Why The 'Learning Quotient' Is The Future Of Business

Joanna Swash Group CEO of Moneypenny. Moneypenny handles outsourced phone calls, live chat and digital comms.

We have IQ, we have EQ and now we have LQ. That’s a lot of Q's. The question is, why is "LQ" important, and what does the "L" stand for?

If you search the term "LQ," you might see a collection of concepts related to leadership, love or an acronym for laughing quietly. The former two options have merit, however, the descriptor that makes the most sense to me is "learning."

It has been an interesting couple of years for both businesses and leaders. There have been many bumps in the road, and I am sure there will be many more; it’s the future of work and business. We have had to adapt to market changes with efficiency, fulfill new and ever-changing customer needs and requirements and react to production chain fluctuations—and we’ve had to do it all with speed.

This is how business has stayed relevant. To not only survive but also thrive in this landscape, a business has to remain agile, adaptive, innovative and resilient—not just in reaction to change but also in spite of it. We have learned that this is the future of business, and that is why I believe the "learning quotient" is so critical.

In your quotient pie chart, how much room would you give to the LQ slice? There’s likely already a good serving of intelligence quotient (IQ), which might be in equal measure—or quite possibly outweighed by—your emotional quotient (EQ), but we need to make room for learning. From my perspective, there is no point in having the aptitude and attitude if you can’t adapt and change. Where LQ comes in is in one's willingness, desire and capacity to learn.

To thrive and develop an agile business that can turn on a dime, you must hire the right people—those with the right mindset. You must nurture the correct culture and leadership, and everything needs to be aligned with the correct fundamental principles. Agility needs to run through the very DNA of the organization if you are to future-proof it.

Take the massive and exciting technological advancements we are seeing reported every day: They are altering how we work and how we learn. And think about how we had to pivot our office situations from in-person to at-home to a mix of the two; this required us to learn new skills and embrace new technologies to survive. We had to learn, adapt and manage change. It is this capacity for learning that we need throughout an organization; it is something that individuals should look into as an indicator of career progression and mobility and something businesses should harness to create a sustainable business model.

As with all things, LQ starts at the top. Plus, I also believe that you can’t have leadership without learning.

I am a student of the everyday. I am curious. I am always asking questions and listening to my people, the markets, my fellow leaders, academics, my friends and my family. I am always learning from them, even if I don’t realize it at the time.

Learning offers endless possibilities and opportunities. Mistakes will happen, but, if managed within boundaries, this is an experience we all need from time to time and one that is essential in business. If we don’t test out a theory or new solution, how could we possibly know if it would work? And how else do we learn?

In looking to maximize LQ, leaders must welcome diversity of thought, challenge their assumptions and avoid simply taking the easy route. You must start from the beginning, accept that you don’t know everything and open up your mind to the fact that there is often, if not always, a better way to do something.

Developing your LQ is also about sharing your learning. That is where the true value lies. It is about not only exchanging views and learning experiences with others but also being receptive to others’ learning, too.

As a leader, there are lots of quotients to fill. Whatever label you place upon it, the model of creating and cultivating a learning culture can place you and your business at the head of the pack. It has to be authentic, reflected in your philosophy and invested in continuously. A learning culture begins with you, and, if done well, it will cascade throughout the organization to the newest recruit walking through the door for the first time.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

30 Small Business Ideas To Become Your Own Boss In 2023

Are you tired of the traditional 9-to-5 grind? Do you dream of being your own boss and taking charge of your professional life? If so, you're not alone.

The allure of starting a small business and becoming an entrepreneur has captivated many individuals seeking independence and financial success. In this blog post, we'll explore 30 small business ideas that are perfect for aspiring entrepreneurs in 2023.

These ideas span various industries and offer opportunities for creativity, innovation, and growth. So, let's dive in and discover the perfect business idea that will empower you to become your own boss!

With the rise of online shopping, starting an e-commerce store can be a lucrative venture. Consider niche products or unique items to stand out in a competitive market.

If you have a way with words, freelance writing is an excellent choice. Offer your services to businesses, bloggers, or media outlets in need of compelling content.

This is one of the best small business ideas because you can use a skill you already have and start finding work on job platforms like UpWork and Fiverr.

Leverage your social media skills to help businesses build and maintain a strong online presence. Offer services such as content creation, strategy development, and analytics.

As more businesses embrace remote work, the demand for virtual assistants is on the rise. Provide administrative support, scheduling, and organization assistance to busy professionals.

If you're creatively inclined, start a graphic design business. Help clients bring their visual ideas to life through logos, branding, website design, and more.

With people prioritizing their health and wellness, starting a personal fitness training business can be rewarding. Offer one-on-one or group training sessions, both in person and online.

If you have a knack for organizing and coordinating, event planning could be your calling. From weddings to corporate gatherings, help clients create memorable experiences.

Offering professional home cleaning services is a practical business idea with low startup costs. Cater to busy individuals or families who need help maintaining a clean and organized home.

Tap into the booming app industry by starting your own mobile app development business. Create innovative solutions or offer customized app development services.

Utilize your expertise in a particular subject by offering online tutoring services. Help students of all ages and levels excel academically.

If you're skilled at crafting, turn your hobby into a small business. Create and sell unique handmade products, such as jewelry, pottery, or knitted items.

Help individuals declutter and organize their spaces. Offer services like closet organization, home office setup, and efficient storage solutions.

If you're fluent in multiple languages, consider starting a language translation service. Assist individuals or businesses in translating documents, websites, or marketing materials.

For animal lovers, starting a pet grooming business can be incredibly fulfilling. Offer grooming, bathing, and styling services for pets in your area.

Provide convenient car wash and detailing services to busy car owners. Offer on-site cleaning at homes, offices, or parking lots.

If you're a talented cook, start a homemade food delivery service. Prepare and deliver delicious meals to customers looking for convenient and healthy options.

Help individuals enhance their personal style and confidence. Offer services like wardrobe consultation, personal shopping, and image makeovers.

If you enjoy working outdoors, consider starting a landscaping or gardening business. Offer services like lawn maintenance, garden design, and tree trimming.

With businesses increasingly relying on digital marketing, starting your own agency can be highly profitable. Provide services such as SEO, social media marketing, and content creation.

As technology continues to advance, the need for mobile repair services is growing. Specialize in repairing smartphones, tablets, or laptops.

Curate a collection of vintage clothing, accessories, or home decor items. Open a physical or online store catering to those seeking unique and sustainable fashion.

If you have a passion for personal development and helping others, consider becoming a life coach. Guide individuals in setting and achieving their goals.

Plan and organize unforgettable travel experiences for individuals or groups. Offer personalized itineraries, accommodation bookings, and local insights.

Share your love for mindfulness and wellness by becoming a yoga or meditation instructor. Offer classes, workshops, or private sessions.

Bring beauty treatments directly to client's homes with a mobile beauty service. Offer services like haircuts, manicures, pedicures, and makeup application.

Create a cozy and inviting atmosphere by opening a coffee shop or café. Serve quality beverages and light snacks, and cultivate a community space.

Start a business centered around eco-friendly products. Offer sustainable alternatives to everyday items, such as reusable straws, biodegradable packaging, or zero-waste products.

Invest in a small fleet of vehicles and start a car rental service. Cater to tourists, business travelers, or locals in need of temporary transportation.

Become a health and wellness coach, helping clients make positive lifestyle changes. Provide guidance on nutrition, exercise, stress management, and overall well-being.

Tap into the booming home improvement industry by offering renovation and remodeling services. Help homeowners bring their dream spaces to life.

Conclusion:

Becoming your own boss and starting a small business can be an exciting and rewarding journey. The 30 business ideas mentioned above cover a wide range of industries, allowing you to find the perfect match for your skills, interests, and goals.

Remember, success as an entrepreneur requires dedication, perseverance, and continuous learning. So, choose a business idea that aligns with your passion, develop a solid plan, and embark on the path to becoming your own boss in 2023!

iOCO celebrates 20 years of partnership with Qlik, looks forward to the future

Adriaan Rossouw, Business Unit Executive: Software, at iOCO.

iOCO Data Analytics Solutions today celebrates 20 years as the pre-eminent Qlik partner in South Africa and Africa. The company, then known as Qlikview SA, introduced Qlik to the South African market in 2003 and, over the years, has built up a significant client base of more than 350 companies, comprising the country’s leading banks, insurers, mining houses, manufacturers and retailers. Qlik’s clients include enterprise corporations such as Santam, Bidvest, the 'big four' banks, Sanlam, Telesure and more.

“Many of these clients have been with us since the beginning. That achievement is based on our customer focus, which extends beyond the technology to include partnering them in their analytics journey, with a focus on closing the gap between data, technology and people,” says Adriaan Rossouw, Business Unit Executive: Software at iOCO. “The other part of the equation is our people and their skills. We are fortunate to still have many of our original staff members, which means we can offer unrivalled Qlik skills and solid relationships.”

iOCO launched its data literacy offering last year to further help clients close the gap between data, technology and people, and embed analytics in the way a company works and makes decisions.

Over the years, iOCO has garnered numerous awards from Qlik, with the most recent being “Best Performing Qlik Partner of the Year 2021” for the region. The company is now a Qlik Elite Partner, the highest partner ranking. Presenting the award, Nick Loumakis, Regional Director, Qlik MEA, said: “iOCO has displayed a deep commitment to building world-class analytic solutions for customers and represents the best and brightest our ecosystem has to offer.”

Rossouw says over the past 20 years, Qlik has been at the forefront of the developing analytics market. During this time, the market has moved from simple dashboarding and reactive analysis to advanced predictive analysis using artificial intelligence and machine learning. He says analytics-driven process automation is an exciting current development that will dominate the next few years.

“From the beginning, Qlik was different because its cognitive engine offered data analysis not in isolation, but within the context of the data as a whole. Another major factor behind its success is the ease with which users can pick it up,” Rossouw says. “We look forward to working with Qlik over the next 20 years as they move from a leader in the analytics space to a leader in the data integration space through recent acquisitions such as Attunity and Talend.”