Samant Brara: Tips for Entrepreneurs to Learn from Mistakes
We all know that mistakes are quite inevitable. But do you know – more than 50 percent of new businesses/ startups fail within 4 years? We are not saying this to scare you but motivate you. There are many leading and successful entrepreneurs i.e. Samant Brara who failed multiple times but they bounced back with double energy, more enthusiasm, better focus, and unique ideas. Even though it seems hard, you can make it happen if you know how to make your previous mistakes your strength and how to learn from them.
If you are also sitting on a roller coaster ride and looking for ways to set up your closed venture again, then check out the following ways to learn from your mistakes (according to Samant Brara businessman , young entrepreneurs must read these points more carefully):
- Come down from the ego tour
This is one of the most important things an entrepreneur should do. If you always allow your ego to get in your way, then you will NEVER be able to learn from all your mistakes. Instead, you should keep yourself flexible and just note down one thing – you do not know everything and you are not the only smartest person in the team. However, it does not mean you should not be a confident person. Being confident is good but being egoistic is something that can turn the whole story negatively. So, just trust yourself and have faith in your abilities but you should welcome others’ ideas and suggestions if it has something good for you and your firm.
- Do not be afraid of any failure
Learning from mistakes also means expecting failures and it is absolutely okay – in fact, more than okay. Just welcome your mistakes and try to be better. But do you know this point is also somehow connected with your ego? How? As Samant Brara says, ‘most of the budding entrepreneurs launch their venture and think that they have an outstanding idea’. Undeniably, they will have one, but they do not go out to know what people think, what people want, and understand whether there will be any need for their services or products or not. As a result, they fail. So, if you have already done this mistake, do not be afraid of failure. Just try to learn from it and fix the issues to be better.
- Always make a list of your mistakes
Isn’t it weird to make a list of your own mistakes? Well! It might seem strange but it is one of the best ways to avoid the same mistakes again and again. Many budding entrepreneurs consider this habit as torture but guys- it is something that will help you prepare for the upcoming challenges better. Since it is a human tendency to forget things, you cannot really make the same mistake if you want to succeed and become a successful entrepreneur. So, it is good to start noting down your previous and even recent mistakes as it will help you not repeat the same.
- Investigate each mistake
Whenever you make any mistake, just ask yourself the same question and write down the answer in your ‘mistake notebook’. Technically, this habit is called the ‘project post mortem’. It is the process of finding areas to make things better for next time. You must be thinking about how to evaluate your mistakes? According to Samant Brara, to do this, you will need to relieve the same mistake and ask yourself – what should I do to avoid this mistake and how can I avoid this from occurring again! Once you are able to answer these types of common yet crucial questions, you will be in a better state to examine the mistake and its root cause.
Just keep one thing in mind not all entrepreneurs become successful overnight. Many of them like Samant Brara go through numerous ideas and wind up being an utter failure. In addition to this, the road to success is always winding and long. But you have to be determined enough to finish the line on a happy note. So, never let down yourself, learn from your mistakes and become better and successful.