Recently, I ordered some sleeping equipment. A friend of mine had ordered similar equipment from a large bureaucratic organization. My friend felt that because he went with a large organization his experiences resulted in being impersonal and inflexible. I decided on using a locally owned business instead and I’m glad I did. This local medical equipment store was friendly, efficient, ...
Recently, an insurance adjuster assessed our roof for hail damage. From the moment the adjuster climbed out of his truck, he moved diligently and at a fast pace. He knew what he came to accomplish, and he was determined to do it as efficiently as possible. Instead of pulling out a ladder, he pulled out a drone. In minutes, ...
Years ago, I was selling my used car. One family came to look at the car for their teenage daughter. This father tried to negotiate the price lower. But I knew my price for this car was a fair price and I could tell his daughter loved the car, so, I said, “No.” As the family drove away, I ...
In the 1990s, the internet became public. Investors began investing in local companies that now had a global market available to them. Almost anyone with a Dot-com web address started getting investment capital, even if they never made money. By 2000, when these investors began selling their money-losing stocks it created the Dot-com bubble and the stock market crashed. ...
Recently, I scheduled a morning meeting at Panera’s restaurant with a vendor. Since I don’t drink coffee, I typically order hot chocolate. However, the clerk informed me that management recently discontinued serving hot chocolate. As a financial guy, I understand limiting the number of products you serve to enhance profitability. However, I wonder if management researched the other implications ...
Recently, I spoke with a young man who started an online business a year ago. After one year he had not sold any products at all! We can develop the best quality product, but if it’s not something the customer needs or desires, you have wasted your time. God is the ultimate Creator who designed each of us and He ...
Our ministry was considering developing a new service. This led to a conversation about what differentiates our proposed service from other similar services. The question is, “If others are already fulfilling the customer’s needs, why should someone buy our product? What sets us apart?” God gave us a good example when He set apart the Israelites from other nations. The ...
Recently, Bud Light experimented and embraced the “woke” agenda in their controversial ad with transgender activist Dylan Mulvaney. Their decision didn’t go well for their beer sales. Considering the point of advertising is to increase sales, the fact that Bud Light sales decreased over 20% for weeks afterwards, doesn’t bode well for their experiment. Bud Light should have known their ...
Recently, my wife, Kathy, came home frustrated that her hairdresser had increased his price by over 50%! It reminded me of an inflation factor that I think often gets overlooked – the inflation lag. Large businesses constantly monitor product pricing so they are quick to increase prices. Small business owners, however, do not take increasing prices lightly. Frequently, their ...
In this series, we’re discussing the risks and rewards of Chatbot GPT and related technology. Today, I want to discuss some of its additional risks. To reveal its capabilities, I asked Chatbot GPT to tell me the risks of using their technology. Here is a summary of the risks mentioned. The first risk is lack of accuracy. If the input ...
Equipping Others to Do Work Differently
