Today I want to talk about profits. Profits seem to always be at the top of your mind if you are in business. It’s one of the most important numbers.
Think about profits, not only in your numbers and your financials, but also start thinking about how you “profit” from mistakes that have happened in your business.
How do you profit from setbacks that have happened in your business?
How do you profit from losing customers or clients in your business?
How do you turn this around and learn from things that happen?
How do you turn them into ways in the future that will actually generate cash profits in your business?
Don’t shy away from your mistakes by not talking about them or really addressing them. However, instead of focusing on the negative aspects of a mistake, I want you to create a learning lab. Admit what went wrong or didn’t work but use this as motivation to change things for the next time.
Ask what CAN we learn from this?
What DID work?
Because there are always things that you DID DO RIGHT. Focus on what worked; what went right; how can we make things even better; what will we do different next time; what needs to be changed, fixed, updated?
You could be missing out on some great opportunities here. Because it’s the easiest thing to do, every business owner I know asks what went wrong last month, last quarter, last year.
Turn it around. Phrase things in the positive — here’s what we are going to do. Here are the things we are going to work on.
Think about it from the standpoint of positive outlook leads to positive future profits in your business — whether it be future benefits, future revenue, or future better client/customer experience.
How can we profit from mistakes or setbacks? How do we profit from a product that flops or a service that doesn’t work? How do we profit from customers leaving us? Can we actually get more from a customer leaving than a customer staying?
My answer to you is “Yes”!
Because I would argue that depending on how you look at the situation, you can profit by seeing what worked and how you can do better the next time.
Your future is huge if you change your perspective about profiting. If you need help in this area reach out to us and schedule a free consultation sometime.