5 Ways You Can Turn A Mistake Into Money!


No matter how hard you try to prevent it, we all make mistakes. When a mistake happens to you or a member of your staff, you will have two choices. One is to minimize your personal or business culpability and expense. The other, to use this as a golden opportunity to build your brand and a lasting relationship with your customers by turning your mistake into money. I recommend the later approach and that you make it your standard of how you do business. Here is a five steps to get you started.

Step One:

Take full responsibility for your mistakes.

This will result in lowering your customer’s defenses and help the process of amicably resolving the issue. This simple act will go a long way towards building a bond of trust between you and your customer and we all know that there is no more valuable business or personal asset than trustworthiness. Don’t make excuses! Just make it right….and then make it more than right.

Step Two:

Let your customer know that you genuinely care about their frustration or disappointment.

That means that you will have to talk less and listen more. Then sympathize with them by genuinely caring about their experience. As they are talking, try mentally putting yourself in their shoes and experience on an emotional level what they have just gone through. Next and most importantly, ask what your business could do differently so that they or any other customer may never have to go through this again. You may be surprised at the answers you get back to this and it could be invaluable to taking your business to a whole new level and setting you above and beyond the rest of those in your same industry by guiding you how to provide an exceptional customer experience.


Step Three:

Turn your mistake into money by going the extra mile to make it right.

It is easy to make a simple return, but it is important to make sure that your customer is also happy. Look for any opportunity to meet even an unspoken need like offering an additional solution to your customer’s need that may have nothing to do with you or your business, but saves them time, money, extra steps, etc… That means you will need to be fully engaged with your customer. Do they look tired and spent? Ask a coworker to provide them with a refreshment while you continue to process their return. If your business is online this may be more difficult to do. I highly recommend the use of Skype or FaceTime as a way to make their experience more personal. Ask questions about how and why they were using your product or service. This may give you insights how you can serve them more in unexpected ways.

Step Four:

Turn your mistake into money by adding unexpected value in products or services that are relevant to your customer.

This could be in the way of a free sample which is a great way to introduce your customers to your new products and services. This works great online as well if you offer digital products or services.


Step Five:

This  step is key in turning your mistake into money!

Follow up about a week later just to make sure your customer is happy and ask if they have had a chance to try out the free gift you provided them and how they liked it. Take it old school and send them a personal handwritten note sent by snail-mail. The idea is to fully convey to your customer how important you think they are and how much you value them. And let’s face it, we could all use a bit more of that. Your customer is no different. This is the final and key step in this process of turning a mistake into an opportunity to create a personal relationship with your disgruntled customer and then with skill and care turn them into a raging fan!


Something to Help You Get Started!

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This is a great time to focus on your customer relationships. If you would like more step-by-step help to grow your business and generate more sales, then I have two recommendations for you to help get you started. The first is your personal copy of How to Attract More Customers and Grow Your Business. It is a quick read with tons of very practical ways of connecting with the customers who want to buy from you. My second recommendation is one of the most user friendly and results focused tools for small business owners currently out there. The Small Business Toolkit is packed full of tips and tools that my small business clients just like you have successfully used to grow their business. These are the same techniques that have helped me build my own company. This comprehensive Small Business Toolkit is usually available only to members of the Small Business Academy. However, with all business are currently going through I wanted to do something positive and reach out a helping hand. So, I am going to make it available to business owners like you for a limited time only. And yes, we ship anywhere in the world! Get yours now while it is still available!