Jul 08

Tips to Identify Failure Points in Your Business and How to Overcome Them

Failure PointsThere are areas in your business where you are likely to fail.

Do you know what they are?

Taking time to evaluate your business systems might reveal potential problems and allow you to improve them.

I call these areas failure points.

Here’s a quick story to explain the point.

One day, I went shopping for a new coffee maker. The last one broke and the one before it broke. The handle broke off on one. The dispenser began leaking on another one.

Those were the failure points and they often occur because of the quality of the product.

The handle on one of the coffee makers was not very strong. And while working with it, the handle broke right off.

When we brought the new coffee maker home, I immediately looked for the failure points.

I identified the two weak spots in the design. Both were on the tray the holds the coffee grounds. I will bet that when the coffee maker breaks, it will probably break because of one of those two failure points. Or, when I accidently drop the glass carafe. (Done that before. What a mess!)

But, this message really isn’t about coffee makers. It’s about your business.

What are the failure points in your business? What processes are broken? (Anything that you have an intention to do consistently, but do not do for whatever reason is a broken process.)

For example, do you have an email newsletter? Do you send it out consistently? Most business owners don’t. They are hit and miss in their approach.

Do you have an intention to post on social media every day? How often does it happen?

Here are 3 steps you can take once you identify a failure point:

1. Look for temporary fix

Once you identify an area where you are failing, see what you can do to improve the situation. For example, if you realize you are not doing enough to generate leads online, then simply create a web page and put an opt in form on it. Give access to your email newsletter. It’s not a sexy offer, but it will do in a pinch.

2. Identify a long-term solution

It may take time to come up with a good solution. And sometimes, you may need to implement a new technology system. That takes time and effort.

3. Take action

Get into action. Do something. Brainstorm ideas. Sometimes, you can come up with a few solutions that will improve things. If you are trying to reach more people, you might decide to start calling more people. And to find people to talk to, you could schedule a teleseminar. That will give you something to share on social media and attract more people.

What is the biggest failure point you have in your business right now. It reminds me of that game show. What was the line? You are the weakest link. Goodbye!

Rick Cooper
Online Marketing and Social Media Trainer

1 comment

  1. Very timely indeed. I can relate to having “failure points” and appreciate the ideas on what actions to take.

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