How to find solutions for business problems

Business problems happen to the best of us but when they do happen, one way of looking at a problem when it’s identified is to say to yourself “there has to be a solution for this.” Business problems are not necessarily bad, sometimes they could simply be a demand to find a better way of doing business, an opportunity to generate more profit or increase your business capacity.

Many people tend to falter by panicking, which leads to find a short term solution to a potentially long term problem.  What you need is a systematic approach to identify and analyse the problem in seeking a solution. Thinking the problem will go away with no action on our part is just postponing disaster for another day.

This post will cover one way to effectively deal with business problems.

1. Analyse the Problem. 

To find the best possible solution to any problem requires you to identify and analyse what the challenge is.

Questions to ask yourself or your team:  

• What is happening to create the problem?
• How does the problem present itself?
• Who is it happening to?
• When is it happening?
• Why is it happening?
• Where does it happen?

Problems are normally a formation of small intricate and related issues, so the first step is to break the problem down into smaller components and tackle them individually.  You can use a simple diagram such as multiple cause diagram to help you clearly define your problems.  Google ‘multiple cause diagram’ to view a sample online.   You can also use this diagram to solve personal problems too.

2. Define the Problem

Write the problem on an A4 sheet of paper.  You will need several “whys?” to be able to identify the root cause of the problem you are facing in your business. You can segregate your problems into a few broad sections such as People, Finance, Organisation and Marketing – an example is given below:

People: Think about the people that are the cause and effect of the problem

Finance: What financial constraint are you facing or how does the problem affect the business financially?

Organisation: Is the current business setting a solution or a problem?

Marketing: is marketing plan or lack of part of the problem?

3. Separate the Components of the Problem

When you have done the above, it should help you define and analyse the problem in more detail. You will also be able to separate the key features of the problem, the symptoms, what is affected and how. It is wise not to jump to conclusions too quickly but analyse each aspect of the problem from various angles to be able to come to a well-defined conclusion.

Within your analysis, it is common for solutions to start to emerge as you consider the various ways of dealing with the problem.  Make a note of these as they come to you.  It is important that you come to a conclusion that you are comfortable with and one which you know the solution will make positive changes to your business.

Give it a Try

Go ahead and get an A4 sheet and think of one thing you will like to change/solve in your business or personal life and let the analysis begin!!!

How do you deal with your business problems?  Share your tips in the comment box or email us at ask@businessfirststeps.co.uk

I wish you good success.

Temi Koleowo