Making mistakes has become somewhat synonymous with failure and that it is wrong for mistakes to have been committed, but from making mistakes you can accelerate your learning and resilience as a business owner and leader, and even thrive from there on because of them. 

The pandemic has been the catalyst for so many businesses to face a different set of problems and provide solutions in a way they may have never had to do before.

(Graph showing GDP loss as a result of Covid-19 pandemic. Image: Statista)

You’ve got to be in it to win it

When it comes to being a successful leader, shying away from ideas you want to pursue is not always in your best interest. Being a positive thinker and not being fearful of making mistakes and potential failure when trying something new is key to progress. As you execute more of the ideas you want to and action them rather than keeping them as only ideas, you will create a larger scope of scenarios for yourself and in turn the range of solutions you have to offer. To know if an idea will work or not, you have to be able to have the resilience to try it and not be afraid of making mistakes. This is a major positive when it comes to making mistakes as a business owner and should not be feared.

Get your priorities straight 

Of course, when it comes to being an entrepreneur, you ultimately want your plan to go smoothly and ultimately be successful, but being prepared for other outcomes will be a strength that you will develop. As you venture into new sectors or expand your business, you will encounter new challenges and in turn new lessons as you encounter different problems that will be better for you in the long run.

From your mistakes, you will learn how to prioritise what works for you and what doesn’t. You wouldn't have known this if you didn’t make your mistake and this is a plus that comes from it. It may not feel like it at the time, but when you look back at your mistakes and how you have learnt from them you will appreciate them in a way that you maybe didn’t at the time. Thinking of your mistakes in a healthy way and processing them.

Making dreams come true 

When you process mistakes you made in a healthy way it can open up the doors to you pursuing things that you’ve wanted to do. You feel a sense of freedom to pursue goals that you wanted to achieve because you have built your resilience and problem-solving skills. Through making mistakes you will know what not to do in the future. As a business owner and leader, this could come in the form of refining your hiring process or learning from a personality trait that didn’t work within your business. Whether your goal is to expand your business or delve into a new type of business, accommodating your mistakes and not resenting them is a good attitude to develop for yourself.

Who are you?

When making mistakes in the business world, will showcase exactly how you deal with them and how you come up with solutions to things that have gone wrong. Facing and dealing with emotions that you may not normally encounter will, in the long run, be healthy and teach you what the best way is for you to process them. Learning how to process your feelings is an amazing way to become self-aware and understand what types of situations you thrive in. If you are finding that you’re not dealing with your mistakes in the best of ways, it will give you the insight to discover how to deal with them.

Surprise, surprise 

The unexpected positives that come from mistakes are something that you should consider as a business owner. Whether this is in the form of learning about yourself, or an opportunity that shows itself for you to forward your business in a different way, you never know what good may come from a mistake. Your resilience and problem-solving skills will be developed and you never know who you will meet along the way and how you will not be the only one who has made the very same mistake. 

When it comes to making mistakes in business, not feeling them and seeing what lessons you can take from them is the key and processing them in a positive way can be the solution to not getting so disheartened and even encourage you to go for your business goals and achieve them. Being present and self-aware is key to being a good leader and a mistake might even be the reason that a part of your business is successful in the long run.