With protect profits always top of mind, small business owners are advised to be vigilant against possible threats and adversity. Adversity is a potential problem for a small business. You’re not sure where it came from, how much it will cost, and when it will end. Left unchecked it can undermine gross sales and eventually profits. But prepare yourself; because adversity or bad PR of any type is almost unavoidable somewhere along the line.
When adversity hits, it’s best if you as a small business owner are ready to quickly take control of yourself, first. Without missing a beat, you deploy your resources by any means available to protect your reputation from further damage. It is best if your response is quick and large. Being decisive prevents an onslaught of negative information from going unchecked to damage your reputation – and your bottom line.
It is a fact that some types of adversity will take you longer to recover from than others. In any event, start the recovery process as soon as possible, better earlier than later, to protect your reputation and to maintain your productivity. Any admission of a wrong is to be quick, truthful, and straight forward — if the complaint is warranted. Explain the reasons behind the situation. Take full responsibility. Be accountable.
This is not the time to dance around the issue, but meet the facts and do it in a way that your customers and clients find believable. Procrastination will only fuel the adversity or complaint. Left unanswered, the ember of adversity only grows.
Avoid the temptation to shift the blame to others. Blaming others needlessly simply prevents you from moving on to the next step. Rest assured you are not the only one who has had to “face the music”; many other small business owners have done it with a great degree of success in the past. If you are truly at fault, and your reputation is in danger, assure your audience that you are regrouping and will deliver again. Become a comeback story. It has worked well for numerous Fortune 500s over the past decade – to come clean. And then, to move on.
As a small business owner, prepare yourself to react. You definitely cannot afford to adopt classic turtle behavior and pull your head inside until the challenge passes, praying for it all to go away. As a small business owner, you can only make progress when you stick your neck out, proactively engage the issue at hand, and then look forward, again. If your follow any other course of action, your productivity and profits will likely suffer.
Gaining clarity for the reasons behind the adversity and then delivering a truthful and heartfelt admission will put this issue behind you. Work with all your force to get back on track. Deliver day in and day out what your customers and colleagues expect. Move to be above and beyond expectations, and they will reward you. You will move on to new challenges, higher productivity, better relationships, and greater profits.
Creating your best profit solutions is my highest priority.
Donna Marie Thompson, Ph.D.
P.S.: For more information please click on the link to get my Special Report: “3 Profit Pitfalls and How To Avoid Them.”
Remember – Just Say No to the Status Quo™
Donna Marie Thompson, PhD is a Small Business Profitability Expert and Founder of Expert Profit Solutions. She is a two-time best-selling author who has spent most of her career problem solving in international management consulting.
Donna Marie has helped businesses meet their profit targets under challenging circumstances. She was a Director at PricewaterhouseCooper's Consulting, and has worked at Booz Allen, as well as local consulting firms. This wide range of experience in businesses of all sizes uniquely qualifies Donna Marie to guide small businesses to discover their hidden profit potential.
Donna Marie earned a PhD from George Washington University, an MBA from Virginia Polytechnic Institute, a CPA in the state of Maryland, and is a Master Practitioner of the Energy Leadership Index.
Get your own copy of the free special report: "3 Profit Pitfalls and How to Avoid Them" at http://www.ExpertProfitSolutions.com.