We can often see the pursuit of business life to be a means in which to increase value while also limiting costs, allowing for a natural profit to accumulate. Perhaps this is the most cookie-cutter definition of business, but it’s certainly not a complete one, nor a particularly refined one. In fact, for a large part of their early life, businesses can struggle to be profitable. A ‘good year’ for a firm may not be a year in which they are massively profitable, but their success may be measured in other ways. Like anything, the truth is a shade of gray, not so black and white.
Some might consider that circumventing troublesome situations and welcoming challenge is at the heart of good business practice, because it refines your competency and allows you to make a difference in your industry. In this post, we hope to use three examples of challenging business situations to show how creative thinking can move you forward to the best result, perhaps enabling you to think more laterally the next time a challenge presents itself. Please, consider:
Services that have difficult scenarios and catering to them in mind can provide you with the lifeline you need, and so allying yourself with these suppliers or providers can be essential. For example, Fuel Box can provide red diesel via their proprietary store box designs, not only allowing for easy transport and remote use, but sustainable recycling of their dropped off packages. That in itself can be quite the help when dealing with a remote project, or dealing with inconvenient logistics.
Taking The Hit
Sometimes, a business can only learn when it accepts the hit it must take to pivot. For example, it might be that a marketing strategy was worth the risk despite the poor results coming back, as trying a novel approach may one day hit gold regarding a certain situation. For example, it might be that price matching a certain item can help you not only take advantage of a competitor’s stumble in approach, but taking this slight loss can help you gain a large audience whom you may profit from the next time around. When a business can free themselves from thinking solely in profitable terms, they can sometimes address different scenarios should they need to.
It’s important not only to understand your options and to weigh up their predicted results, but to learn from everything you do. Not every creative solution will take, while some will be straight up failures. It can seem as though we have little to glean from those issues, but we do, as they can inform the training and safety of your team for some time after that, as well as helping you pivot your business direction more conclusively.
When you are able to apply that wisdom, you can be sure to be less fearful of troublesome business situations, because you’ll know there’s always a silver lining. With that advice, we hope you can apply a better standard of problem-solving.