The Value of Feedback

(Guest Post by Steve Holub)

This could be a single sentence blog post – feedback is massively important.  End of story.  But there’s a little more to it than that.  I work closely with a business partner (my dad) and a couple of other colleagues, and I have for years.  After a while, you start to know what they will say given any circumstance or business decision.  Although you must always weigh your partner’s feedback and opinion on a given situation, it may lose a bit of clout due to this familiarity, and this seems like a natural, and unfortunate, progression.

In comes the third party voice.  I think everyone knows that sometimes you need to reach out beyond your immediate business circle to get some advice and clarity.  More often than not, they will confirm your previous assessment or decision, but this feedback is invaluable to moving forward with your decision.  You may have been stuck on a point, or you may have devalued a certain element over time, and the third party feedback can realign you with your goal and help you to make the right business decision.

I am a ‘founding member‘ of the 349 events group.  I work from home and every day I make business decisions.  Usually, I have to make them independently of feedback, and this has probably cost me a lot of time and money.  But more recently, I have gained access to this great circle of entrepreneurial minded people here in Guelph, and when I need some feedback on a major decision that can have lasting repercussions, it’s great to know that I can look beyond my immediate circle for input and guidance.  What is the value of having access to a group of objective, intelligent, business minded people for third party feedback?  Massive.  At the customer discovery session, there were four other 349 members present.  They offered their time and insight generously when I asked for advice regarding a new venture.  The feedback I received directly influenced a major decision regarding the fundamental web presence of the business.  This is massive.