While launching a startup or a business, you cannot predict challenges that might develop at any time. Despite making thorough plans, you cannot forecast everything and problems are bound to crop up. That is the reason, you as an entrepreneur should have a failover plan to solve business problems effectively.
Your business can be big, medium or small, but you should have a contingency plan for unexpected issues because they are a part of every organization. Regardless of how well you forecast, plan and test, challenges will always emerge your business. So, you must have the right problem-solving plan to tide you over such instances and allow you continue to function even in the middle of difficult circumstances.
You can adopt these steps as effective problem-solving strategies…
1. Evaluate The Issue
Whenever a problem emerges, you should evaluate it properly instead of trying to find a solution immediately. If you fail to define and evaluate the root cause of the issue you may develop a strategy that will fail to work effectively and the issue will crop up again after a while. This is similar to treating the symptoms instead of the root cause. And to address the root cause, you should look at it from every angle before finding the right solution.
2. Consider Multiple Solutions
Your success over the challenges facing you depends on how well you can devise solutions against them. A design thinking approach is the best strategy because it allows you to see the issue from different angles and helps you to create different solutions that are possible. And to make it work your business should involve different people in this problem-solving process.
3. Perform S.W.O.T Analysis
A S.W.O.T analysis is a great way for your business to look into its strengths and weaknesses. For this your business should document all the external opportunities and threats. This analysis is carried out to make your organization be more self-aware. This strategic planning helps you identify the problems before they can affect your business. And also makes it easier to develop solutions even before a problem can arise.
4. Take Ideas From Your Team
While performing an analysis, you should seek input from your team to get valuable ideas and opinions on the challenging issues the business is facing. The feedback you get from your advisers and your team can make your moves faster and more efficient in your problem-solving plan. The more diverse the people you bring into the problem-solving process the better are your chances of coming up with effective long-term solutions.
5. Prioritize Solutions
When you allow different people to help you come up with varied solutions for your problem, you increase your chances of having multiple solutions to any common business issue. With all the options you have, you can evaluate the pros and cons of each solution and pick the best options. Always remember that none of the solutions are foolproof. You must take time to evaluate all the possible solutions to increase your chances of implementing the best option.
6. Take a Decision
To effectively solve a business challenge, you should first decide on the solution to implement. The decision-making process involves settling on the right course of action and this must be done immediately to avoid greater losses. If you take too long to reach a decision it will impact your business much more. When you reach a possible solution you should make sure you implement it as soon as possible.
7. Track Progress
The best way to know if you have solved an issue successfully is by keeping track of the solution you applied. You can get it by knowing what successful problem-solving looks like and by deciding how it should impact your business.
Problem solving is a continuous process. So, do not think twice if you have to return to the drawing board and perfect your solution if you find any loopholes that might need perfecting.
The steps mentioned here can make you an efficient problem solver for your business. You can take time to practice and develop these skills so that future problem solving becomes much easier for you.
About the Author
Mr. Harish Jagtani, a philanthropist, visionary, businessman of Indian origin, currently based in Democratic Republic of Congo for more than 20 years now, is one of the most reputed business owners in the Indian diaspora as well as the entire expat business community in DRC. The business house caters to multiple domains, including but not limited to Domestic as well as International Air Cargo, real Estate and infrastructure development, healthcare, hospitality as well as CSR.
Coming from humble beginnings from Jaipur, Rajasthan, Mr. Harish Jagtani has come a long way in building this conglomerate with a strong and clear vision, sheer dedication and grit. Starting with a small job in sales, Mr. Harish Jagtani today is a proud and righteous owner of a fleet of airplanes and multiple businesses that cater to the basic and advanced needs of the people of Dem. Rep. of Congo in different sectors.
1 réflexion sur “7 advices on tackling business challenges – by Mr. Harish Jagtani”
Thank you so much for the business idea.