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How To Handle Mistakes When You Own A Business

It’s not nice to know we’ve made a mistake. It can feel as though we’ve let ourselves down, let alone other people. It can feel as though it’s a big flaw that causes many different problems. Yet we all do make mistakes, even when we’re running a business. In fact, this might be the time when more mistakes are made than any other – or at least an equal amount. That’s to say that business owners, no matter how much experience and knowledge they might have, are not immune to errors. As human beings, a mistake is absolutely possible. With that in mind, here are the best ways to handle mistakes when you own a business. 

Acknowledge Your Mistakes

The first step is to recognize your error and accept the blame. Taking ownership of your actions and realizing how you contributed to the mistake is empowering. It demonstrates not just that you are eager to take charge but also that you have a moral compass. Furthermore, owning up to your shortcomings makes you more approachable.

Don’t feel like you have to be flawless all the time. Admit your shortcomings honestly and openly. This will not only make you a more effective leader, but it will also help you assess the situation more accurately. If you are not honest about the problem and where you stand, you really won’t be able to solve it.


Evaluate What Went Wrong

After realizing your mistake, you should investigate its causes. Think about what went wrong and how it might have been prevented. Since there is always room for improvement, it is worthwhile to do some work in order to determine what went wrong or at least where adjustments could have been made.

Even if it may not be the most enjoyable thing to be doing, the process must be completed. The most important skill for dealing with setbacks is the capacity to analyze the experience and draw useful conclusions.


Fix The Problem And Move Forward

Once you’ve recognized the mistake and figured out what went wrong, you can begin to put things right. The issue is that we can easily get stuck in the past when we try to learn from our mistakes. In other words, it’s simple to keep thinking about the issue and speculating about possible solutions without actually doing anything to make things better. This is the worst of both worlds. 

If you want to address the problem, you need to know what caused it, but there’s no point in dwelling on the past. Assuming you have already taken corrective action to avoid the same mistake happening, like hiring an automotive repair lawyer, you should now move forward. This is crucial as you don’t want to be weighed down by your past failures. 

When you are starting your business, and even as you go on and gain more experience, you will inevitably make some mistakes; that’s human nature. The key is to take the lessons learned from failure and grow from them. You’ll be able to build a stronger business and take the next step forward.


Edel Alon
Edel Alon
Edel-Ryan Alon is a starving musician, failed artist, connoisseur of fine foods, aspiring entrepreneur, husband, father of two, geek by day, cook by night, and an all around great guy.


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