Everyone makes mistakes and it’s no different for entrepreneurs launching a new business. One of the biggest challenges for entrepreneurs is overcoming their fear of failure. If you are starting any new business be assertive to make mistakes. This is very natural as you must be facing a new challenge every day, it’s like being a circus ringmaster. It’s normal to have many things that you have to manage. If you don’t make mistake, you will never able to learn. You have to be open minded, creative, adapt and above all learn from it.
If you analyse the successful people and unsuccessful people, you will observe that the successful people are masters at learning from their success and failures. Remember, when you make mistake, there are only three things you should do about it: admit it, learn from it and never repeat it.
According to statistics, 70 percent of all decisions we make will be wrong. That’s an average. This means that some people will fail more than 70 percent of the time. So, going by the statistics, if people don’t learn from the mistakes, they would have destroyed the world but that is not the case. Learning from mistakes is core part of human learning. As an entrepreneur you have to create an atmosphere of accepting mistakes and learning from them.
With a little bit of planning and wisdom you can avoid making mistakes. There are several ways in which you can deal with your mistakes we have advised few of them: –
- Acceptance of Mistake: First thing to do when you realise that you made a mistake, accept the mistake and analyse it carefully. Without attributing blame or responsibility, try to identify the ways in which we can rectify the mistake. With this analysis you will learn a lesson and you will not repeat the same mistake. The worst thing you can do is to make excuses or blame someone else for the mistake.
- Trial and Error Approach: Trial and error is the main tool of entrepreneur, after all if you are creating a new product, making an innovation then you have to try new things and be prepared for making mistakes. Without this you will not able to innovate a new product. By trying new methods, you will finally get the proper solutions for your problem.
- Be Organized: It’s the key to success for small entrepreneur. Prepare a task list, things which you have to do and list them in to priority. It may sound simple but it is not so easy task. This will improve your productive working capacity and it always works.
- Identify the discrepancies: It’s better to quantify if possible, the result which you were expecting and what has happened. This will help you to analysing the impact or deviation.
- Learn a bigger lesson: Across multiple unsuccessful initiatives, you can determine ways of thinking, habitual actions, and repeated poor judgments. From here you can discern the bigger lessons you need to master in order to ensure you only make new mistakes.
Mistakes are bound to happen, how you deal with them and learn from it makes the difference. If you can balance limiting your mistakes and take constructive steps then you can definitely achieve success.
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