Have you ever considered how a handful of challenging discussions could streamline your life and turbocharge your business? This thought often strikes a chord with many business owners, especially those grappling with daily operational glitches.
Today, we’ll unravel two vital concepts – tackling downstream issues and the magic of anchoring.
Visualize this: you’re part of a group committed to cleaning a river, but despite your best efforts, the rubbish keeps accumulating. Then, one forward-thinking member – let’s call her Jane – decides to trace the source of the problem upstream. She discovers a factory dumping trash into the river. Jane and her team confront the factory, nipping the issue in the bud. The lesson here? Instead of perpetually firefighting downstream problems, a tough conversation can eliminate those issues at the onset.
Reflect on the challenging discussions you need to have within your business. It could be with an employee frequently late or a client demanding more than you can provide. These are your metaphorical factories polluting your river, and it’s high time you went upstream.
Next, let’s explore anchoring – a potent psychological phenomenon that shapes our expectations. The initial offer or interaction tends to set the bar for our expectations, and this can be leveraged in various business contexts.
Suppose you’re selling a car. The buyer proposes $10,000, but you anticipated $20,000. The buyer has lowered your expectations, and even if you negotiate up to $17,000, it falls short of your initial expectation.
This principle of anchoring is equally relevant to your business interactions. For example, when dealing with a client who needs a task done within a flexible timeframe, instead of promising delivery within a week – and potentially disappointing them – why not assure them a three-week period? If you deliver in two weeks, they’re pleasantly surprised, and you’ve surpassed their anchored expectations, creating a memorable service experience.
How does anchoring interweave with dealing with downstream issues?
When you promise a client a one-week delivery and fail to meet it, you’ve opened the floodgates to a host of unnecessary downstream issues. Addressing these problems can sap your time and energy, hindering you from delivering your best service.
The same applies to your staff. If you ignore habitual lateness, you’re setting an expectation of slack time management, leading to more downstream problems. The solution? Have that challenging conversation.
You likely know the issues in your business that warrant your attention. It could be Dave who is perpetually late or that client for whom you overcommitted. It’s time to heed your own advice, have those tough talks, and set realistic expectations.
Remember Jane’s story – go upstream, confront the factory, and stop the rubbish from contaminating your river. As you do this, you’ll find yourself dealing with fewer downstream issues, leading to a smoother, more efficient business operation.
It all begins with a tough conversation. So, are you prepared to revolutionize your business?
- Hugh Reardon
