My students learn very quickly that my favorite source of material to teach from comes from my missteps and mistakes. Gregory Go and Glenn Stansberry have pulled together a collection of 101 mistakes from a multitude of entrepreneurs at American Express OPEN. Here is how they describe their motivation for this this effort:
Let's be honest: running a small business is not an easy task. Especially in an economic downturn. Small business owners are keenly aware that mistakes can be very costly at this point in time.Indeed!! I shared a couple of my own mistakes -- or should I say "shared my experience" -- with them for this collection.
Yet in order to have success, at least a few mistakes have to be made along the way. It's a part of building and growing. Oscar Wilde once said 'experience is the name everyone gives to their mistakes.' And even the most successful business owners have had their fair share of blunders.
This is very true. It's making that one mistake that costs you and every decision afterwords is then taken into more consideration.
I do not dispute the fact that Experience is the Best Teacher. But do look around you and you won't find many willing students.....
There's no doubt about it, experience is a great teacher. But if entrepreneurs can't rest even when they reach success - the world is always changing. Here's an analysis of 3 family owned businesses that did not do that:http://8scrts.com/u/ma7b6C
I’ve enjoyed learning from the “experience” of others and am very grateful for the opportunity. Hearing about someone else’s mistakes helps me as a young entrepreneur realize that I will make mistakes but will be able to overcome them. The things I’ve learned will remain with me as I move forward. I also look forward to being able to share my own “experience” with others some day. I can only imagine how rewarding it is to watch others learn from your experience and apply it to help them become successful.
I sincerely appreciated the experience that you shared in class. I found the information to be very valuable and a great learning tool.