This week we’re discussing how to reinvent your business by using the word Renew as an acronym. The first E stands for Examine Data.
In the 1980s, Western Union’s telegram business was becoming obsolete due to emails and cellphones. In 1987, they began a process of examining data and trends in each of their business lines, leading them to embrace their money transfer business as their future. Today Western Union is the largest money transfer business in the world.
Galatians 6 teaches, “For if anyone thinks he is something when he is nothing, he deceives himself. But each one must examine his own work.”
If your business is headed towards decline, you can either let it slide or, you can reinvent your business. Examining data will lead to better decisions.
