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What Does Street Smarts Mean in Business

Posted 7. Dezember 2022 by Logistik-Express in Allgemein

Perhaps it`s the academic environment itself that turns mortal nerds into budding entrepreneurs. The late 90s proved that students with no experience beyond organizing a frat-keg party can start businesses that would exceed all expectations. Many would argue that the key to the success of most of these companies was that the founders (or the venture capitalists who fund them) were smart enough to know that, even though they had a rich education, they needed experienced managers to really run the show. Street Smarts is just as important for survival as a good education. I have always thought that the term “street intelligence” conjures up a good image for its definition and implications. This is another way of symbolizing a type of knowledge that cannot be obtained through the study of theoretical material (i.e. books) and cannot be learned. It is the knowledge of how to function properly in your environment. As a mentor and advisor to entrepreneurs, I find it easy to spot “street intelligences” when I see them, but it`s hard to explain the details to someone at the other end of the spectrum, even if they`re willing to learn. Some people argue that street intelligence is just a natural skill, but I disagree. I believe these are disciplines that can be taught and learned. At the end of the day, it doesn`t matter what education, experience, talent, luck or money you have.

It`s what you do with it that matters. A person who is smart on the street does not necessarily know how to move exclusively in an urban environment. The term can also be used to refer to social awareness and interaction, regardless of attitude. Good communication with peers and navigating social circles can also fall into this category, especially when it comes to youth social circles and high school cliques. Larry Page and Sergey Brin were students when they founded the company that would later become Google. They were smart enough to have Eric Schmidt as president and CEO when the company took off. Schmidt was the former CEO of Novell and CTO of Sun Microsystems. Schmidt, who holds a Ph.D., is a man of education and experience.

So when it comes to succeeding in business, what`s more important: education or experience? While neither is as helpful as a wealthy parent, here`s the answer that will hopefully help me avoid these worms: Education and experience can play a huge role in business success. The most important question is: can you succeed in business without one or the other, or even both? And the answer is yes. Can I get ketchup with these worms? By definition, an entrepreneur is an entrepreneur who takes risks; Someone who starts and finances new business ventures to make a profit. Entrepreneurs start businesses. The smartest ones then hire MBAs to manage them. Now let`s move on to the experiment. Is experience a prerequisite for entrepreneurial success? Again, not at all. Many experienced entrepreneurs have gained their experience in bankrupt companies, so experience does not immediately lead to success.

But attitude and problem-solving are not enough without the basic disciplines described above. No one is born with all these disciplines. These represent the knowledge and experience of many successful businessmen. Study them carefully and practice them religiously. The alternative is a long and painful learning curve that neither you nor your investors can afford. Overall, Street Smarts also requires that you be able to bring all of these things together to solve problems and effectively dodge and sneak through risky commercial streets. It means weighing your idealistic view of how things might be compared to the realities of the business world. Self-confidence and a positive attitude are also necessary to be a smart and successful entrepreneur. Q: When it comes to succeeding in business, which is more important: education or experience? In the urban world, being smart on the street means instinctively knowing how to protect yourself from scams and bad guys. This means that you know how to behave in difficult situations and how to “read” people`s intentions. In reality, the startup world contains the same very risky routes, but in a commercial context. So I was happy to get help recently thanks to a new book by John A.

Kuhn and Mark K. Mullins, “Street Smart Disciplines of Successful People,” which put some meat on the bones of what it means to be Street Smart in business.

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