Accepting Mistakes

Great inventions were inspired by mistakes. Entrepreneurs like everyone else 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. An organization 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 should grow by learning from their mistakes.

If an employee keeps on making the same mistake again and again despite training, coaching and direction, then that situation is not acceptable. It is no longer is a process of learning and ultimately hurts the organization.

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

Ravi Patel

www.patelCFOservices.com

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Published in: on June 6, 2017 at 4:47 am  Leave a Comment  
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Are You Really Sorry?

Everyone makes mistakes including Entrepreneurs.

What separates leaders is that when mistakes are made, genuine leaders offer a sincere apology. What does that mean?

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. In such cases one is not really sorry!

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 more sincere to the offended party and confirm that you are really sorry.

Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

Published in: on February 2, 2016 at 4:23 am  Leave a Comment  
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Recover from Mistakes

Some Entrepreneurs are just too much of perfectionists. But, they can’t afford to be so!

Entrepreneurs often try not to make mistakes. Sometimes they try too hard. Is this a good thing? Not making mistakes is good, but trying too hard not to make them could be counterproductive. Trying too hard to avoid mistakes often causes them.

Instead learn to recover, somewhat quickly, from mistakes. If one accepts that mistakes will happen, then the correct mindset should be to develop a process to recover from mistakes.

For Entrepreneurs this is even more important. First, they need to recognize that a mistake was made. If not, they might proceed too far down the wrong path costing them time and resources. Second, Entrepreneurs should train their people to recognize mistakes. Finally, they need to develop a well thought-out process to not only recover rapidly from mistakes, but also to learn from such mistakes and implement internal controls to avoid such faux-pas in the future.

Do the Right Things by recovering quickly and learning from mistakes.

Ravi Patel

http://www.patelCFOservices.com

Making Mistakes is Acceptable or Not?

Everyone makes mistakes! Great inventions were inspired by mistakes. Entrepreneurs also make mistakes, so their tolerance towards their employees making mistakes is understandable.

In general, Entrepreneurs should create a business culture that does not penalize people from thinking outside the box and making mistakes. An organization 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.

If an employee keeps on making the same mistake again and again despite training, coaching and direction, that is not acceptable. This no longer is a process of learning. It ultimately hurts the organization.

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 June 11, 2013 at 4:36 am  Leave a Comment  
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