When there is a problem with your business - Don't Panic

By Steve Marsten

During our gas boom I’m sure you will agree we have seen a fair amount of money wasted on things as the Gas plants were built. For us it was hard to fathom however I am sure there were commercial reasons to ‘get things done quickly’. What I have noted recently is that some business owners can easily fall into the trap of throwing good money and resources at marketing as soon as their business is not going well.

Often when dealing with problems we should ask ourselves some well timed questions like….

• Why aren’t our regular customers returning?
• Are we failing to exceed their expectations?
• Is the experience we are offering stopping them from referring to others?
• What’s the highlight for customers when they engage with us?

We need to spend some thought time on the root cause of the issue and make an informed decision. Hence, take time out to define the problems. By doing this, we identify the key to finding an answer. Consult your staff as well as they may perceive the problem differently to you.

What impact is the problem having on your business? This step is important to ensuring the problem is real! Remember, always ask yourself; where is the evidence to prove this issue? It may well be on your Profit and Loss statement.

Are there any contributing factors to consider once the problem is defined? This may be an issue when arriving at a workable solution.

Never stop engaging other members of your business team. Brainstorm the solutions and then prioritise them. Only chose those answers that provide the greatest impact from the customer perspective.

Seeking professional support external to your business allows you to hear objective feedback and can sway you to ensure the best solution is implemented first.

So when faced with business problems, whether they are customer, service or product related, the important thing is to maintain and build repeat business. That means exceeding customer expectations on a regular basis. At Sothertons we assist businesses as a third party with objective solutions to problems. Call us on 4972 1300 for further information or come and see us.