You’ve probably heard this saying, “Insanity is doing the same thing over and over again and expecting different results.” It’s commonly attributed to Albert Einstein, but that’s a mistake – the exact origins of the quote are unknown. However, as mistakes go it’s a “no harm, no foul” one.
Like this one, some mistakes are little ones, and then there are those big enough to close businesses. The ones big enough to close businesses usually are the result of the owner’s and manager’s repetitive, unproductive behaviors (i.e. insanity). The kind of mistakes that they repeat over and over, regardless of facts which show the behavior isn’t working.
Maturation in humans and animals is the process of being able to learn from our mistakes, which results in positive behavior changes. That’s what we call experience – I tried this, it didn’t work, I learned from it and will try something else that’s hopefully better (and repeat).
There are several common management mistakes which most people make. However, there’s a simple time tested way to avoid or minimize the damage from them. A way which has evolved over centuries and has the power of experience behind it – ask for help.
The majority of small businesses start because the owner knows something about the product or service. He’s worked in a specific field for someone else and then gone out on his own. He’s good at what he does and knows his product, but what he’s not good at is the “other stuff” (i.e. marketing, accounting, legalities and regulations, human resources, taxes).
Nor should he be. While those areas are important in running a successful business, no one has the level of expertise or experience to understand them all. He shouldn’t expect to be good at or knowledgeable about everything it takes to run a profitable company.
Yet, overwhelmingly small business owners expect just that of themselves. They won’t ask for help, because they see it as a personal failing. They believe they can and should figure it out for themselves. However, they get sidetracked by trying to do the things they aren’t good at and lose focus on their strengths.
One of the best ways to limit mistakes in business (and life) is being willing to learn from others. Learning from other’s mishaps saves us from having to go through the costs and hardships of making them ourselves. There are more than enough chances in life to mess up, why not take the opportunity to let someone else do it for you when possible.
