Wednesday, September 17, 2008

Learning from Failure

While there are many resources out there to tell the small business owner how to be successful as well as chronicles of success, we don't hear as much about failures in order to learn from them. (Unless of course they are huge in terms of impact and/or scandalous, such as Enron.) But what about the downward spiral of the off-the-radar businesses who make simple mistakes we can all avoid just by being aware of them? As I attempt to compile these, I was happy to find in my inbox today that someone has at least published a soundbyte about this called Five Dumb Mistakes. It is the Reach Group who has developed a "Free Agent Formula," and while I'm not a big fan of this type of thing usually, the article is worth reading at http://www.marketingprofs.com/small-business/index.asp?nlid=545&cd=dmo121&adref=NsbW398.

Although chasing rabbits (see previous post) didn't make the list, I can say that the first item--which I imagine happens when folks go into business just to escape the 9-to-5 by opening a franchise or buying into some MLM or affiliate marketing without loving what they do--is just as dangerous.

1 comment:

dehoang said...

Wow...I never really thought about learning from failures. Just thinking about it does make sense!
I think it would be a great learning experience for women entrepreneurs.