How to Critique Your Failures and Make Them Successes

By , The Entrepreneurial Guru for Women

Solo-E Certified Solo Entrepreneur Expert

and

, Text Only Admin

Solo-E Certified Solo Entrepreneur Expert

Ali Brown - The Entrepreneurial Guru for Women

It’s often said that hindsight is 20/20, but it can turn into foresight when we start to learn from our mistakes and apply our new knowledge to future situations. So, how do you look at your failures and turn something negative into a positive? Let’s take a look…

Do a “post-mortem” examination

When something goes terribly wrong, it’s in our nature to analyze it and play the “what if” game, where we play different scenarios out in our mind about what we could have done differently to change the outcome. Some say this exercise is useless, but in a business context, doing a post-mortem can actually be a healthy and productive way to handle the situation.

The key is to go beyond what you’ve done wrong as part of your post-mortem. Also examine what you’ve done right. Make a list of the pluses and minuses so you recognize your strengths and what you should repeat—and what needs improvement, or needs to be thrown out entirely.

Avoid complacency

Oftentimes when something goes wrong, we write it off as something that was meant to be. But in business, if you’ve lost a client or some mistake has happened, you can often figure out why. Let’s say you lose a client. Why could this have happened? Maybe your pricing isn’t competitive enough. Maybe someone on your team just dropped the ball without a valid reason. To start, you could do a little investigating by asking your team and the client what went wrong.

Ask your client which company won their business. If you don’t want to lose the client, you could meet your competitor’s price, if that was the issue and you are willing to go lower. Instead of feeling dejected or threatened by your competitor, take it as an opportunity to improve your services or business and learn from the strengths of others in your field.

If it was an internal issue, you can implement new tools or training, so your team can better manage the situation next time.

If you investigate why the mistakes are happening, and are willing to make improvements, you can go after new business with the confidence that your operation is capable of taking on more volume and meeting client expectations.

Stay informed

Instead of waiting for something to go wrong, keep your ears to the ground level of your business. Survey your employees and your customers regularly to find out what they think is working and what they’d love to see improve.

You might discover a new system that could increase internal productivity or boost morale. And your customers could show you exactly what your next hot product should be!

Most successful people earn success through the lessons of their failures. Remember, serendipity typically happens after a lot of trial and error..

Ali Brown is fast becoming regarded as the voice for women in business and success. After launching her first business from her tiny New York City studio apartment in 1999, she has grown it into what is today Ali International, a multimillion-dollar enterprise with 50,000 members that ranked in 2009’s Inc. 500 list of fastest growing private companies in the nation. Forbes.com recently ranked Ali as #1 Woman for Entrepreneurs to Follow on Twitter. Ali is dedicated to helping women start and grow their own businesses via her coaching and publishing company the Millionaire Protégé Club; her female-centric Ali Magazine; her online Ali Boutique; and Shine, her annual fall conference where Ali delivers the best in business-building strategies for entrepreneurs of all levels. www.AliBrown.com.

© Copyright 2011 Ali Brown

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