If you will look at the Steve Barbarich complaints made some years ago, you may have thought that no business owner can recover from such. However, one of the things that made Barbarich impressive as an entrepreneur is his ability to bounce back after failure.
He was accused of running a scam. Some people were already questioning his business whether it was a Steve Barbarich scam or fraud. So how did he disprove to anyone that the Steve Barbarich fraud claims were baseless?
For one, it's a reality that it was hard to convince customers who had a bad experience with the company. On the other hand, it is also not an impossible feat. In 10 unhappy customers, there is a chance that you could still keep 5 of them. And that's what Steve Barbarich realized. But of course, it involved a lot of effort.
Show Sincerity
The first step is to always be sincere with your intention to correct the mistakes. A lot of businesses make the mistake of not showing sincerity whenever they make a mistake. What they don’t realize is that customers tend to recognize the red flags immediately if a company is doing a standard PR stunt in an attempt to save face.
To show sincerity, it's always a good start to admit mistakes. Barbarich's business released an apology for all the products that didn't work according to how it was advertised. The company also apologized for the delayed response.
Of course, the best form of sincerity is acting fast on their concerns. There were instances when Barbarich himself responded to the customers who had a bad experience with the products that he sold. He processed the returns personally as well as the refunds. Even if it means decreasing the overall profit margin, this is a good move in the long run.
Meet Halfway
The next step is to always compromise with the customers. There are instances when customers have crazy demands whenever they felt that the product or service wasn't what they asked for. Barbarich realized that saving his business means that he also has to try to bargain with customers. For example, if the customer wants to have a refund, Barbarich asked if he'd accept a coupon code instead and in exchange, he or she gets to keep the product. At times it works, but there were also instances when it doesn't.
Hire the right people for the job
Next is to hire the right people. If you have the right people, it becomes easier for the business to solve problems. With the right people working for the company, it is also easier to address the concerns that would make someone make a bad review about the company.
When Steven Barbarich started his ventures, the only mistake that he did was to start big without having the right people aboard. He also lacked funds preventing him from making big moves. However, he admits that starting your own business is still risky and should be approached with care. Steven Barbarich realized that going to business school can help significantly reduce the chances of failure.
