Posts Tagged ‘business mistakes’
Business goal setting – another of my great mistakes
Neil Lewis on Monday, March 15th, 2010Goal Setting is powerful. And I’m a big fan of setting goals… but…
… goal setting can have plenty of unintended consequences.
Like the back of bottle containing powerful chemicals – perhaps for clearing a blocked drain – they should contain the warning ‘use with caution’ and ‘discard when passed the use by date’.
A classic goal for first-time entrepreneurs – who are building their first business – is to sell the business for a set amount – say £5million – in 3 year time.
Can you become a successful entrepreneur by making more mistakes?
Neil Lewis on Wednesday, March 10th, 2010Warren Buffett, still one of the world’s most successful investors, is good at owning up to mistakes.
He has declared on many occasions that holding onto his textile company in the 1970s was an error and that he accepts full responsibility for not listening to the advice telling him to exit the business.
Even in his latest letter to shareholders he warns that “we will make plenty of mistakes”.
