Management consultant extraordinare Peter Drucker said that whatever gets measured gets managed. With a hat tip to Dr. Drucker, I will add that what gets recorded, gets remembered.
Every hard won experience is valuable. We learn from our mistakes and our failures. Just like people, businesses must learn from errors and experience if they hope to succeed. Strategic consultant Joe Garcia recently wrote to me that "...90% of the bones in the great corporate graveyard are those of companies that forgot what got them to whatever success they may have ever enjoyed."
But in the hustle and bustle of day-to-day business it's easy to forget the lessons of the past. New employees, new managers, new clients, new technologies all make it easy to think that past experiences are no longer relevant or important. The truth is the exact opposite.
We want to believe that the new will always trump the old. However, the lessons of the past will remain relevant. The wisdom of experience will always be valuable. How much value is stored in your head and in the head's of your workers? How much value do you lose if just one key employee quits?
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Once it's recorded, there is no way to forget it. This becomes an enormously valuable resource for your company. It becomes an on-going collection of accumulated experiences, mistakes, solutions, failures, victories, tidbits and wisdom. And it is available forever.
Why aren't you recording your hard won business wisdom?
To learn how you can get started, contact me today -- Lou