Turning Your Business Problems into Opportunities

 

Are you waiting for you next business growth opportunity to knock on your door? Funny thing about it, it may already be in the room – you just don’t recognize it.

As someone famous once said, “Often times, opportunity comes dressed in work clothes.”  Its’ already present – it just might be disguised as a problem you are facing.

Let’s take a closer look at how this might play out.

 

What are some of the recurring complaints you are hearing from your customers or employees? How can you turn those complaints into an opportunity to serve them better?

Awhile back, I was doing consulting with a very successful car wash owner. One of his car wash operations was located on a very busy seven lane street. His customers complained that it was very difficult to make the left hand turn into his car wash when they were coming home from work in the busy afternoon traffic. Even worse, it was harder to turn left when they were exiting his car wash to head home.

As we thought through this potential opportunity, he discovered that he could make it easier for his customers to enter and leave his car wash by opening an hour earlier in the morning. That way, he made it more convenient for his customers to use his car wash as they were heading to work, and thus, avoid the traffic congestion on the way home. He also added the incentive of a “happy hour” incentive if they came in between 7 and 8 a.m. in the morning, they could receive discounts or free additional services.

This is a simple example of taking advantage of a recurring customer’s complaint. How about you, in your business or organization?

Before you embark on your quest to solve the problems your company is facing, heed the following quote:

 

“The real mark of the creative person is that the unforeseen problem is a joy and not a curse.”

– Norman H. Mackworth

Here are some questions you and your leadership team can answer to help you generate your own business opportunities:

What kind of a recurring customer complaint are you receiving? What new or different way can be tried, that could turn it into a profitable solution?

What kind of problems are you experiencing with employee performance? What creative solutions can be tried to resolve this dilemma?

What external changes in your customers’ demands could you turn into an advantage over your competitors?
What type of process or manufacturing bottlenecks are occurring within your company? What new approaches can be tested?

 

Your own question:

 

Some final suggestions to make this process work for you.

  1. Make it fun.
  2. Offer prizes or cash as an incentive for the best solutions that are implemented.
  3. Keep trying until you succeed. It will be worth it.

 

So, as you size up the next problem you encounter, why not unleash the creativity of you and your team to turn it into a profitable opportunity?

Question: If you want to discuss how I can help you maximize your leadership team’s problem solving skills –  call or email me.

 

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Tom Borg


My name is Tom Borg. I am a business expert who works with small and mid-size companies to effectively and profitably improve customer acquisition and retention. I help these businesses through his use of my consulting, speaking, training and coaching. To ask me a question or to hire me, please contact me at: (734) 404-5909 or email me at: tom@tomborg.com or visit my website at: www.tomborgconsulting.com

Tom Borg