Every business makes mistakes. As a leader, you’ll be responsible or at least accountable for most of them. The best leaders don’t let their bad decisions define them. A simple way you can accomplish this is by not reacting right away to every mistake, but reacting in the right way, whether that means rectifying the issue immediately or learning a valuable lesson and moving forward.
Source: Forbes, August 13, 2018. Link. Mistakes are opportunities to learn, especially for startups entering a new market. When you come up with an innovative product or service, it’s often hard to understand why nobody else has solved the problem already. You start to think that the existing players in your market must be complacent and your success is inevitable.
INSIGHTS: While mistakes are learning opportunities, making the same one over again and expecting a different result is the business definition of insanity.