Turn Mistakes Into Business Opportunities

How to Create Wonderful Opportunities out of “Bad” Situations

Even though you work hard and do the utmost for the success of your company, you will never manage to avert all troubles. No businessperson is absolutely perfect. Sometimes accidents happen, you might look bad and if you don’t handle the situation well, your reputation will be tarnished.

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But that doesn’t mean that you or your company will have to suffer a loss from a long-term perspective. Here are a few tips on how to create wonderful marketing opportunities out of “bad” situations.

Don’t take yourself too seriously

Admit your mistake, laugh about the error and get over it. Getting angry at yourself is not going to help anything. In fact, it may just make things worse. The way to resolve the situation is looking at the problem as an opportunity to achieve more.

Quickly eliminate the damage

The damage has been done and we have to deal with it. First things first: now is the time to prevent further damage or loss and recover from it. Do whatever you can to fix the issue.

Have the courtesy and be generous

Instead of trying to hide your error offer the affected customers more than they expect. If you pull it off right, these customers will likely become your fans. No company has ever benefited from evasive answers or lies.

Learn from the mistake

Analyze what happened and use the situation to configure the system better. Making a mistake is all right but repeating it can be devastating. Make sure it does not happen again.

Benefit from it

You might be surprised how can this experience be used in your marketing. If you handle the situation well, it will greatly boost your PR. Remember how Coca-Cola suddenly stopped making their most famous drink in the 80’s? The biggest mistake of their history. Few weeks later they relaunched Coca-Cola Classic with incredible praise and immense media presence.

People are generally more tolerant of mistakes and are more able to forgive them than they seem. If you are willing to face the issue with humble courage, your current and future customers will feel your candor. The more you will try to play the perfect businessperson and conceal your weaknesses, the more remote you will be from your customers and they will stop trusting you.

Instead, enjoy your imperfection and learn to use it to your advantage!

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