Overcoming mistakes in business is not always easy, and there are times when unfortunately it’s not possible at all, depending on the magnitude of the error.
There are probably times in the life of every business person where a mistake made might lead to a confrontation with another business entity or individual, and those times call for careful consideration of the situation.
Sometimes compromise is best
There are times when even though you feel very strongly that you’re in the right, you simply must compromise for the sake of cutting your losses and moving on. Generally in such situations, the exertion and the cost of winning the battle just aren’t worth it, and it will cost you too much to achieve a hollow victory. If winning a battle causes you to invest too much time and effort, and distracts you from your true purpose of growing your business, this is a good time to just walk away and forget about trying to win.
One of the worst things you can do after having made a mistake which leads to a confrontation, is to continue to fight after the battle has been lost, or to allow the outcome to darken your attitude, and sour you about the business. When you allow this to happen, it means you will have lost twice, once for the original mistake, and again when you allowed it to overwhelm your attitude and make you bitter.
Overcoming mistakes of this kind can be accomplished by the simple realization that your most precious commodity is time, and that you simply don’t have time to fight these daily battles and skirmishes. Until you encounter something that’s really worth fighting for, let the small stuff go and focus on running your business effectively.
Don’t make the mistake of having inadequate cash reserves
Your business must always have an adequate cash reserve on hand to cope with day-to-day emergencies and unexpected issues.
We may be able to provide the funding you need to have a cash reserve, so please contact us at Safe Harbor Commercial Capital to discuss some options.