Recovering from a Business Mistake photo

Recovering from a Business Mistake

We all make mistakes in business - the fewer thebetter but life and business have this as a common denominator. The question isnot if you’re going to make a mistake, the question is how you recover from onewhen you do. Here are some strategies to help:

Firstly, identify what steps can be taken to remedythe 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 canbe remedied with your team, so they are empowered and not afraid to makemistakes themselves from time to time.

Armed with the best remedies you can muster, reachout 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 youcan do to restore any relationships damaged by the error.

Whatever the mistake, you can become a better businessowner with this knowledge. Don’t ever become despondent or distracted. Learnfrom it and you can get better at anything but you will not get betterif 1) you don’t want to and 2) you aren’t willing to feel the discomfort ofdoing things differently.

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