The Importance of Business Acumen and Industry Insider Savvy
Arrive at the C-Suite prepared and ready to demonstrate you have done your homework and, unless you have garlic breath, you will likely win an invitation to return to start building your ‘Trusted Advisor Capital’.
Doing your homework means, you have:
- Researched online sources to obtain ‘situational’ corporate information.
- Studied industry trends and the opinions of industry-respected gurus.
- Become conversant and comfortable with the industry jargon and buzz.
While you are not yet an industry-insider, you are well on your way to understanding the challenges and opportunities those who granted you C-Suite access face on a daily basis. Simply stated, you are developing an industry insider savvy and matching business acumen.
You only have to demonstrate this acquired understanding (savvy) by asking the right questions of the right C-Suite executive at the right time plus to add some new insight, not just information.
Mastering the Questioning Process is no small skill. In fact, do it poorly and all of your pre-meeting research and preparation will be for nothing because you will be unceremoniously ushered out the door with this morning’s coffee grounds and stale donuts!
Framing your questions is an important step. For example, which of these 2 would reveal more thorough preparation by the questioner:
[Mr. Chief] would you agree that XYZ Objectives have a greater priority than…….?
Or
[Mr. Chief] in your summation to the Stockholders Last Quarter, you stated that XYZ Objectives had a greater priority than…….Do you still feel this way in light of the current Recession?
The second statement clearly demonstrates someone did their homework more thoroughly before inquiring about the priority of XYZ Objectives in light of the current Recession. Presumption and relevance based on a foundation of preparedness are the clear winners!
How well or poorly we frame and ask our questions can quickly reveal our:
- Work ethic and thought processes.
- Appreciation of the opportunity we have been granted.
- Intention to deliver on the promise of adding value and insight.
Never forget the importance of adding value in the form of insight, not just information. An insightful observation can do more to establish our contribution of value to our new found C-Suite friends.
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