recurring process you should implement and master in your business metrics, which looks something like the cycle pictured here.

A very topical example of this process in action is the SKY racing team’s success in the recent Tour de France. Those running the team realised that by monitoring everything that could be tracked on its own wasn’t enough, as all the other teams also had access to the same or similar data. The differentiator for them was their ability to interpret and react to their findings more quickly and effectively than their competitors. They used “non-cycling” experts in their own specific fields to determine the ideal path to success.

In the same way, business owners could and should set up their own “data utilisation” cycles—either with internal or external experts—to help them collect the most relevant data and realign their strategy/action as a result. As in sport, those who do this faster and better than their rivals gain a critical competitive advantage.

Business Coaching in Bristol and Bath