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Business Acumen: The Secret To Successful Freelancing



Hold on! I thought we were going to discuss freelancing. Where the heck did 'business' come from? Is that what you are thinking? Well, let me explain.

Business and Freelancing, despite being worlds apart, have a lot in common. The only difference being, when you operate as a business you operate as a company while when you operate as a freelancer you operate as an individual. Freelancing can be categorized as one type of business but not the other way round. In a way, Freelancing is a subset of Business. Business is the superset of Freelancing.

Now that it's clear why I am talking about 'business', let me explain what is acumen. For those who don't know, it is the ability to make good judgments and take quick decisions. A business acumen, hence, means a good understanding and quick decision making ability in business.

Most people believe that business acumen is inborn. It is believed that business talent is usually passed on over generations and one can be a good businessman only if they've been involved in family businesses. A myth that couldn't be more wrong.

Like any other skill, business acumen can be developed over a period of time. In fact, more often than not, people start from absolute scratch and go on to become great businessmen. Bill Gates, Steve Jobs and almost every entrepreneur in the world has developed business acumen over time. I, the author of this blog, am a shining example myself.

The keenness and interest in understanding how a business or a freelancing deal works is what will make you successful. You have to be really interested in knowing and learning things. Why did that company release this product? Who are they targeting? What is the reason behind the pricing? Why did they acquire their competitors? What was their marketing strategy? This kind of inquisitiveness will become the key to your success in business/freelancing.

Always remember, while money may motivate you to work, it is your business acumen that will drive you towards success. Rest of all will come later.

Peace!

Comments

  1. Thanks a lot for sharing profound tips! I find this attention grabbing and informative.

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