How to Turn Around Your Business Mistakes in Your Canadian Franchise

As a business owner, there will be times when things just don’t work out quite as you had planned. But don’t let that discourage you. Did you know that some of the world’s most successful people failed many times before getting to where they are today? Thomas Edison took more than 1000 tries before he successfully invented a working light bulb. J.K. Rowling was turned down by 12 publishers for her Harry Potter manuscript before it was finally accepted, and Oprah Winfrey was fired from her news anchor job before starting her wildly successful talk show.

The point is not to avoid mistakes but to learn from them. When you know how to turn your business mistakes around, it will help your Canadian franchise to become more successful.

So how do the best entrepreneurs move on from their mistakes? Here are a few tips:

Admit your mistake

If you make a mistake, own up to it. Simply hoping no one notices will only lead to a bigger headache. Taking ownership of your mistakes will help you begin to right the course and move on quicker. Plus, acknowledging a misstep can help you build trust among your team.

Explain but don’t excuse

Part of owning up to a mistake means understanding and explaining why it happened. You need to be able to accomplish this without trying to transfer blame or making up excuses. It is one thing to say, “I missed the deadline.” It’s quite another to say, “I missed the deadline because Employee X saved the file in the wrong spot and I couldn’t find it. And it was the weekend so I couldn’t get in touch with them.”

Come up with a plan to resolve the problem

It’s not enough to admit that a mistake was made. The next step is to come up with a solution. Apologize for the inconvenience and see how you can make up for the mistake.

Create a plan for prevention

Part of learning from mistakes is understanding how they happened and making provisions to prevent them from happening again. Implement processes and tools that keep you from making the same mistakes over and over again.

Keep Going

A setback in your Canadian franchise business can be a real blow to your self-esteem. It is important to remember though that mistakes – even costly ones – are not the end of the world.

When you fall, get back up. Learn from your mistakes and keep going. Keeping a positive attitude is key in turning your failures around.

Keep Perspective

Remember that failure is a part of life and business. Our mistakes can either hold us back or propel us forward. Don’t let a setback keep you from reaching your potential.

Ultimately, a big part of your success in your Canadian franchise will be determined by how you perceive failure. Do you see it as a defeat or do you see it as an opportunity to make yourself better? 

About FranNet Canada

FranNet is a 27-year-old company with roots in the U.S. Its purpose being to nurture every entrepreneur’s dream of business ownership. We actively employ a specific profiling and consultation method. This method is geared to each investor with a specific business model and based on franchise trends typically found in Toronto, Ontario, Vancouver, British Columbia, or Calgary, Alberta. The most lucrative Canadian franchise opportunities are waiting for you. For more details visit – http://frannet.ca/  

Mar 18, 2016