We went to see Peter in the holidays as we thought we were in dire need of advice as we thought we had hit rock bottom. Apparently we hadn’t hit rock bottom yet as we did in fact make quite a few sales, it was just that our bikes cost way too much to make. So we had something to focus on in order to make profit.
Argyris (1991) suggested that success in the marketplace is becoming more dependent on learning. He further states that one of the most common mistakes when it comes to learning is that people are satisfied with equating it as problem solving. We can relate because every week we try to fix the problem that we discovered from our last rollover following more of a single loop approach. For example if we spent too much on advertising last time then we would cut advertising rather than asking why and whether or not there is another route.
We need to analyse our mistakes more and instead of just trying to fix what we think went wrong, try to look at how we can approach our situation because each week we try to fix our mistakes but our performance gets worse and worse. On the other end though we really need to get out of our hole we have dug ourselves and try to find a way to make a profit with our bikes instead of spending a lot of money to sell all our bikes. We have a lot to think about in the coming week in order to turn around our company and try to head in the right direction before it gets to the stage that we can’t come back. I would hate to see what rock bottom looks like if we haven’t hit it yet.
Argyris, C. (1991). Teaching smart people how to learn. Reflections, 4(2), 4--15