Center for Entrepreneurship and Innovation

Mistakes are inevitable; learn from them

 

For an entrepreneur, those are words to live by. The truth is, not all businesses succeed. Even the best plans can be derailed by market conditions, pipeline disruptions, illness or a zillion other unexpected events.

But the true entrepreneur learns from experience and picks themselves up, dusts themselves off and starts all over again.

 

Three quick questions

We would like to hear about your entrepreneurial journey. Have you experienced the highs and lows? Answer these questions and see how you compare with your fellow treps.

 

Start-ups and re-starts

We know that entrepreneurs are driven. And when a start-up doesn’t succeed, it may be painful, but treps can see it as a learning opportunity.

Our first question has to do with first start-ups. Are you still there? Or have you re-started?

 

Pointing fingers

So, are you a trep who’s seen their start-up come crashing down? If not, you’re one of the few and can skip to the next question.

But if you’re like many entrepreneurs, you’ve experienced the reality of seeing the end of a business.

This second question looks at what happened. Not to point fingers (well, maybe just a little), please tell us what you think contributed to the cause.

 

20/20 hindsight

Everyone knows hindsight is 20/20. For a trep, that means not just seeing what went wrong, but learning from it.

If the school of hard knocks has taught you a lesson or two, you’re in good company. Pick up almost any book or article on a truly successful entrepreneur and you’ll read about failure at some point.

So our final question: looking back and knowing what you know now, were there things you could have done differently?