Turning Business Mistakes Into Opportunities to Fuel Growth  

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Learn
Look back at the situation. What could be improved or done differently?

What steps can be taken to help reduce the likelihood of a similar situation? Let preparation be your ally. 

Try this:

Team retrospective or “retros” are a great way to do this. We often hold “retros” after big projects or launches, grabbing a whiteboard and collectively recapping what worked well, what were issues or roadblocks we came across and what are areas to improve next time.

Keep in mind, generally best to hold these as close to launch or project completion as possible while things are still fresh in everyone’s mind. 

Move Forward
Sorry for the sports analogy here, but this makes me think of a pitcher having a ‘short-term memory.’

In the midst of a game, they may give up a major home run (maybe two or even three). Could they dwell on this and let the rest of the game slip away? Sure.

But what separates the great players from the average ones is the ability to quickly shake it off and recover — because the next action is more important.

Try this:

Building off the lessons learned, come up with a game plan of near and mid-term steps you can take to bounce back.

Think about how you could anticipate similar situations in the future and how you would respond. This is also a great time to reconnect and seek advice from a mentor.

They’ve likely encountered similar situations in the past and can offer great perspective to how you reframe as you move forward. 

Whether you’re a new entrepreneur hustling to get a business or startup off the ground or are a seasoned vet,  we all make mistakes — but always be learning and looking for ways to improve each day! 

Related articles:

8 Exit Business Planning Mistakes

7 Business Pitfalls to Keep Top of Mind

Planning Is Core To Small Business Success

The Qualities of Leadership- Part One

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Daniel Nieveshttps://www.linkedin.com/in/dnieves
Dan is Chief of Staff at Frame.io, a video review and collaboration platform for the creative community. Prior to Frame.io, Dan headed up Market Engagement at Zinc, an enterprise startup transforming how we communicate in today's mobile workplace. Before his time in startups, he spent four years at Deloitte as a strategy consultant where he helped clients transform their organizations through the use of digital technology. Dan graduated summa cum laude from Loyola University Maryland. Born and raised in New York, he recently returned and is now residing in Manhattan.

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