A talk on how entrepreneurs use mistakes to improve business efficiency. The speaker shares insights from a survey of small organizations and offers practical problem-solving strategies to prevent future errors.
How successful entrepreneurs make a business more efficient comes down to how they handle mistakes. This is the easiest trick in the book. Do a second step. Solve the problem and then develop a preventative action for the future. So if your website crashed because your plugins weren't updated, make an action that says we're going to check our plugins in advance every month. If you had an email be sent to the wrong recipients, your preventative action might be having a proofreading check where you actually double check the recipients are correct. Every preventive action is going to be different. All you need to commit to is actually doing one. If you do this every time a mistake happens in your business, you are going to be making your business more and more efficient every time a mistake happens. I've surveyed over 500 small organizations and I've discovered that 59% of teams don't make these kinds of preventative actions. So if you do implement this practice, this will give you a leg up. Over 59% of your competitors.
