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Have You Ever Made A No-Brainer Decision Like This?

Wednesday, July 19, 2017

Decision Making

It has been said that there is no such thing as bad publicity and that might be true for the likes of Paris Hilton but most small business owners will want to avoid JB Hi-Fi’s latest advertising blooper.

This PR disaster has not only cost JB Hi-Fi a portion of their advertising budget but has damaged their reputation as well.

Many small business owners view print advertising such as mail-out catalogues as an important tool for building customer reach and depth. Using humorous, risqué or even mildly controversial content can really make an advertising campaign sing; get it wrong and it can backfire badly. 

In a recent catalogue JB Hi-Fi decided to market an X-Box console and games bundle with the term ‘Race Wars’. This term should have raised a question mark for anyone with even limited knowledge of modern history and current events. Unsurprisingly, the catalogue has caused quite a storm on social media and JB Hi-Fi has removed the catalogue and all references to the term.

How can I strengthen my decision making process?

The thing is someone at JB Hi-Fi obviously thought it was a great idea at the time and gave the go-ahead for the catalogue without thinking through all the ramifications.

We have all made similarly silly decisions at some point in our lives. Sometimes it’s the result of haste; sometimes we’re just too close to the situation or we don’t have all the necessary information.

It’s certainly true that small business owners are frequently time-poor and the decisions made in haste might not always be backed up by rigorous thought processes.

To avoid business bloopers and to develop sound decision-making processes it’s important that you gain as much in-depth knowledge of your customers (backed up by metrics) as possible and seek feedback from your team, advisers and even neutral observers. Don’t try and do it all yourself.

The support of expert advice around your business financial situation is just as important. Seeking regular financial advice is a great start to building healthy business decision-making processes.