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importance of feedback in business

Feedback is a gift. Accept it whether it is positive or negative.

Your ability to seek and accept feedback helps you reflect professional behaviour, improvise on a continuous basis and attain a competitive edge in the market.

In this blog, I’m discussing how important feedback is and how you can create a simple feedback system in 5 steps to achieve on-going business and personal growth.

small business tips

Seeking Feedback From the People You Trust

As a professional, seek feedback from your mentor to discover your talents and potential strengths. Ideally, your mentor would be an experienced professional in your desired field who shares your values and definition of success and is willing to help you achieve your goals. Their advice and feedback can shape your professional journey and provide you with unique ideas and approaches. Also, look for people you trust: your family, friends, your business partners. They can be a great source of information, advice, and motivation.

Seeking Feedback at the Workplace

As an employee, seek feedback from your superiors, colleagues and co-workers to improve your performance and accelerate your career. As a business owner/manager, ask for feedback from your employees as this information can help you look at yourself in a different light. You will be able to identify your employees’ perception of you and how your actions and decisions impact them. This can be specifically insightful if you are looking to stimulate trust and inspire better performance from your employees as a leader.

Seeking Feedback From Your Clients and Customers

Most importantly, seek feedback from your clients/customers and value their opinion. Information that your clients give you is precious, unique and can help you stay ahead of competitors. Ask them how happy they are with what you offer, what they think about their overall customer journey, do they feel if something is missing in your product or service. Also, learn about your competitors through them.

You absolutely need to ASK. Your clients will not give this information to you on their own.

5 Simple Steps You Can Incorporate to Create a System to Receive Feedback for Success

First step is to ensure that you have those procedures established to receive regular feedback and then the second step is to make sure that you use that information to improvise, grow and do better in business and your personal life.

Don’t forget to thank people for their time. If someone has taken the time to provide you with that valuable information to help you grow, thank them!

Here are 5 simple steps you can incorporate to create a system to receive feedback for success:

  1. Make a list of people you trust and would like to receive feedback from each month/quarter, such as your mentor, clients, family members, friends, etc.
  2. Add a column to your list to write how often or when to receive feedback. For example, you may choose to receive feedback every month from a mentor but only need to ask for feedback from clients after providing services.
  3. Prepare a list of questions you want to ask. For example, to attain customer feedback, you might have to create a short survey with questions to help you assess how satisfied they are with different aspects of your product/service.
  4. Schedule meetings in a repeating routine as per your plan drafted in step#2 – for example, every month/quarter/year, etc.
  5. Don’t forget to thank people for their time.

Do you consider feedback as an essential tool for your personal and business growth?

If you are looking for some book recommendations to level up your game, here are my top ten must-read business/life-changing books that will help you shape your entrepreneurial journey and achieve a better work/life balance.

For more inspiration, follow my business page on Instagram and Facebook.

Also, would you like to connect with me on LinkedIn? You can send me an invite here.

Virtual Business Manager Australia
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