We have all made mistakes. But have you made any monumental ones? Have you made either a personal or business decision that was so horrific that it cost you dearly, either in terms of money, time or relationships?
The fact that you made one isn’t the issue. To me the issue is how you recovered from it, how you returned from the disaster, how you started again. If it wasn’t possible to recover from those monumental errors, the streets would be littered with people, businesses and personal tragedies. We all read about millionaires that have lost their fortunes many times and found ways to start over and succeed. What is it that allows some people to lift themselves up and start again?
From a personal point of view:
From a business perspective:
I once heard a story about Tom Watson, the iconic leader of IBM from 1956 till 1971. He had hired an executive and gave him $10 million to start a new division at IBM. It was a dismal failure. Watson called the exec into his office and sat him down. Watson asked him why the exec thought he was called to his office. The exec replied, “you’re going to fire me.” Watson responded, “Hell no, I just gave you a $10 million education. Now I want to see what you learned from it.”
Use your failures as a stepping stone to your next success. If Tom Watson thinks it’s a good idea, you should as well.
Sources:
https://www.themuse.com/advice/your-foolproof-guide-to-moving-on-after-you-messed-up-at-work
https://www.entrepreneur.com/article/281251
https://www.entrepreneur.com/article/289895
Most business owners get financial reports monthly: Profit and Loss, Balance Sheet, Statement of Cash Flows. Some look at them
I’ve seen it happen often. An employee walks off the job, and there is a sudden scramble in the office.
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