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Thursday, February 2, 2012

Who is a Business Savvy Person?

It has often been said that a lot of successful small business owners are business savvy people. This makes one wonder what it means to be business savvy since being business savvy naturally entails becoming successful in business.

There are quite a few schools of thought on what it means to be business savvy let’s have a look at some potential meanings.

According to inferences from various responses on yahoo answers as well as articles on wikipedia and elsewhere online to be business savvy means to have and apply working knowledge of how to do business effectively - minimizing risks, maximizing income potentials and curtailing excessive spending. Clearly, you are business savvy if you know how to make a lot of sales, minimize costs and your exposure to risks whenever new opportunities to make money shows up.

Some other people might argue that being business savvy entails knowing how to use the available business resources at your disposal to achieve maximum results. In that regard, some will say achieving set business goals and objectives with what you have is being business savvy. That naturally means one who is business savvy is a good manager of people and resources and an excellent identifier of business opportunities and money making ideas.

But business is never a one way street. There is the competition to deal with, an industry to understand, a market to penetrate or dominate and government that regulates the way and manner you do business, business savvy also extends to this area as well.


People who are business savvy don’t just know how to make money and spend it wisely, they also know how to relate well with people to achieve their aims, work in such a way they comply with Government regulations and have excellent working knowledge of how to manage a business. Where does this leave you the ordinary small business owner? The answer to that question will tell whether or not you are business savvy and if you can become successful in business.

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