Comments on: Can you become a successful entrepreneur by making more mistakes?

By: Neil Lewis

Neil Lewis — Fri, 12 Mar 2010 11:31:33 +0000

I was reading about this issue – and two things were raised

firstly – we learn more when its our own money on the line

and

secondly – we tend to have to make the mistake ourselves

True or false?

Neil Lewis — Thu, 11 Mar 2010 08:18:50 +0000

Thanks Richard

I guess the issue is not whether we makes mistakes – but how we deal with that matters?

Best Regards
Neil

Richard Williams — Thu, 11 Mar 2010 07:50:51 +0000

Great post and you are right this is a great way to learn and move forward..

Wed, 10 Mar 2010 17:29:35 +0000

[...] Can you become a successful entrepreneur by making more mistakes … [...]

Neil Lewis — Wed, 10 Mar 2010 17:14:10 +0000

My biggest mistake was setting a goal to sell a company for £20m and then fixing that goal into the shareholder agreement.

I meant that all the shareholders, who were also directors, were determined to stick with the business until it reached its goal.

This meant when the offer came of £12m – we turned it down.

Two years later, we closed the business and walked away with nothing.

That’s a pretty big error – and is all because we set a fix goal and didn’t put a review date on it.