Reinventing Your Business: Part III

This week we’re discussing how to reinvent your business by using the word Renew as an acronym. The N stands for Needs Assessment.

A friend of mine was in a rapidly declining industry. He decided to reinvent his business, but he didn’t do a needs assessment to determine all the related costs and risks to make the change.

The costs of his hasty decision eventually put him out of business.

Luke 14:28 teaches, “For which one of you, when he wants to build a tower, does not first sit down and calculate the cost to see if he has enough to complete it?”

In the above passage, Jesus is speaking of the cost of being a disciple. He asks his followers to count the cost of their decisions and ensure their ability to see their actions through. Christ desires the dedicated, not half-finished foundations as the following verses warn.

Likewise, before making major changes, you need to determine the cost and needs. Serious changes in business require careful preparation, especially if the situation is already precarious. Perhaps consider getting the advice of a professional on how to bridge the gap between where you are and where you want to be. A little strategy now could save you money, time, and even possibly your business farther down the road.

Questions for Reflection

• What are your business’s needs to stay afloat? What does your business need in order to meet your goals? And, finally, what does your business need to expand?
• Have you counted the cost of your Christian faith? Have you ensured your dedication? And if faithful Christianity is more than you had anticipated, what is your response? How are you building stamina for your faith?