Time and time again, I have observed that it takes wisdom to win in business. When you listen to successful entrepreneurs and business leaders, a few things usually stand out about their success: their uncommon sense or wisdom, hard work, a bit of luck, and integrity.
Wisdom is different from hard work. While hard work is often tangible and linked to strength and high energy, wisdom is central to smart work and can sometimes feel intangible. For example, through wisdom, you can design a magnificent building with solid reinforcement and a foundation strong enough to withstand natural disasters like earthquakes. However, it will take the strength and manpower of builders to execute that design.
Luck is another factor that can either multiply or reduce one’s efforts and investments. Positive luck is valuable, but relying solely on it is not sustainable—you will be knocked out in no time.
Then comes integrity, which builds trust in business. I once listened to Warren Buffett, who advised his managers to protect the company’s reputation. To paraphrase, he said: it takes many years to build a reputation, but only a few minutes to ruin it if things are not done properly.
So, as an entrepreneur or aspiring businessperson, what are some basic wisdoms in the marketplace you must know, respect, and follow?
1. Great Structure
A business structure is simply how a business is organized to function. Structures are like pillars that hold the enterprise together. A great structure means having a flexible yet resilient operating model. It also includes systems that enforce the code of conduct while aligning with the business’s vision and mission.
Businesses that outlive their founders usually have strong structures in place. For younger businesses, building a solid structure provides freedom and stability, enabling leaders to focus on growth and innovation.
2. Strong Supply Chain
A business is like a living organism. Just as humans need oxygen, businesses need a constant supply of resources to function effectively. Cash, for instance, is king—a business needs money to operate and, in turn, generate profit.
But supply goes beyond finances; it also involves the steady flow of products and services. Major companies like Amazon and Alibaba excel in this area. Customers trust them because they deliver promptly and maintain high quality. The world thrives on the steady flow of resources, and so does every successful business. Without it, a company risks collapse.
3. Branding
Another essential wisdom in business is branding. Branding creates a perception and emotional connection between a business and its customers. This perception drives purchasing behavior.
Think about why people buy luxury brands—whether shoes, bags, phones, cars, or watches. It is not just the product, I believe it is the value communicated through the brand. Big companies spend millions on advertising because they understand the importance of positioning their brand strategically. They appear everywhere—sometimes even in personal spaces—through targeted ads, ensuring their value to your emotional bank.
Conclusion
What if I told you that the three principles above—structure, supply chain, and branding—can be strengthened through a hidden secret? The real wisdom in business, often overlooked, lies in leveraging other people’s ideas, skills, and money.
As a businessperson, you may need Other People’s Ideas (OPI) to startup, innovate or scale. You will certainly require Other People’s Skills (OPS) as your business grows, since demand for expertise will increase. And, of course, businesses need money. Big businesses use Other People’s Money (OPM) and this is the role investors and big banks play.
Ultimately, wisdom in business is not just about working hard. It’s about working smart, with integrity, and leveraging the collective resources around you. People are the greatest asset of any business and it takes wisdom to get the best set of people.
Thank you for reading. Don’t forget to drop your comment below. I am Samuel Ayankoso, a mere quester with some ink to write
QUOTES
”Great things in business are never done by one person. They’re done by a team of people” –Steve Jobs
“The more structure you have in your business, the more freedom you get in your life” -James Wedmore
“The real competition is between supply chains, not companies.” ~ Martin Christopher
“A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.” – Seth Godin
“You don’t build a business – you build people – and then people build the business.” — Zig Ziglar
Nice piece!
Thank you for sharing, Sir.