What is business acumen?
By definition Business Acumen is the keenness and speed in understanding and deciding on a business situation.
Basically in order for you to achieve business acumen ninja status and make fast and smart decisions it would be crucial to have a good understanding of how the business operates and what factors affect its overall success.
How do you find out all you need to know about a business and how it operates?
- Identify the top players in your company and keep them in your circle
- Ask them specific questions about the business and how they make decisions
- Learn the responsibility of the other departments
- Observe the daily business practices
- Take notes of monthly or quarterly updates
- Keep an eye out for company wide announcements
How do you gather supplementary knowledge?
It seems like the best way to gather supplementary knowledge would be to interview the top people in the organization or in product and get a good sense for their line of business and how they decide on business ideas and strategies.
How do you identify the top players in your company?
Try to find any documentation that references product management and team structures
What are the key questions you need to ask in order to learn as much as possible about the business and how decisions are made?
- What line of business are you responsible for?
- What are the main features that your teams work on?
- What do these features do at a high level?
- At a high level – What is your process for coming up with product ideas or feature ideas?
- How do you validate which idea should be implemented?
How do you prove that you know your shit?
It can be pretty hard to convince another human being about an idea, specially if you are like me and aggregate random thoughts to later form what in my opinion makes total sense….
To aid for this, and to safeguard you from seeming like a total loon, the best way to do so would be to visually represent this knowledge