“Flip-flops” condenses the valuable experience of 163 top entrepreneurs from the world’s top mistakes, failures, and successes, revealing seven stages of turning mistakes into success. Here, entrepreneurs will find that it is not that easy to turn over, but it is not impossible.
If you want to succeed, it’s a good idea to step into the journey of turning mistakes into success and find out!
Stage 1: Strike
Strike is the starting point of a journey of entrepreneurship. Before you can correct mistakes and defeat failures, you must have a clear understanding and understanding of difficulties and failures.
Excavate the “wrong” characteristics and the various forms it exhibits. Although sometimes you can’t avoid making mistakes, at least you can prepare for them.
“Error” feature one: only hire people, not hire the right person
Three mistakes are usually made during the recruitment process: hiring friends, hiring cheap people, and hiring an “all-star team.” This seemingly quick and easy three recruitment method may increase your cost of employment.
But you just have to remember: hire someone you need and can create value, not someone you want.
“Error” feature two: stifling development due to development
As an entrepreneur, there is no doubt that you are committed to developing and expanding your own company, but how fast you should develop, to what extent, and when you start to act, is something you should consider.
“Error” feature three: not when you say “no” there is a problem
Tom is the founder of Revolution Viewing, an interactive video production company from Leeds, who produced a high-quality product that could help a range of business activities across a wide range of industries, so he used to They are all considered as goals. But things did not follow his expectations.
“I became a singer and dying,” said Tom. “A major turning point occurred after we launched our 360-degree virtual scene product. We realized that if we focus on a market worth 100,000 euros, we will only get 15%, it would be very good.”
Although this sounds like a trivial matter, it provides Tom with something to focus on.
“Error” feature four: more important than passion itself is the close combination of passion and goal
Entrepreneurship cannot be driven by passion alone, it must have some kind of goal. Passion is what you love, but the goal is how you can use your passion to help others.
Passion and goals are equally important, and balancing these two powerful entities will determine your future journey.
“Error” feature five: don’t let fear dominate you
Fear is part of life and everyone will have it.
Debbie, the president of Sterling Brands, also has a deep understanding of fear. She described her days when she graduated from college: “I worry that I can’t take care of myself, so I choose to find a job that I can do, not chase my dreams, I think, ‘Maybe I am more confident. I can chase my dreams. But if you really just wait, you may wait forever.”
Debbie’s fear initially prevented her from starting her own journey, but she did not let fear always dominate her.
“Error” feature six: communication allows you to recognize yourself
Any form of communication is essential to you and your business. It involves not only how you communicate with your customers, staff and suppliers, but also with your partners and with you.
“Error” feature seven: not always your fault
Many times, we are helpless with mistakes, and we can’t make mistakes disappear in this world. Regardless of whether the current mistakes and failures are due to you, you still have to courageously accept all of them and solve them. In the process, you will suffer and fight, but when you overcome these sufferings, you will receive a fortune.
Usually before these errors occur, there will be warnings to give you a chance to discover that you are about to make a mistake.
So, focus on the six danger signs before the error, and you will have the opportunity to avoid making mistakes.
Danger signal 1: When boring, please pay attention
Being boring can lead to bad judgment, and you will gradually get bored with certain aspects of the project, ideas, and work. If you ignore it or make a hasty decision, a potential mistake may be hidden in a corner.
Danger Signal 2: How to listen to your heart
“Listening to the heart and intuition” is one of the greatest danger signs you should be wary of. Intuition is important, but it’s not always right, it’s not always clear and meaningful, but as long as it happens, there must be a reason.
Danger signal three: Be careful when you only have your own
Everyone has their own small world, but if you are only immersed in your own world, you may make mistakes. Just like if you want to create a good work and want to make it better, then you have to involve other people, including your customers, peers and even your competitors and strangers.
Danger signal four: Beware of “sound worms”
When you feel that you should say “no”, you say “yes” to a particular customer. Please reflect on what you should focus on in the future; if you have a group of people around you singing songs to you, then Please reflect on it.
Danger signal five: too many chefs have destroyed Thai fried rice
Listening to other people’s opinions and forming ideas that transcend themselves is very important, but more importantly, you can ensure that the opinions you adopt are from the right people. After all, only you are the one who cares the most about your own interests.
Danger Signal 6: Ignore your vision? Counting the past
The vision is that you embark on the labyrinth of entrepreneurship and abandon the monthly wage guarantees for the reasons of unknown life. It has the true meaning of success, freedom and happiness for you, and once you ignore this, you You should reflect on what you are doing now, so as not to embark on a path you don’t like.
In short, the danger signals we speak of do not mean that mistakes must occur, but what they have in common is to provide an opportunity to take a step back and reflect on what you are doing and where you should go.
Stage 2: Pain
Pain is not useless. It is painful to worry about money, but financial difficulties often help you recognize and value the true meaning of money.
Emotional pain is more appropriate to describe with disappointment, but disappointment will help you recognize what is most important to you.
Business mistakes often lead to difficulties in your personal life, although you try to separate business from personal life, but it is difficult to do. So why not treat work and life as a whole?
Stage 3: Tangle
After fighting the pain, you will reach a new stage: tangled.
Francis, the founder of Everest, was deeply immersed in it. Everest is an alternative to Facebook and Instagram. Francis said: “We have raised $1 million over the course of a year, but the problem is that we spend $100,000 a month. So I am overworked, putting too much pressure on the team members, focusing on not being able to provide The indicators of the correct answer continue to attract investors, but their money is just like bandaging the wound on the wound, rather than healing the wound, to no avail.”
Tangle not only makes Francis painful, but also wastes a lot of his time.
Therefore, facing the reality, admitting mistakes, making the right decisions, and really taking action to solve the problem are the key to successfully passing this stage.
Stage 4: Depressed
Frustrated, each of us will experience, no one can escape.
The author Matthew also experienced this stage when he wrote this book. In early 2015, he launched a crowdfunding campaign for the book, and he was convinced that he could easily complete the $7,500 fundraising goal.
But things did not develop in the direction he expected. He said: “Although predicting crowdfunding success is not my fault, it is my fault to expect to get help again from those who have already helped me.”
Through this failed publishing event, Matthew got a deep understanding. He said: “Not only for myself and the entrepreneurs I interviewed, but also for countless people who need to read these stories to learn from the entrepreneurs interviewed and create a better life. I have overcome the mistakes of crowdfunding publishing. After the low of life.”
Stage 5: Tipping Point
The tipping point represents a positive period, sometimes it occurs in the form of a flash of light, in something, when someone says something, after you visit a place, or if you do nothing, then everything is in place.
Bender is the co-founder and CEO of Contactually, the relationship marketing platform, but at the beginning of his career, he also faced huge challenges in raising funds.
As a young and unqualified entrepreneur, there is no advantage, so they are constantly rejected by investors.
But soon they found a turnaround: the tipping point appeared and they met the investor. Bender said: “Investors not only brought us money, but also made me deeply touched. He said: ‘I don’t know much about what you are doing, but I believe in you, I think you will succeed. He puts The bet was on my body. I suddenly realized that what I was going to do was not to tell investors what we could bring to them in the next 10 years, but to show our strong and persevering entrepreneurial team.”
Stage 6: Reconstruction
In Phase 6 “Reconstruction,” your “great mistakes” will be reinvented by focusing, expanding, diversifying, or restarting, turning from failure to success.
Focus is the most common way to rebuild. Entrepreneurs tend to distract their energy, and because everything needs their attention, this leads them to invest less energy in what really matters. But when they encounter important tipping points, they realize that they need to focus on the important things and put all their energy into it.
Reconstruction may sometimes require you to diversify. This includes introducing new products, entering new markets or doing what you are doing in a whole new way.
Expansion is also a good choice. For example, hiring new executives, new offices, and new employees.
Restarting is not an ideal situation, but it usually leads to better ideas and business.
Stage 7: Accept
“Acceptance” is a stage that allows you to review past experiences.
If at this stage all you have done is to cover up past mistakes or failures and continue to blame yourself, then at this stage you will get nothing. On the contrary, if you accept your past mistakes and failures, it will make you recognise yourself and cheer up.
At this point, our journey is nearing completion. This book is not to help entrepreneurs avoid failure, but to make entrepreneurs more willing to embrace change, accept change with a positive attitude, and learn to grow from their situation (errors, failures, etc.).
In one sentence, sum up the essentials of the rumor: don’t make big mistakes, don’t be afraid of making mistakes; once you make a mistake, pass quickly