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Secrets to Managing Your Business Mistakes | Arkansas Capital Corp.

Secrets to Managing Your Business Mistakes

Whether you forgot to attach an important document on an email, you lost a client, or you allowed private user data to be shared with third parties (we’re looking at you, Zuckerberg); mistakes are inevitable. Sure, you may feel embarrassed or even ashamed, but with these insider secrets, you can turn your business kink into customer loyalty.

Keep Things in Perspective

Unless you’re a pilot, surgeon or President of the United States; any mistake that you make at work can likely be quickly corrected. So don’t sweat it! Take a deep breath, count to ten and keep things in perspective by not responding in a way that’s bigger than your blunder. As Psychology Today writer, Dr. Suzanne Gelb, puts it, “On the freeway of life, [your mistake] is a parking ticket, not a multiple car pile-up.”

Immediately Admit the Mistake

In work and in life, the true test of character comes out in chaos. After all, how you respond to messes and mistakes could convert a potential business loss into a loyalist. But first, you have to own up to it. Being as swift and concise as possible, start with supervisors and any parties involved, and explain your mistake honestly and thoroughly. Recognize where you went wrong, and explain how you’ll recover from the situation. Your boldness will show your team the importance of remedying problems.

Consider the Customer

Take a walk in your customer’s shoes, and consider what would exceed your expectations if roles were reversed. Yes, you should absolutely apologize, but then follow it up with a “wow” factor. Your customers should leave the experience feeling more than satisfied– they should be excited.

Actions Speak Louder than Words

It’s a cliché because it rings true. The best way to earn back people’s trust and admiration is to be consistent at delivering great work. Take necessary precautions to avoid your past mistakes, and in the meantime, do your very best. With a strong work ethic, any occasional “oops”-inducing issues will be quickly forgiven and forgotten.

Call the Pros

The truth is, there’s nothing you can do to stop problems from popping up. Your response though? That’s in your control. And if you ever have any questions, don’t be afraid to call on professional help. Our staff at Arkansas Capital has provided lending expertise and support to Arkansas businesses for over six decades, so no matter what your inquiry is, we have the information to help.