I think managing a business is probably one of the hardest things a new person just starting their own business will encounter.

In Robert Kiyosaki's book, "Before You Quit Your Job", he discusses many of the characteristics a business needs to possess in order to be successful. They include: a Product, someone who knows about the laws of business, a system for managing your business, communications, and lastly cash flow.

Of course, most new business owners would not know where to begin and so at first he or she will make a lot of mistakes and fail a lot. If he or she is persistent enough and willing to go through the difficult times and learn from them, their management skills will greatly improve and in time he or she will be a much better business owner.

Once you have gotten the hang of managing a business does not mean that no more mistakes or failure will occur. For most business owners, there is no such thing as graduation from the school of business because making mistakes, failing and learning will continue until you say it is time to quit having a business.

The difference between an experienced and inexperienced business owner is that the experienced one recovers from mistakes and failures much more quicker. This is because experience has taught him or her what steps are necessary in order to rectify a problem or bad situation.

If you are new to owning a business, give yourself time to learn how to manage a business. Failures and mistakes are to be expected. Don't let them prevent you from achieving your dreams of success and freedom. You only truly fail if you quit.

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Yours in Success,
Lawren
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Hi there,

You are absolutely right when you say that one only learns from making mistake. But there are other ways of learning as well. Before setting out into a business venture you can probably research on the same. Maybe do a SWOT analysis of the idea or the germ in your mind. You can also learn from other peoples mistakes and try not to repeat the same. Also if are going to quit your full time job and start of a career as a freelancer then there are lot of places you can start from. Go on to online market places, showcase your expertise, look for projects and start submitting proposals.There are plenty out there ,which can give you a great start. Pick and choose the ones that will support all your needs for example choose the one's that provide collaboration tools, supports your project management needs etc. in short helping you to mange your long distance online engagements. If i were to suggest any, i would suggest ninemotion.com.

Cheers,
Monique

ya this is not bad in every case because human learns from mistake and we know tht smart people are those who learn from mistake but smarter are those who learn from other mistake

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Regards
Anuj

I agree, failure means stepping forward.

What I have learned in the Military is to Adapt and overcome. Which is basically Fall and get right back up. The end of the world is Death. So out side of Death there is nothing else that could be so bad that you cannot get back up from your failures and or your mistakes. Think of it, as do most people do, a learning curve. Your mistakes can help others learn.

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I learned a while ago; I'm on my 6th business and realize that the best way to look at failures and mistakes is through a few questions I ask my clients when they go through this and feel completely bummed out.

1. What did I learn from this experience?
2. What have I learned about myself from this experience?
3. How can I use that for future reference?

Looking at it this way allows you to think of mistakes/failures as unexpected outcomes and learning experiences. I'm Canadian so I'll use a quote Wayne Gretzsky has said before: "you miss 100% of the shots you don't take".

So if you're not making any mistakes it may be that you aren't stretching yourself and you're staying in your comfort zone. So rejoice each time you make a mistake because you are learning Baby!

Cheers,

CoachLinda

Nice way of putting it Coach

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Thanks! Actually this is something I learned from my own coach and I always found it to really shift my thinking from loss to opportunity.

After noticing the pattern she used I realized how powerful it was and I now use it with all my entrepreneurial clients.

When you start with something new, you are bound to make some mistakes. You should try to learn from your mistakes instead of getting bogged down. As goes the common idiom – ‘Failures are the pillars of success’, so you too should use your common sense and amend your mistakes instead of panicking. Remember, a child learns to get up and stand straight only when the child falls.

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anyone can learn from his/here mistakes that will make him do not do it again