Negative feedback is sometimes the best thing you could ever receive
Putting it out there again!
This blog is getting more and more personal, but through sharing real life experiences, entrepreneurs and business leaders are hopefully able to gain some insight into what makes an entrepreneur tick, mistakes that some of us make and some real life business goings-on that affect us in so many ways.
Last week, I sent my Information Memorandum out to a number of my friends. When I say friends, they are business leaders, and some of them are in the most successful 50 business people in Australia. The first lot of feedback was awesome. Immediately I was put on a high with positive comments and encouragement.
Yesterday, I received from 3 different parties some constructive feedback; Information Memorandum is too long, you need to have the financials in the IM, covering letter needs to say what the financial upside is and where's the Gantt Chart?
While the financial projections have been done for 5 years, I was told by a couple of parties that you only send this in the second contact after the person/company has read the IM. So, I have held off on this. I was also notified that I only need 3 years, but I am a bit confused because it is a 5 year plan. Not sure who to listen to here.
The Gantt Chart and manuals are all complete, but as with the financials, I was told not to send this through in the first instance.
There are so many differing opinions that it is hard to work out which direction to take. Perhaps a bit of everything is worthwhile taking into consideration afterall, these people do this everyday. Like most things, it is subjective to the person looking at the IM.
In any case, it was my first piece of constructive criticism which set me back momentarily and had me second guessing as to whether I should have sent it out without taking it to someone and going through it page by page.
Overall, I am happy with the result, but feedback should always be considered and if you put yourself out there, then you have to expect sometimes you won't like what you hear.
This blog is getting more and more personal, but through sharing real life experiences, entrepreneurs and business leaders are hopefully able to gain some insight into what makes an entrepreneur tick, mistakes that some of us make and some real life business goings-on that affect us in so many ways.
Last week, I sent my Information Memorandum out to a number of my friends. When I say friends, they are business leaders, and some of them are in the most successful 50 business people in Australia. The first lot of feedback was awesome. Immediately I was put on a high with positive comments and encouragement.
Yesterday, I received from 3 different parties some constructive feedback; Information Memorandum is too long, you need to have the financials in the IM, covering letter needs to say what the financial upside is and where's the Gantt Chart?
While the financial projections have been done for 5 years, I was told by a couple of parties that you only send this in the second contact after the person/company has read the IM. So, I have held off on this. I was also notified that I only need 3 years, but I am a bit confused because it is a 5 year plan. Not sure who to listen to here.
The Gantt Chart and manuals are all complete, but as with the financials, I was told not to send this through in the first instance.
There are so many differing opinions that it is hard to work out which direction to take. Perhaps a bit of everything is worthwhile taking into consideration afterall, these people do this everyday. Like most things, it is subjective to the person looking at the IM.
In any case, it was my first piece of constructive criticism which set me back momentarily and had me second guessing as to whether I should have sent it out without taking it to someone and going through it page by page.
Overall, I am happy with the result, but feedback should always be considered and if you put yourself out there, then you have to expect sometimes you won't like what you hear.
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comments ( 9 )
David
18 May 2012Any feedback is good feedback, whether its praise or criticisms. Having worked in hospitality, feedback is one of the most important things for a business. Any bad feedback we recieve from customers are taken seriously so that we can use it to improve service and quality of the food. Feedback is what gives us direction that is vital to help us grow.
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ReplyMarco van Olst
20 Mar 2012Negative feedback is the way to grow in business, in youre private life and at school. Sometimes it is not nice to get 'negative feedback', because you think you are doing right, but someone else doesn't. But actually you can not say 'negative feedback', because it isn't. Negative feedback is in most cases constructive critisicm, and you can learn something from that feedback. So I appreciate it when I get 'negative feedback', because I am sure that you can reach your goal, and it helps you to improve yourself.
ReplyBrittany
19 Mar 2012Constructive criticism is such an important aspect to help develop skills. Hence the name "constructive", the feedback is meant to make you improve yourself yet sometimes it is hard to accept.
ReplyBy listening to an objective viewpoint, you may realise things about yourself that you were unaware of which you can improve.
Constructive criticism can happen in any form, from your boss to your parents to your boyfriend, the most important thing to do is listen and take it on board.
Angela Ngo
15 Mar 2012Now that I'm about to graduate from my design degree later this March, I've learnt a lot of things not only about what's out there in design but also about myself much more, and one of the biggest lessons I've learnt is that you should never be afraid of all kinds of feedback when it comes creating successful projects. I use to be quite fearful of what others might think of my approach to a certain kind of project and whether I was doing right or wrong to the point there were times that I didn't want to go to class mainly because of it. I learnt to let go of it when I got to third year when a certain university tutor of mine told a very fearful me to try and believe in myself a bit more and if I still got it wrong, it's okay, there will always be a way of fixing the problem.
ReplyJosh
15 Mar 2012In my short period of time I have been on this earth, I have recieved many a constructive feedback, especially in terms of my sporting life. Taken onboard correctly, I have developed my game and and I have no doubt that I wouldn't be as good a player as I am today, without taking onboard and listening to the constructive criticism.
ReplyApril Baker
14 Mar 2012Negative feedback is wonderful, its called constructive criticism and if you take it and use it in a positive way, it can do wonders!
ReplyFunny story, I once had an argument with a woman who sold me icecream. The second I was handed the icecream by her young staff lad, it was dripping down the cone and onto my hand! I politely called the lady over to let her know that perhaps her freezer may have been malfunctioning or something, happy to eat my icecream and not complaining, but just giving her the heads up on her equipment. Well! She tore strips off me, blamed everyone else, blamed the boy for not serving it fast enough, even blamed the WIND (!!). I couldnt beleive it!
Had she have taken my "constructive criticism" and used it as a tool, she would have had repeat customers and better product, happier staff and probably wouldnt have had to throw a whole case of icecreams in the bin! Silly woman.
Cedric
14 Mar 2012I really appreciate feedback because for me is the best way to improve, to evolve and to keep my feet on the ground!
ReplyWhen I'm working alone on a project I am stuck in my ideas and having feedback gives me the opportunity to take some distance with my work. That could lead me to change the way I'm thinking, to have news ideas and/or simply to refresh the vision I have of the project.
Anthony Calfapietra
14 Mar 2012Sometimes as much as I can dislike feedback, at the end of the day it's this feedback that can improve the way you work and act.
Reply