Friday is finally here! Today we cover the importance of managing expectations and accepting responsibility when things go wrong. Dan made a mistake earlier this week and the easiest thing to do when you make a mistake is to just say it. No excuses. No deflecting of blame. Just say it. Once you accept responsibility it allows you to move on to correcting the problem. Give it a listen and check out the website for more content www.bcbousa.com
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Today’s episode covers a few topics that everyone can relate to. The first is the ever increasing cost of doing business. Material pricing is up across the board regardless of what industry you are in. In several conversations with clients this week the topic of how to address that issue with your customers has come up. The answer is simple even if it is not easy to swallow – you need to have a conversation with your client.
As a business owner there is no reason to be taking on increased costs without passing that information and increase along to your customer. In some cases prices on items like lumber, flooring, etc. have more than doubled or tripled! As a company, if you attempt to absorb those costs without passing it along to your customers it is a recipe for disaster down the road. Manage expectations and have a conversation with your clients. Provide any information you can to show the increases and continue to price and operate from an honest and profitable standpoint.
The next topic is accountability. Dan made a huge mistake earlier this week. A costly mistake that does have consequences. After the mistake was made Dan quickly owned up to the mistake and the focus shifted on to how to correct things moving forward. Making mistakes is part of being alive. We all do it. When it happens, the best course of action is to own up to it so the process of correcting the issue or at least mitigating the consequences. Time spent deflecting blame or making excuses is time not spent moving forward.