The next most important value to me is competence.
Like integrity, this is a value that we look for both in our customers and ourselves. Concerning customers, we ask: Are they good farmers? Are they good business managers?
Concerning ourselves, we ask: Do we know what we are doing? Do we know our job?
What is our job at Yankee, anyway? Our mission statement says that our job is to provide constructive credit and financial services to enhance the income and well-being of our customers. To do that, we need to know the ins and outs of the products and services we offer. We need to know the rules under which we can sell those products and services. (There are lots of rules! Too many.) Most importantly, we need to know how to apply our products and services to our customers' businesses so that the customer realizes a benefit.
That last item implies two important things. First, we have to know how our products and services can be used in general to help customers. What makes a constructive loan? How can good records be useful? When is crop insurance beneficial? Second, we need to understand our customers' businesses so that we can apply our products and services to their specific situations.
We know that customers are looking for solutions to their problems. They are looking for partners to help solve those problems. We at Yankee Farm Credit hope to be one of the partners that customers choose.
How does one become competent? Through constant efforts of self-improvement. We must always be learning.
Another reason for continual, lifelong learning is that the world is constantly evolving and changing. We must keep up. Just because we were competent yesterday, it does not necessarily follow that we are still competent today.
Competence brings satisfaction. There is satisfaction in helping other people. There is satisfaction in a job well done. There is satisfaction in learning new things. And competence is more likely than incompetence to bring financial satisfaction.
UPDATE 8/26/08: With the addition of relationships as a value, competence moves to #3 on the list of values.
