Recovering from a Business Mistake photo

Recovering from a Business Mistake

We all make mistakes in business - the fewer the better but life and business have this as a common denominator. The question is not if you’re going to make a mistake, the question is how you recover from one when you do. Here are some strategies to help:

Firstly, identify what steps can be taken to remedy the mistake both immediately and then medium and longer term.  A bad decision is no reason to become indecisive, but rather an opportunity to learn from the mistake and grow stronger from it. When you have identified what can remedied, share both the mistake and what can be remedied with your team, so they are empowered and not afraid to make mistakes themselves from time to time.

Armed with the best remedies you can muster, reach out and apologise to anyone affected by your mistake. This may include your staff, your colleagues and your customers but this process will be the best thing you can do to restore any relationships damaged by the error.

Whatever the mistake, you can become a better business owner with this knowledge. Don’t ever become despondent or distracted. Learn from it and you can get better at anything but you will not get better if 1) you don’t want to and 2) you aren’t willing to feel the discomfort of doing things differently.

If you’re tired of learning from your mistakes and would prefer to learn from training and education, find a business mentor or coach and come under their instruction to point you in the right direction. Ideally find someone from the building industry with heaps of experience under their belt and then ask them to teach you and hold you accountable to the outcomes.