How To Use Feedback To Improve Your Business

Feedback can be a valuable tool to help you improve your business. In this episode of Four Minute Fixation we discuss how you can use feedback to gather intelligence about the products you sell, the service your company provides and the experience clients have with you.

We also discuss the type of feedback you should consider seriously. Believe it or not, all feedback is not equal. You must understand the difference between feedback you should ignore and feedback you should take seriously.

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Here is the transcript from this episode of Four Minute Fixation:

Hi, I’m Dave Lorenzo. I’m the owner and founder of Valtimax Consulting, and today I’m fixated on feedback. That’s right, I love getting feedback from people who watch our videos, read our articles, listen to our audio programs, and attend our events. That feedback has enabled us to serve you, our clients, in a better and more efficient and effective way. I solicit feedback everywhere I go, and I welcome it. Especially, at the Four Minute Fixation. I want you to know, that when you watch these videos, if you give us feedback, we take each and every single comment, question, or concern to heart, and we adjust accordingly.

Now, I’ll tell you that in your practice, or in your firm, or in your business, feedback is critically important. But feed back is important only when, it can be constructive and helpful. Now, if you, are getting feedback from someone and you haven’t solicited it, or that person’s not a customer or client of yours, I encourage you to just completely disregard that feedback. You heard me correctly. When you’re getting feedback from people who are not clients or customers, people who don’t vote with their wallet, that feedback is absolutely useless to you.

You see, feedback from people who are not looking to help you, is only about them. Feedback from people who are paying you, or who succeed when you succeed, is constructive, and that’s better. That’s about you, it’s helping make you, a better person. Helping make you, a better lawyer. Helping make you a better professional or business executive. Here’s the rule of thumb when it comes to feedback. Focus on getting feedback from people who vote with their wallets. Ask for feedback from people who are paying you. Ask for feedback from people who are qualified to deliver that feedback to you.

Now what does it mean for people to be qualified, to deliver that feedback to you? Number one like I said, they’re paying you. Number two, they have a problem you can solve. They’re people who can legitimately invest more in you. More of their time, more of their money, more of their effort, and number three, they have the ability to decide whether or not to continue working with you in the future. This is critically important. Often times, we’ll work with leaders of large companies, and those leaders will be completely happy with the work we do. They’ll be thrilled with our relationship. The relationship will grow, and it will be deeper and deeper. It will get deeper and deeper over time.

Then we meet with people who are, either department heads or aligned business heads, and they’re disgruntled or disenfranchised in some way, because of something that’s happened to them in the company. They provide us with feedback that’s completely negative. Why? Because their attitude is negative. That feedback is about them, and it’s not about anything that we can do, or anything that we can control. That’s today’s fixation. Focus on feedback from people, who can actually have an impact on your future. Who can actually make something happen in their company. Who can actually help you, get better at serving and helping them.

Only accept feedback from people to whom, you are valuable. I’m Dave Lorenzo, and this is a Four Minute Fixation, and I want your feedback. We’ve got over 20 of these episodes under our belt now, and I’m proud to say we’re going strong.

If you want to give us feedback, you can find me at FourMinuteFixation.com.

On Facebook at http://Facebook.com/FourMinuteFixation

or on Twitter @TheDaveLorenzo

I love your feedback, keep it coming.

I look forward to seeing you, again soon.

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Watch this episode of Four Minute Fixation and you’ll be on your way to feeling better.