Depending on who you talk to, 40%-80% of all business decisions are made with incomplete, inaccurate or missing information. People still need to make those decisions and so their go with their 'gut' instinct or intuition. Some people have good business instincts and business intuition while others don't. Either way, if you apply yourself and build on this capability with relevant experiences, you can develop better business instincts and business intuition. Many people use these two terms terms interchangeably - here's the difference:
Instincts are biological impulses that come from our lizard brain – the part of your brain that tells you that you are in danger, fight or flight, etc. at this instant. Goosebumps and breaking into a cold sweat are instinctive reactions to a situation – right at that moment. Your instinctual feelings are at a specific moment in time.
Intuition is the ‘sum of what you know and what you don’t know you know’ – conscious and unconscious (unbeknownst to your conscious brain) knowledge. Your brain ‘connects the dots’ in ways you do not know or understand (and may never know or understand). Yet, you can have an intuition about somebody or something. It is your sixth sense.
Your business instincts and intuition were developed over your lifetime, based on your experiences, values, rules and stories. You may not act on it but you may have gut instinct or an intuition about something.