One of the most significant traits of a successful person is his or her ability to learn from their mistake and find opportunities when there seemingly aren’t any. While most people will feel, defeated and humiliated by their failure, there is always something to learn from it. The takeaway as we like to call it is all in the way you look at things. If you consider every failure to be part of finding a great opportunity, you will find opportunities which if anything improves your chances of success when you start over.
As people who have dealt with failure ourselves and found opportunities, there are a few things we’ve learned along the way. While it may sound as simple as changing your perspective things are not always that easy. Below we share a few things you can do to learn not just from your mistakes but to find an opportunity that makes that mistake worth your while.
Accept fault and analyze your mistake
The first thing you should do is to admit the mistake is your fault. Playing the blame game does not get you results. Once you’ve accepted that it was your mistake that ruined a business venture, partnership or a project, it’s only then you can start to answer the following questions. The questions below are meant to help you analyze the mistakes you made objectively. Also, remember that everyone makes mistakes!
- At what point, did things go wrong?
- What would you have done differently that could have changed the outcome?
- What was your emotional state of mind and why was it that way?
- Were you experiencing a bout of negativity when that mistake was made?
- Are there any options to salvage or recover from the mistake?
Ideally, you’ll want to write down the answers to every one of the questions above. That way you have something to reference.
Highlighting the opportunities that the mistakes created
We usually get so caught up with the mistake that we are rarely able to find the opportunity it created. While finding opportunities is something everyone should do each time they make a mistake or fail, you can’t find an opportunity with every mistake made. However, it does help to make it a habit so that you don’t miss any opportunities.
Here are a couple of questions you should ask to precipitate possible opportunities your mistake may have created:
- Did you form any long-term relationships owing to the venture?
- Make a list of everything that went right with the project/venture
- Highlight points in what went right to evaluate them further to determine if they are an opportunity you’re overlooking
- Have a close friend or family member like your wife read through and give you their unbiased opinion
What if you don’t find any opportunities?
As we said that finding opportunities with every mistake you make is not possible. However, if you don’t find any opportunities, it’s still not a total loss. You’ve learned a couple of things which you can use in future ventures which include but is not limited to:
- What frame of mind caused you to make a mistake and how to avoid it?
- Which type of people you shouldn’t trust when doing business?
- Who gave you sound advice and so you should listen to them
We all tend to make mistakes, but if you’re going to move forward and be successful, you need to learn from your mistakes as you would from a teacher. The above will help you find opportunities and analyze your mistake objectively. Hopefully, this will help you become even more successful with future ventures!