Several people will tell you not to give up when things go wrong (my parents are great at this). I’m sure you’ve heard success is 1% inspiration and 99% perspiration. Keep on trying- it’ll happen. Sadly this mantra is flawed. Repeating the same thing over and over is not enough, we’ve got to learn from it so next time we can do it better and smarter. Common sense right? Not really. Several companies tend to sweep mistakes and failures under the carpet when things go wrong. You may see a direct impact on your bonus but fixing those mistakes aren’t usually discussed. Next time something does not pan out as planned, make sure you use those failures to make better decisions in the future. Studies find that an entrepreneur who succeeds in a venture has a 30% chance of succeeding in his next venture, but first time entrepreneurs have only an 18% chance and an entrepreneur who’s failed has a 20% chance of succeeding! Mr. Thomas Edison said it best, “ I never failed once. It just happened to be a 2,000 step process.”
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