If you’re not documenting what you do, you’re setting the stage for failure.
There are 2 grocery stores in my neighborhood. I mainly go to one, due to fast service. But sometimes the shop is out of stock.
I asked the shopkeeper why he doesn’t keep stock all the time. He said he does the purchasing only when the need arises.
So, I told him that he could keep track of his inventory by writing down the quantities of each item sold every week, allowing him to make purchases ahead of time so that he doesn’t lose customers.
And that should also allow him to forecast demand as well as identify fast moving items, which ultimately allows him to plan a budget and calculate profit/loss.
He was very excited about the suggestion. Hopefully he implements it and benefits from this.
I’m not a big fan of the ‘survival of the fittest’ concept.
It breeds a competitive, cut-throat environment. People (and businesses run by them) need a nurturing environment to achieve their full potential.
Competition is only with one’s self, to always strive to outperform our own selves, against our previous achievements.
Every small business out there deserves a leg up, a helping hand. I believe that small businesses can do better than what they are used to. So much good can come out of it.
MSMEs (Micro, Small, Medium Enterprises) are the backbone of the economy. These are also the entities that an average consumer deals with mostly.
Everyone wins when MSMEs do well.
Recently, I was teaching about social influence and the 6 types of social power. The students wanted to know how to differentiate between Expert and Informational Power.
I explained to them that information is like a pail of water and the expert is the well it’s drawn from. Once drawn out, and used, the water is no longer useful. The well, on the other hand, retains its usefulness. An expert always has knowledge, and is more powerful as a result.
To help them understand why informational power is transient, i gave them the following example:
Teacher A holds access to website resources and keeps it a guarded secret. Once the students figure out where she gets her materials from, then the power shifts away.
On the other hand, teacher B, who shares her resources, doesn’t depend on them for power. Rather, her’s is based on experience and wisdom in teaching that subject, which no student can figure out. Her power lies in knowing how to guide the students for the exam.
In life, we tend to hold on to information which are treated as currency. In reality, though, this attitude only highlights the inadequacy/inexperience of a person. A true professional will always be like the well. The more people benefit from you the more valuable, indispensable you become.