Can We Live With [Poor] Business Decisions

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Starting the conversation…

When a business decision fails, can we live with with it (and what do we do next)?

Host: Jessica Dewell
Panelists:  Heidi Mazur, Chloe Edwards

What You Will Hear:

Live and learn … and do it again.

Rise every time.

Dig until the reason for the failure, the lesson, is found and learned.

Remember in the hard times – in the moment matters. Reach out.

Place emotion carefully in the response and follow up learning from poor decisions.

There are always many pieces to evaluate and fit together – rarely is there a step by step.

Awareness is important – especially dealing with failure.

Integrate and review … quickly!

Get realistic about what tiers for success look like.

Know when to let it go and give up and try something different.

When we think something ins undoable…

Stop and pause to think: have I thought enough?

Keep talking, big failures can be avoided by adjusting along the implementation path.

What will you do differently next time?

It is BOLD to integrate failures for stronger future business decisions.

Notable and Quotable:

Heidi Mazur 2:39
When we make a business decision and it fails, we do have to live with it. We have to learn to accept that there will be failure and learn from it.

Heidi Mazur 2:49
When we have to look at the silver lining of things, that’s where wisdom comes from making mistakes.

Heidi Mazur 2:57
A wise business person needs to see the good in any failed business decision, and be able to capitalize on it by gaining experience and knowledge to prevent making the same mistakes that it caused the failure in the first place.

Heidi Mazur 3:14
Learning to fail is a part of life, not just in business but in our personal lives as well. It is our human being trait that we are not perfect.

Heidi Mazur 4:47
Eric Worre, who is a network marketing trainer has said “Plan, Do Review, then make a better plan and repeat,” and this is good advice for all walks of businesses.

Chloe Edwards 5:23
Our greatest glory is not in never falling, but in rising every time we fall.

Jess Dewell 10:55
Note to self. Have somebody looking over your shoulder for you, before you get started.

Jess Dewell 15:45
Every thing for as much similarity as there is will be different. There is no “how to” to deal with failure. So if there’s no step by step, and we are on our own. Nobody else can pull us out of that. We have to pull ourselves out.

Jess Dewell 16:54
This failed. I can choose to be crazy. I can choose to not. This failed. I can choose to accept responsibility and figure out how to help, or I can blame and walk away.

Heidi Mazur 17:28
Okay, take a deep breath, grab your humility, and just move forward and try to fix it, make it better and make it right for that end user.

Jess Dewell 27:38
That’s something that many successful people tell us to do. Do one thing, figure out how to do it. Do it well.

Chloe Edwards 28:02
To understand what should I be giving up? What is an important Again, it is just going through, “is it bringing me joy? is a bringing me stress? or is just a moderator?” And make sure that my life is more filled with the joys and something that motivates me and keeps me going. And if it’s something that’s bringing me down, either in the cut it out, or alter it to make it become a lifter or joy.

Jess Dewell 37:29
The more we think at the beginning, and the more we understand exactly what we have to where we’re going, the better we are adapting to the problems that we can’t foresee.

Jess Dewell 38:26
If we were visiting all of those potential problems at the beginning, we would have a better chance for success at the end.

Jess Dewell 39:00
What I’ve learned from every single time I fallen down, and in every single fear I have about failing going forward, is that I ask, “Have I thought about this enough?” and, “Have I decided what is enough in this situation?”

Chloe Edwards 39:36
You want to have people bounce off ideas and to bring in these other perspectives, and to “I can’t think of the things that you can’t think of.”

Heidi Mazur 40:38
You have to get your end user input. And you have to get their perfect wish list. If they don’t tell you their perfect wish list, you don’t know where they want to end up in the end.

Heidi Mazur 40:50
If you find out in the middle — 50% done — that they wanted to go this way and you went that way. You have to decide, “do we continue on this path?” That’s a business decision. It’s all based upon time and money and resources for sure.

Heidi Mazur 44:11
Scope creep happens all the time. And sometimes it can be a very bad detriment.

Heidi Mazur 44:21
Oh gosh, you do need those. I call it the “Scope Creep. Police.” You have to have them. Otherwise, you’re just going on tangents, and here and here and here and here, and it’s just never gonna get done. You have to make that hard decision to cut it off. No more scope creep. That’s it. We’ve already said this in the beginning. This is where we’re going to be going, and no more. And then once we actually deploy, like maybe phase one, then we can add a little more scope creep after that. But not until we deploy phase one.

Heidi Mazur 48:42
Sometimes when you’re on a project, people don’t get ideas of what they really want until they see it. So you have to have some sort of a demo. Then it starts turning, and then they start thinking of things.

Heidi Mazur 53:36
After you review it, you make your changes, your adjustments. What works well, what didn’t work so well. And then you plan it again, you do it, and then you review. That can be going across all different types of businesses, Between vendor booths, or counseling, or contracting, or programming, or whatever. It really is Is that simple.

Resources:

Tags:

curiosity, awareness, business development, opportunity, problem solving, motivation, expectations, feedback

When a business decision fails, can we live with with it (and what do we do next)? 

Business decisions don’t always turn out the way we think they will. While most unexpected outcomes are small and can be smoothed over, sometimes our business decisions create larger kinks and require us to retreat, regroup, and rethink what to do. Jess Dewell hosts panelists Heidi Mazur and Chloe Edwards, to discuss how they faced big, unexpected outcomes to business decisions.

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