The day you’ve waited for is finally here. You’ve spent years in research and development and it’s finally time to sit back and enjoy the spoils from your brand new amazing product. There’s just one problem: your customers hate it. So what now?
The ability to adapt and change is one of the most important skills a business owner can have. While some product launches and new services will go over like gangbusters, others may not. Some products will even be top sellers for a few years only to fall by the wayside as technology evolves or competitive advantage erodes.
Effective business leaders always have one foot in the future, planning ahead and preparing to make changes to secure the best possible results. Embracing change is an important habit for anyone who leads a business. But if you’re not sure how to approach switch things up, The 7 Habits of Highly Effective Small Business Owners is filled with ideas and proactive behaviours to help you move forward.
Take feedback to heart
If you sell a product that one person loves and 99 people hate, who do you listen to? Many business owners, especially those with extreme pride in their products, are likely to be deaf to constructive criticism, even when it comes from an overwhelming proportion of your market.
A big part of looking to the future is taking constructive criticism appropriately, evaluating complaints and critiques from customers and current team members and working them into your business strategies. If half of your consumers think the instructions that came with your product are vague and unhelpful, don’t assume they’re stupid; instead, assume they’re right and make a change accordingly.
Stay up to date
If you’re a newcomer to your industry, it’s vital to stay abreast of trends. Technology, especially in media-based and consumer product industries, changes quickly, which means that one day you’re in, and the next day you’re utterly irrelevant.
When you let the industry leave you behind, you’re also telling your potential customers it’s okay to move on, transforming what could be an eager audience into a crowd of uninterested passersby. By staying up to date with what’s happening in your industry, you have the power to stay relevant, offering new and innovative features and options that will keep customers coming back for more.
Progress is impossible without change, whatever your industry or objectives. Without learning to move with the times and responding to feedback, your small business may not have a viable future.
In The 7 Habits of Highly Effective Small Business Owners eBook, you’ll find everything you need to stay focused, relevant, and aligned to your goals by helping you develop the habits you need to succeed.