5 Simple Steps In Gaining Value From Mistakes

It’s important to focus on success and to keep your energy driven in an optimistic direction. There’s also value in seeking out the wisdom of others; specifically in the area of MISTAKES! Think about it – why would you make the exact same mistake someone else just made?? Kinda insane… How much time do you spend assessing the mistakes of others and keeping that information in your entrepreneurial toolbox?

There’s a mound of information out there on what “not to do”. One recent blog posted “7 Inexcusable Mistakes”. This blogger suggests you avoid things such as running an “idea” instead of a “business”. He also recommends you avoid ignorance around social media. Another blogger identifies “10 Stupid Mistakes” every entrepreneur should avoid. This blogger states you should avoid spending too much money and cautions you to better define your customer. Just google the topic and watch the pages of resources that pop up on your screen…..

BossStart wants you to take a 10,000 foot view of mistakes. Step out of the weeds for a moment and think about your passion project and how you are incorporating wisdom (learning from credible folks) into each day. Here are 5 simple steps in gaining value from mistakes:

  1. Commit to assessing the mistakes of competitors as well as entrepreneurs in neighboring businesses.
  2. Stay confident in your ability to take a risk – even if others have failed before you (Btw, #1 has to happen or #2 won’t work!)
  3. Soak up your personal mistakes!! You’re going to make mistakes and they’re going to be painful. If you learn from them – they become valuable.
  4. Talk openly about your mistakes. Customers respect companies that remain authentic and companies that commit to correcting gaps. Think about Tylenol, Toyota, Domino’s Pizza – the list is endless. These organizations made critical mistakes. They also acknowledged the mistakes, accepted ownership, and made corrections. This all starts with being open.
  5. Give your associates (employees) the opportunity to do the same. Integrate this learning process in to your culture. Give your people the freedom to make a mistake, talk openly about it, learn from it, commit to avoiding it in the future, and move on to the next one!

Have you ever watched a fantastic magic show?? Maybe you’ve seen David Blain or David Copperfield?? They are master’s at the art of magic. You know how magicians will do a trick where a cage or box looks completely empty and then – with the snap of a finger – something amazing appears!! Like a new car, a tiger, or 10 Dallas Cowboy Cheerleaders – they just magically appear. Sometimes that’s how a mistake shows up! You didn’t see it coming – it just appears right in your face. At BossStart – we know the magic is in paying attention. Use the 5 simple steps to bolster your passion, your business or whatever it is that you do.

About the Author: Jacob Ballard

Jacob is an Entrepreneur. He is the Co-Founder of BossStart and also operates the web-based business iWebXpert.com. He has a degree in Marketing from USF in Tampa, FL. Jacob uses his experience from founding numerous businesses to enhance the entrepreneurial adventures of BossStart readers.

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2 Comments + Add Comment

  • This is an AWESOME!! article that has a lot of tools you can apply to your own life, even if your not an entrepreneur.

    • Agreed. Excellent advice to everyday life.

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