As a Philly sports fans, we have learned to deal with our failures. Perhaps the Phillies collapse and the Eagles recent troubles are extra painful, but at the end of the day, we all need to learn from our mistakes and work hard to recover.
Business and marketing is the same way. If we never try anything new, risky or different our businesses and our marketing will never improve. Here are 4½ ways to learn from your mistakes.
- Set expectations up front. If you know what to expect you will be able to measure whether you are successful or not, where you fell short, and how to make improvements going forward.
- If you set an expectation that means you have to measure performance. If you go to a new trade show and you have no idea how many leads to expect, then when the show is over and you are deciding whether to exhibit next year, how will you decide? Gut?
- If you fail, take the time to identify why you failed and proactively make changes to prevent it from happening again. Make sure you do this quickly, the longer you wait the less you will remember about the situation.
- Better yet, do a Pre-Mortem. Instead of the above Post Mortem. Before you start, list all the things that could go wrong and work to prevent them from going wrong up front.
Yes, here is the extra ½ a way. Encourage failure, make sure you or your team fails fast, but is never afraid to fail. Our mistakes are our best chance to learn and we have to make them to get to the ingenious idea that is just around the corner.
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Posted By Author Mike Lieberman, CEO and Chief Revenue Scientist
Mike is the CEO and Chief Revenue Scientist at Square 2. He is passionate about helping people turn their ordinary businesses into businesses people talk about. For more than 25 years, Mike has been working hand-in-hand with CEOs and marketing and sales executives to help them create strategic revenue growth plans, compelling marketing strategies and remarkable sales processes that shorten the sales cycle and increase close rates.