A lot of times when we are faced with a problem, we don’t always know the best way to solve it.
A problem might seem like a small one at first, but it can quickly turn into a big problem especially in business. Guest author Bertram Winberg shares nine strategies with us that will help us solve both simple and complex problems in business (you can find more information about Bertram Winberg here).
Challenging Times For Business
The COVID-19 situation in Denmark has made it a challenging time for most businesses who have been forced to innovate to survive. How does one go about solving business problems? The first step to effectively solving any business problem is identifying what it is you are trying to solve.
If you are facing multiple problems, you need to understand that it is difficult to solve all these issues in one go. You must first isolate the most pressing issue and solve that first as only then can you move on to other aspects. After you identify the issue you are facing, you can use our nine-step process to get a handle on whatever problem your business is facing.
Solving Problems By Going Online
Some companies have managed to solve their business problems by going online. A good example of this is the online gambling industry. Land-based casinos in Denmark suffered significant losses due to the lockdown.
With COVID-19 still a threat, most casino operators are not sure when they will be able to get back to business as usual so players need to stay content gaming at home. The pandemic has led to the increase of licensed operators. Some of the new industry actors are land-based casinos who made their move into the online space. If you live in Denmark and miss going to the casino, you will find a number of top online casinoer uden NEMiD, as well as many with the Danish license for you to play at.
Of course, moving online is not that easy for the majority of the industries. The nine steps listed below will help you to find solutions to your business problems, in case it is not an easy fix.
1. Data Will Provide You Solutions
The most important thing you can do at the start is to get as much data as you can regarding the problem. What you cannot measure, will be difficult to manage and solve. Once you get the data you can then begin to analyze numbers and information to see where it is going wrong.
2. Root Cause Analysis
Spotting the root cause of a problem is often the best way of finding a solution. Determining a problem’s root cause helps you address and resolve it permanently.
3. Look At The Problem From Different Angles
There are multiple ways of tackling a problem, but oftentimes we end up looking at things from just one perspective. Sometimes you might need to get a perspective from a trusted source or a business consultant.
4. Try To Avoid Risky Solutions
It is important to take the time to weed out the risky solutions to minimize the number of problems that arise from the decision you take. By eliminating them, you are able to focus on more constructive solutions and find ways to solve the issue without creating any new ones.
5. Choosing The Best Solution Possible
Here you must think about the problem’s scope, complexity, impact on the organization, and cost of implementation. Using all these pieces of information, you have to commit to one solution that you believe will work best for your needs.
6. Implementing The Solution
Next, you will have to lay out the steps to carry out your solution. In the business world, time is money. Be sure to develop a plan that has the lowest potential to disrupt your business. No matter how great a solution might be, it will be useless if your business gets significantly interrupted.
7. Setting Realistic Deadlines
Your solution will only become a reality when you are able to set realistic deadlines for each task involved in it. Do not forget that the main reason that causes delays or failure of any business decision is not planning, but poor timing of the execution of each action in relation to other actions.
8. Monitor The Results Of Your Solution
Make sure that the proposed solution has been successfully implemented and is producing expected results. Be ready to scale it up so that you could apply it in other areas of your organization with equal success if need be.
9. Review Your Problem-Solving Experience
Your most effective problem-solving techniques will come from experience. By reflecting on your experience, you will be able to develop an ability to focus on the factors that influence problem-solving. As you gain experience, you will be able to anticipate problems and improve your effectiveness in solving them.
It is important to continually review strategies after they have been used so that new insights can emerge from the experience gained through the actual usage of the problem-solving method.
The steps listed above might come across as very basic but remember that most business problems are caused because basic rules were violated!