July 5, 2017
Being an entrepreneur is all about making mistakes. Whether it’s a botched investors meeting or a poor team choice, the startup world is filled with failure. But as they say, it’s not how bad you fail but how quickly you get back up.
We asked five entrepreneurs how they make sure never to make the same mistake twice. Take a look at their answers below and keep your mistakes to a minimum.
Change Your Approach
“If you want a different result, you need to change your approach. It is as simple as that. Try to see the mistake as an opportunity to learn something. If you find something you can take away as a lesson, you are much less likely to repeat it.”
– Jessica Baker of Aligned Signs
Recognize Causes vs. Symptoms
“Frankly, it depends on how hard you get burned and if you recognize the cause vs. the symptom. If you make a mistake, you can blame the situation. However, you may continue to end up in the same situation in another way. The root cause may be that you suffer from low self-esteem, which leads to poor judgment, which drives you to the same type of situation. Step back and mediate on the true root cause.”
– O. Liam Wright of True Interaction
Never Stop Evaluating
“I’m always taking a step back to look at the bigger picture of my actions and their results. I’m constantly asking myself what I could do differently next time, which of my weaknesses led to me making a mistake, and so on. The important thing is understanding cause and effect. If you know how your actions tie together, it will make it that much easier to avoid mistakes.”
– Steven Buchwald of Buchwald & Associates
Take the Hit
“I will generally take the hit (and I’ve had some hard ones) and after I recuperate, I will look back and see where the mistakes were. Sometimes you might not even realize it for years. Once you realize where you went wrong, I think it’s second nature to try and not do it again. The key is to look back and reflect on the good decisions and bad ones.”
– Bryan Driscoll of Driscoll Insurance Services
Follow Your Instincts
“After you make a mistake, you should take the time to look back and identify what went wrong. Perhaps you decided to work with a business that wasn’t an ideal client, make notes on the red flags you ignored. If you’re gut is telling you to be cautious, turn down that client or send an email outlining any verbal agreements. Your gut will lead you and your processes can protect you.”
– Ryan Meghdies of Tastic Marketing
Read more about startup tips on TechCo
This article is courtesy of BusinessCollective, featuring thought leadership content by ambitious young entrepreneurs, executives & small business owners.
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