Being Sincerely Sorry

Everyone makes mistakes.

What separates Entrepreneurs is that when mistakes are made, genuine leaders offer a sincere apology. How do you accomplish that?

How often have you heard someone say sorry and then add a “but?” In those cases there are all kinds of excuses after the “but.” All these apologies are watered down by offering excuses.

A sincere apology is just that – sincere! When you make a mistake, no matter affecting which stakeholder, just say a sincere sorry without any excuses or reasons. This will be more genuine than trying to explain what happened to cause that mistake.

To be even more effective, you should privately analyze the reasons for the mistake and establish corrective actions to prevent that in the future. This will appear even more sincere to the offended party.

Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

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Published in: on June 19, 2018 at 4:45 am  Leave a Comment  
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Let Learning Happen from Mistakes

Starting Entrepreneurs often exercise strong control where virtually all decisions are made by them. Entrepreneurs are not yet ready to delegate responsibility and trust their people with decision-making authority. Entrepreneurs do not want their people to make mistakes.

That is not the way to develop people and grow the company. Entrepreneurs have to be willing to allow their people to learn how to make good decisions on their own. This may result in a few mistakes, but let those be learning experiences rather than creating an environment of fear to make decisions.

Entrepreneurs should let their people make mistakes and learn from those situations. There is nothing wrong in having checks and balances to prevent unchecked major mistakes hurting the organization.

Managing a growing company is similar to watching a child learn to walk. Parents allow their children to fall so that they can get up and learn to walk. Entrepreneurs need to do the same.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Published in: on May 8, 2018 at 4:45 am  Leave a Comment  
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Making Mistakes

People make mistakes! Great inventions and discoveries were inspired by mistakes. Entrepreneurs also make mistakes, so their tolerance towards their employees making mistakes is expected.

Entrepreneurs should create a business culture that does not penalize people from thinking outside the box and making mistakes. A company cannot grow if no one takes risks just to avoid making mistakes.

Making mistakes is acceptable if it is during the process of trying new methods or ideas. However, it is essential to learn from these mistakes and prevent future occurrences. People grow by learning from their mistakes.

An employee that keeps on making the same mistake again and again despite training, coaching and direction should be dealt with. This situation is no longer is a process of learning but a performance issue. It ultimately hurts the company and people.

Making a mistake is acceptable. Not learning from that mistake is bad; making the same mistake repeatedly is worse.

Ravi Patel

www.patelCFOservices.com

Published in: on September 7, 2016 at 4:20 am  Leave a Comment  
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Forgive Yourself

Entrepreneurs are driven people and work hard to achieve their goals. Most of them want to do everything right and are impatient for results.

Like everyone else they too make mistakes. Some of these are relatively minor while others can be major and might even result in losing their company. When they make mistakes Entrepreneurs are hard on themselves as they feel totally responsible. How should they react?

Learning from mistakes is the correct thing to do and these blogs have stressed that point. Learn why the mistake was made and implement processes and controls to prevent future occurrences.

Depending upon the nature and impact of the mistake, Entrepreneurs often dwell on it. Entrepreneurs need to learn to forgive themselves for such mistakes. Forgiving one’s self doesn’t mean absolving you from responsibility. As long as it was a mistake and not a calculated act of unethical or unlawful behavior, forgiving themselves would allow Entrepreneurs to move forward positively instead of drowning in guilt.

Accepting responsibility, taking corrective action and forgiving yourself for mistakes is the right thing to do for yourself, your company, employees and family. Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

Published in: on June 10, 2014 at 3:14 am  Leave a Comment  
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