Growth-Optimizer: Entrepreneurs learn through feedback
Growth-Accountant | November 2022
Entrepreneurs receive the most feedback of all people. From internal to external, from all including their families and funders. Feedback can reveal blind spots, be most helpful or just be plain irrelevant. Making sense of it in a systematic way is critical, and then taking relevant action imperative.
Feedback arrives from internal and external sources. A considered approach is required to obtain value from feedback and not to be destroyed by it. Learning is required to stay ahead of the game. Feedback and reflection help with the direction, pace of the learning, and the action required.
Internal feedback shed light on the following matters:
- Staff morale
- Productivity
- Staff turnover
- Walk-the-talk gap
- Lack of clarity
External feedback provides perspective on:
- Business brand
- Entrepreneurial effectiveness
- Market share
- Customer satisfaction
- Family matters
Regardless of where the feedback comes from the process of consideration remains the same:
Decipher the feedback:
Determine why the feedback is given.
Is it relevant?
How can it add value?
Who is giving the feedback?
Lone voice or recurring theme?
Learn and action:
Unpack feedback with supportive people or your Growth-Accountant to gain perspective
Reflect and decide what is pertinent
Make necessary changes
Take relevant action
Ignore the rest.
The most difficult feedback for entrepreneurs revolves around:
- Blind spots
- Negative behaviours
- Lack of courage
- Performance deficits
- Recurring feedback on a matter with no change
The process remains, but also a sense of urgency to work through the above and to find some courage to address it. Nobody is perfect, but if it is true acceptance and small actions steps save the day and many relationships and ensures a sound profitable business.
Contact Anne, your Growth-Accountant on how to grow from feedback.