Are Your Mistakes Preventing Your Business to Succeed?

| December 26, 2005 | 0 Comments

To continue our discussion of the book “Will Your Next Mistake be Fatal,”
the author listed very interesting insights in the last chapter of the book.

Some of these insights are definitely worth pondering upon:

  • Fly the airplane: It is easy to get distracted and there are times when you need to have a stern talk with yourself and ask if you are spending time on the most important things
  • Execution mistakes can be generated through a lack of resources or knowledge (that is why it is very important to go to a business armed with all the knowledge you can muster; or get someone else to help you who knows the business inside and out)
  • Seek advice and seek to understand assumptions: Failure to seek and use advice and disregard data on customer behavior is a significant cause of mistakes
  • If something does not make sense or feels confused, STOP and figure out what’s going on
  • A very successful business can blind you to opportunity
  • Train for the “can’t happen” scenario
  • Open your mind past your blinders
  • If you do not make any mistakes, you may not be taking enough risk, but failing to take any risks at all may be the most dangerous type of mistake that a business can make
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