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This business coaching lesson teaches why you should grow your technology.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Powerful Moves To Grow Your Business: 5. Grow your technology.
  • Notable Quotable: "The better your tools, the better your results. Seek resources which can speed or refine your ability to deliver value."
  • Lesson Nugget: Anticipate needs and prepare before the opportunity arises.
  • Ask Yourself: What type of technology does my business use at every level?
  • Action Step : Improve your technology so that it will adequately serve the need you desire to fill.
  • Action Step: Make a list of all the tools your company already uses.

-All right Jim, we are now diving into this powerful move to grow your business, specifically grow your technology. And now I know this comes from your book. I'm going to read this notable quotable. But you believe that growing your technology is actually a power move, a super move, to grow your business.


-OK. I'm excited about is this. This is what you say in your book here. This notable quotable is, "The better your tools, the better your results. Seek resources which can speed or refine your ability to deliver value."

So unleash the truth. What does this mean? And how often do you see this happening with businesses?

-Often, because they don't think in-- everybody's waiting. Everybody's waiting for the success to arrive, and then they'll get ready for it. And then they'll get the things they need. That's the biggest problem of all.

So what thrivers do is they anticipate needs, and they get ready before the opportunity shows up. So they get dressed for the ball before the coach arrives and says the prince's awaiting. So that's the thing.

And when you think about technology, any tool is technology. You're using a pen right now. That's a technology.

If you had a keyboard and a computer, you'd be even faster. You'd have more capability. You could attach files and do all kinds of things. So the more technology, the more possibilities. The better the technology.

-That makes sense.

-If I go outside and I want to dig a hole, and that's all I've got, I'm going to be injured, filthy, and very, very tired. And it's going to be a long time before I dig the hole.

-Not effective.

-Give me a shovel, I've improved my technology. I'll have your hole for you in a few minutes. So whatever.

Just think in terms of, what's our technology? Is our technology tools? Physical tools? Is it systems? Is it software?

Is it apps? Is it locations? Grow my technology-- Trucks? Better trucks. Bigger trucks.

Rail? Whatever technology is going to make your world function better. Think of all the technology at all the levels of your organization.

Just look at your operation. Say, which parts of this are technology? Well, our security system is technology. We have to have a night guard because our security system is limited. So there has to be a person on site.

I wonder if we could get a subscription to some kind of a service that would allow us to not have to have a person on site. Or I wonder if we could get rid of the service and just have the person on site handle things. Well, it might be more human or less human, it doesn't matter. But grow your technology to the appropriate size for the need you're hoping to fill.

And then look at every other tool, and just list your tools. And say OK. One of the tools that most people don't think of as a tool is data. Knowledge. Information.

And it's interesting when you think about the progression of data to wisdom. Here's how it goes. Facts. Let's say we had the whole table top here covered with facts.

Data. Raw data. It's just something to know, right? That's just data. It's useless, completely useless until we organize it, and we say this is how to run a computer system.

Oh. So all those facts relate to how to run a computer system. Well that's no longer just raw data, that's information. So that has informed me. Now information is going nowhere until it's used. So I start to apply this information, and it reveals knowledge.

Hmm, now I see how it works. Now I see how it could work even better. Right. So the raw data, by being organized, became information. The information, by being applied, revealed some knowledge. So now there's something I know about this.

You know what? We could do this over here. That doesn't fit. And, yeah. And that same-- OK. Knowledge.

Cool, knowledge transfer. Knowledge transfer. Write that down.

Featured Coaching Excerpt - Notes & Transcript, Part 2
  • Lesson Nugget: Organized data leads to information. Applied information reveals knowledge. Knowledge allows you to recognize patterns and yields understanding. Understanding then extends over time which leads to wisdom and more opportunities.
  • Action Step: Organize the list of tools and see how they fit together in your company.



CALEB TAYLOR: That's so good.

-Yeah, knowledge.

-I love it.

-Now, when I start noticing the patterns in knowledge it yields understanding. So now I not only know this, but I understand what it means. I understand the implications of it, right? So knowledge reveals understanding, or yields understanding, by studying and finding the patterns and systems in it, and the principles that make it operate.

And then, as the understanding extends over time and other categories, it reveals wisdom. There are basic universal truths that come out of this. And I think, wow.

CALEB TAYLOR: This is huge.

-If I had known that I could have taken this bit-- oh, man, when I think of all the opportunities I missed, now that I've got the wisdom of this.

-So information, if you organize it, becomes knowledge, or reveals knowledge, if you apply it-- no.

Data becomes information by being organized. Data becomes information by being organized. Information reveals knowledge by being applied. So you have to apply the information to something in order to get the knowledge from it.

Knowledge will yield understanding when you start seeing how the knowledge operates and you get some experience with it. It also yields confidence, because the more you use it, the more competent you become. And then the understanding will reveal wisdom, which then you can start focusing on that, and that, and other things in all of life, because wisdom transfers.

-And this is what you're telling us to do. It sounds like is, the action item is, start by just collecting that data of the systems. So that action item is layout, make the list of tools, make the list of your systems. Say which area-- what is technology here.

JIM CATHCART: And see which ones fit together. And it's basically the same thing. So that's the organization of it into information.

-And the value of it is that it leads to data, goes from data to information, and then can be turned into knowledge with application. And then you've got the understanding, which can eventually lead to wisdom.

-But the understanding only comes from continued use, and keeping your eyes open.

-I love it. This is huge. And so when we-- I guess how big of an impact can this have, if we learn how to really harness the technology?

-Transformative. Transformative. You and I could go into a business. Let's say somebody is an air conditioning contractor, right? We could go in and take over that business, look around, and say what is our technology? Our technology is our tools, our trucks, installation tools, the people. Actually our technology is our technicians, technology, technician.

-I see a pattern there. And the technicians, if they were more highly skilled, could do more. What do you know? Or they could do the same faster, or more efficiently, or with fewer errors, or with less cost, and so forth. More enduring solutions for people.

And you start thinking about all these things, then you start seeing. If we only had one warehouse that was closer to this, that technology, a location technology, a warehouse, would solve so many problems. Because then all these people wouldn't have to loop back through central supply to go back out to that region. Man, that would be great. So we'll start keeping these supplies off site. And we'll start--

-Just piece it all together.

-Yeah, Just over time.

-That's awesome. I love it, Jim. Thank you so much. This is huge. Now it's time to apply this power move and watch your business grow.

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