Is it a smart move to walk away from a failure? That is a two-headed question. If you walk away from a failure because you can no longer afford the time or money to support it, you’ve made the right decision. That is the first “head.”
If you stick around and study the reason for the failure, you are also making the right decision. That is the other “head.” The second head is the one we’ll explore.
The greatest lessons learned are those from the mistakes we have made. Once you make a mistake, it is not likely you’ll make it again. You have learned from it and use this experience to strengthen your business – but only if you understand the reasons for the mistake.
Study the mistakes of others and apply what you learn to your own business. Seek out people in businesses similar to yours – who have made mistakes – and pinpoint how these mistakes could have been prevented. It isn’t likely that too many people will talk about their failures. But when someone is willing to talk – lend them your ear.
A smart contractor learns from their own mistakes. A wise contractor learns from the mistakes of others.
You have a tremendous opportunity to learn from the mistakes, successes, and experiences of some of the best contractors in the business. Interested in discovering how to avoid the same mistakes and emulate their success? Call us and attend Profit Day. You’ll be on your way to becoming even wiser.