When running a business there are lots of things you have to know, a million things to do and only a short amount of time to make it work. To help your business succeed, you must always be searching for ways to improve your systems and processes.
We all know Henry Ford. He was one of the most successful business men in the world. He created a successful business in times of turmoil and distress. He said that “even a mistake may turn out to be the one thing necessary to a worthwhile achievement,” and “failure is simply the opportunity to begin again, this time more intelligently.”
When we make a mistake, often times that is the best way for us to learn and grow so that the same mistake does not happen again. Even when his car company began to go downhill, Henry Ford did not give up. He stepped back and analyzed the situation, determined what was wrong, fixed it and moved on. That is the syllabus outline for Business Recovery 101.
- Step back. You can always see more when you look from a different angle. Keep your eyes shut and your mind open to new opportunities, and always go with your gut.
- Figure it out. You have to determine the cause of the downfall, whether it be foreign cars taking over the industry, product malfunctions, high prices or poor service, figure it out. One popular way to do this is with online customer reviews and ratings like Shopper Approved. Ask the customers how you can improve your product or service. Take advantage of your customers’ honest feedback.
- Fix the problems or perceived problems! If your customers are telling you what you should fix to make your business better, listen to them. If your mistake is having prices that are perceived to be too high, “begin again… more intelligently,” as Ford would say. Figure out what you need to do to be successful and to win customers for life.
- Move on. Never go back to your same mistakes. Never dwell on them or let them keep you down. Move on, move ahead, move forward – succeed.
Take Business Recovery 101 seriously. Saving your business from failure takes the strength and determination to move in the right direction, the courage to improve, and the will power to not look back.