Learning from your mistakes is a mistake in itself!
That's what mentors are for...find the right mentor and learn from the mistake that they made back in the day. You will save yourself a truckload of time and three truckloads of money.
The right mentor has lots of experience and not too much ego. They won't try to go all Yoda on you, and be the expert on every facet of business, they will just talk honestly about what they did wrong and what they'd do differently if they had their time over again...that's the good news, you don't have to go through the tunnel of pain!
You're on your way into a Restaurant and you bump into a Food Critic friend on their way out. If they tell you to avoid the Linguini at all costs, I hope your wouldn't go in and order the Linguini. That's why it's a mistake to learn from your own mistake; your mentor's expertise and experience prevents your future mistake.
The 5 mains areas they will help you are:
1. Hiring and Firing..they may have recruited the wrong person at some point and held onto them way to long!
2. Cashflow..you may think you are on top of the numbers, but a good mentor will give you the rigour to make this a daily focus. Remember, turnover is vanity in buisness, the only number that counts is what you get to keep!
3. Lease of Buy..they will have been through this and have some good intel on the pros and cons in different situations.
4. Marketing...Most people have an 'endowment' belief. We think our product or service or resume or idea will change the world and magic will make it happen. Your mentor will keep your realistic and know that being great is not enough..you need the right channel to market and optimism alone is not enough.
5. Recovery..many mentors will reflect on not taking enough time for their families, for themselves, and their hobbies. Under no circumstances should you EVER learn from your own mistakes on this front because time invested in your kids is never wasted and time invested in yourself and your wellbeing is the best business protection you can ever get.
Finally, mentoring is not only about age.
One of my Coaches used to say that "you can be a man at 18 or a boy at 30". If someone has the skills, reach out to them.
My sons mentor me on Digital strategies and Finance and I love learning from them.
If you don't have a Mentor, you're just not trying hard enough!
Live the Life YOU Love