Ok. I gotta rant really quickly. I know, I know. There's a time and a place for everything, but I feel the need to say this, and yes, I do apologize in advance.
-- Start Rant --
I can’t begin to tell you how disheartening it is to see so many people neglect their business knowledge. Just treat it like it doesn’t even exist. They don’t document any processes or routines, outline major procedures, or even transfer information to the right people for starters. They just seem to either act like it’s no big deal, until something major happens. Then the panic starts to set in, and folks start asking, ”Well, what do we do now?" It just doesn’t make sense.
--- End Rant ---
But I’m here to help you avoid all of that mess. I don’t want to see your business - the very business you’ve worked so hard for - end up in shambles because you failed to see the value of recording and storing your information.
Before I get ahead of myself, let me break down this whole “knowledge management” concept.
Knowledge management is simply the development, documentation, transfer, review and storage of your business knowledge. Knowledge can include everything from operational business plans to ideas, and even hard-to-describe type of know-how.
It is an incredibly popular concept in the corporate world, and even more so today as Baby Boomers are leaving the workforce and taking their knowledge and expertise with them. It’s a pretty serious issue because Millennials (who are now flooding the workforce) want (and crave) the knowledge and training to move forward in their careers.
So if a company is dedicated to knowledge management, they will not only document the knowledge Millennials need to know, but establish “transfer” techniques to “pass along” key information or knowledge to this group. It could be in the form of coaching, mentoring, classroom instruction, or even communities of practice (more on this example later).
But KM isn’t just for major corporations and businesses. Startups and small businesses (like you) can protect their greatest assets and look at ways to document, share, and preserve the knowledge around them, too. And its worth considering as KM has its benefits.
Just take a quick peek at my chart below to see what Knowledge Management can do for you.