THE VALUE OF A GOOD MISTAKE

“I've learned that mistakes can often be as good a teacher as success." – Jack Welch “ Jack Welch I have taken more than 9000 shots in my career. I have lost almost 300 games. Twenty six times I have been trusted to take the game winning shot and missed. I have failed over and over again in my life; and that is why I succeed.” – Michael Jordan

. Great Mistakes and the Lessons Behind Them. Leadership People Management Money Management Customer Loyalty Work Life Balance

LESSONS IN LEADERSHIP  Management is doing things right; leadership is doing the right things Peter Drucker.  “People buy into the leader before they buy into the vision.” -----John Maxwell

LEADERSHIP  TAKE RESPONSIBILITY FOR THE SUCCESS OR FAILURE OF THE COMPANY- BE THE MAN/WOMAN  COMMUNICATE A COMPELLING VISION AND MISSION.  CREATE AN EMPOWERING CULTURE  BECOME A MULTIPLIER NOT A DIMINISHER  BE DECISIVE  LEADERS NEVER ARRIVE

LESSONS IN PEOPLE MANAGEMENT  IF YOU THINK HIRING PROFESSIONALS IS EXPENSIVE, TRY HIRING AMATEURS  I HIRE PEOPLE BRIGHTER THAN ME AND GET OUT OF THEIR WAY Lee Iacocca  FIRING IS NOT SOMETHING YOU DO TO SOMEONE: FIRING IS SOMETHING YOU DO FOR SOMEONE

PEOPLE MANAGEMENT Know Thyself … and everyone else for that matter!  RIGHT PEOPLE- RIGHT SEAT  PENNY WISE AND POUND FOOLISH  SOP’S – ALLOW ORDINARY PEOPLE PERFORM AT EXTRAORDIARY LEVELS  CELEBRATE SUCCESS  FIRE RIGHT- DO THE RIGHT THING FOR ALL

CUSTOMER LOYALTY THE CLIENT IS NOT ALWAYS RIGHT  DO YOUR HOMEWORK  SET CLEAR EXPECTATIONS  80/20 RULE  DON’T BECOME FAMOUS ON THE NEWS

LESSONS IN MONEY MANAGEMENT  "I've got all the money I'll ever need if I die by four o'clock this afternoon." - Henny Youngman  Car sickness is the feeling you get when the monthly payment is due. ~ Author Unknown  A bank is a place that will lend you money if you can prove that you don't need it. ~Bob Hope

FINANCIAL EXPERIENCE –BIGGEST MISTAKES  UNDERCAPITALIZED AS START UP  DON’T UNDERSTAND COSTS  CASH FLOW  OWNER TAKES TOO MUCH MONEY OUT  DON’T UNDERSTAND BUDGET OR FINANCIAL REPORTING

PARTNERSHIPS  MAKING BUSINESS WORK  MAKING MARRIAGE WORK

WORK LIFE BALANCE “ IF MAMA AIN’T HAPPY NOBODY’S HAPPY”  DON’T TALK TO ME LIKE AN EMPLOYEE  WHAT PART OF PICKING UP YOUR SON DID YOU NOT UNDERSTAND  HONEY, ARE YOU LISTENING TO ME  I DON’T EVEN KNOW YOU ANYMORE

PARTNERSHIPS IN THE BEGINNING COMMON GOALS AND VALUES

PARTNERSHIPS OVER TIME OUT OF BALANCE  SEPARATE OR INDIVIDUAL GOALS AND VALUES

REBALANCING  REDEFINE COMMON GOALS AND VALUES  PRACTICE MUTUAL RESPECT  REVISIT OFTEN COMMON VISION

The facts are irrefutable and beyond question. Mistakes are essential for learning, improvement, productivity and creativity. DON’T WASTE A BIG MISTAKE!

THE VALUE OF MISTAKES  Don’t waste a perfectly good mistake on self-abasement. Seize the opportunity to learn, for that is what mistakes are for! Therefore do not be afraid to make mistakes, rather embrace them! Learn the value of mistakes.

THE VALUE OF A GOOD MISTAKE