Ability to Learn from Mistakes

Ability to learn from mistake means the ability to learn from error that have made and make correction and improvement on it to get a better result. Every entrepreneur will make a mistake during the process of being successful entrepreneur and when they started their business but as long as they have learnt from the mistakes and making correction and improvement about it. Many entrepreneurs being success after they have learnt from the mistakes they made and they know the right steps in order to become success.

    This trait can be found on Hiten Shah, Co-Founder at KISSmetrics. Hiten Shah had spent $1,000,000 on a web hosting company that never launched. He was perfectionist and he built the best thing he could without even understanding what are the demands of his customers. He has now learnt to spend smart, optimize for learning and focus on customer delight.

Next, Rand Fishkin, CEO of Moz and co-founder of Inbound.org also has the ability to learn from mistakes trait. The biggest mistakes that they have made at Moz was to repeatedly build “big bang” projects which required many months of development time without much visibility into progress. It is sad because it is actually worked a number of times, before they fell flat on their faces with a recent project that started in Q4 of 2011, was initially supposed to roll out in July of 2012, and has been delayed until September of 2013. Missing something they budget and plan for by more than a year is really bad news in the start-up world. After this, they have learnt to use agile development, have lots of visibility into progress, and keep their team accountable to each other.