Don’t Overpay on Your Business Education

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Don’t Overpay on Your Business Education

Encourager-In-Chief: May 16th, 2018

Your mistakes will make you more profitable and more successful.

Entrepreneurs know that when you start up your own business, you’re likely to make mistakes. These come in all forms, from overbuying inventory that you don’t really need, ordering printed marketing tools and then discovering a typo, hiring the wrong people, or not charging enough for the items you sell.

Hopefully, a wise business owner will seek out more experienced entrepreneurs as mentors and mastermind members. This will help reduce some of the mistakes you make, but it is unlikely to eliminate them completely. But have no fear! The mistakes you make up front will benefit you in the long run.

Years ago, I became an owner of a staffing company. I already had an established client base from working at other companies. I needed to create an agreement to have on file with my potential customers. In doing so, my first attempt left out a crucial statement. Luckily for me, one of my long-time clients pointed out my error. I agreed to reduce his fee by $1,000 in appreciation for him helping with my education and locating the flaw in the agreement.

This arrangement accomplished two things: first, it gave me an opportunity to thank and reward my client for pointing out a flaw in my design; and second, by correcting that error in the agreement, it saved me countless thousands of dollars in lost business in all of my future contractual endeavors.

Don’t fear making mistakes. Fear not capitalizing on your mistakes. Nobody is perfect, but if you accept that and eagerly learn from your errors, you will accelerate your learning curve, grow in wisdom, and be in a much better position to sit on somebody else’s mastermind board in the future.

This excerpt is taken from my Survive and Thrive in Your Own Business seminar.

Survive And Thrive In Your Own Business

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I also encourage you to order my Survive and Thrive in Your Own Business video program, which covers this lesson in much greater detail.

Survive and Thrive in Your Own Business

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