We've all heard the expression that says it doesn't matter if we fail, what is important is how we react to that failure.
Whether this rings true for you or not, one thing for certain is that it is spot on when it comes to businesses.
In a competitive marketplace, unless you are blessed with superhuman abilities and luck you are sure to experience your fair share of disappointments and dashed expectations.
That doesn't mean that every business will fail, but even the most successful companies receive setbacks on the way to happier days.
Whether that means failing to secure an account after a proposal fell flat, losing out to a competitor on a one-off job or seeing a sudden drop in sales, the onus on business leaders is to develop a bounce-back strategy.
What we learn from failure we can use to improve the likelihood of future success.
So how does your business learn from failure? A certain Mr Einstein said that the definition of insanity was doing the same thing over and over again but expecting different results each time. So that's not an option!
Obviously if what you are doing isn't working, you need to change tack to a more winning strategy. The key will be figuring out what went wrong, so that you don't repeat your mistake.
Survey software can help you find out exactly what didn't go right by gathering feedback from all parties after an event has happened.
By utilising both staff and customer feedback surveys, you can gain an accurate picture not just of your own people's perspective on events, but of the viewpoint that really counts – your clients'.
That way, after you've brushed yourself off from this setback, you'll be able to launch yourself into a renewed push for new business with the advantage of having examined your misstep in great detail to ensure it doesn't happen again.