Learning from others investment mistakes in business

Coyster

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Quote from: TEBTC on Today at 08:48:14 AM

So as a business owner or entrepreneur we should should always learn and correct our from the business men and women who has made mistakes in their business by way of investing into the wrong business and even learn from why and the reason for business who has crashed and folded up in the past was manege

*This is just an example and i do not consider bitcoin a business.* So if someone buys bitcoin, but didn't bother to learn how to keep it safe, so this said person goes on to lose their coins because they saved their seedphrase in their phone gallery, are you going avoid buying bitcoin because of that.

That being said, there are quite a lot of factors to consider before starting a business, if you do all of your homework properly, you can start a business in a field that someone else failed, and you could be successful.

Victorybit1

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It's said that experience is the best teacher but if you are opportuned to learn from other people's mistakes then that would save you from causing some damages to yourself. Starting up an investment can take a lot of capital and if you happen to make the wrong investment it would cost you a lot, some people who make such mistakes stay down for a very long time, learning from other people's mistakes can show you how to manuuover your way out of such crisis. Remember before starting up any business you must do your survey and make sure you are not making any mistakes about it.

Fiatless

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Quote from: Accardo on Today at 11:55:59 AM

Quote from: Fiatless on Today at 11:42:17 AM

Every businessman might not have the same story or experience. But as a young entrepreneur, you could learn from the stories of experienced business owners. You might gain some lessons from their failures which might be helpful to your business.

You are correct. Risk is a cardinal part of business. Sometimes, the greater the risks the higher the profit. I am an ardent reader of biographies and autobiographies and I have benefitted from the stories of successful people.

Reading about successful people helps the reader with inspiration and the believe that s/he can work on their methods and steps to success. Most a time when done properly the person may find themselves exhibiting the strategies of the great men he's read about. But it locks in carefulness on the reader not to try out the potentials in them, rather they focus on things written in the biographies. In a nutshell, an entrepreneur can actually become successful by studying the behaviors of top business men in their niche.

You have a valid point. If you are noy careful, you see yourself speaking, acting, or behaving like these great men. So as we read these books there is a need to know that we have different character traits, potential, and destiny. We should just learn some behavior from them which will help us in our endeavors, but we should always look inwards to develop our potential.

Accardo

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Quote from: Fiatless on Today at 11:42:17 AM

Every businessman might not have the same story or experience. But as a young entrepreneur, you could learn from the stories of experienced business owners. You might gain some lessons from their failures which might be helpful to your business.

You are correct. Risk is a cardinal part of business. Sometimes, the greater the risks the higher the profit. I am an ardent reader of biographies and autobiographies and I have benefitted from the stories of successful people.

Reading about successful people helps the reader with inspiration and the believe that s/he can work on their methods and steps to success. Most a time when done properly the person may find themselves exhibiting the strategies of the great men he's read about. But it locks in carefulness on the reader not to try out the potentials in them, rather they focus on things written in the biographies. In a nutshell, an entrepreneur can actually become successful by studying the behaviors of top business men in their niche.

bitterguy28

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Quote from: TEBTC on Today at 08:48:14 AM

So as a business owner or entrepreneur we should should always learn and correct our from the business men and women who has made mistakes in their business by way of investing into the wrong business and even learn from why and the reason for business who has crashed and folded up in the past was manege

nobody is perfect and anyone who thinks they are the ones most likely to make mistakes in the future

we need to look at the others before us and see why and how they succeeded because they succeeded for a reason and we must learn from them aside from learning from others it’s also bound to happen that we learn with our own experiences we will make mistakes but we will learn from it

Fiatless

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Quote from: Jawhead999 on Today at 09:23:18 AM

Do you know what? if someone failed in selling fried chicken, it doesn't mean you will fail too if you sell fried chicken. If someone failed in investing cryptocurrency, it doesn't mean you will fail if you invest in cryptocurrency. If a businessman said he made mistake because he was not careful, it doesn't mean if you 100% careful with your business, you will be successful.

Being 100% careful mean you will reject a lot offer because you take very low risk which could make your business can't grow.

It's fine to hear stories from other people, but don't take their stories very seriously.

Every businessman might not have the same story or experience. But as a young entrepreneur, you could learn from the stories of experienced business owners. You might gain some lessons from their failures which might be helpful to your business.

You are correct. Risk is a cardinal part of business. Sometimes, the greater the risks the higher the profit. I am an ardent reader of biographies and autobiographies and I have benefitted from the stories of successful people.

pusaka

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Quote from: Jawhead999 on Today at 09:23:18 AM

Do you know what? if someone failed in selling fried chicken, it doesn't mean you will fail too if you sell fried chicken. If someone failed in investing cryptocurrency, it doesn't mean you will fail if you invest in cryptocurrency. If a businessman said he made mistake because he was not careful, it doesn't mean if you 100% careful with your business, you will be successful.

Being 100% careful mean you will reject a lot offer because you take very low risk which could make your business can't grow.

It's fine to hear stories from other people, but don't take their stories very seriously.

Yes, something that other people do and they fail, does not make it a reason for us to think that the same thing will happen to us if we do the same business as other people, that means there will always be opportunities and it will depend on ourselves. In fact, we are the ones who can learn from other people's failures, at what point they made mistakes that led them to failure. Even when we fail, it doesn't mean we should just give up. We have to try again, with the note that we must be able to come up with a better situation or in other words we try again when we have identified the previous mistakes that made us fail.

Jawhead999

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Do you know what? if someone failed in selling fried chicken, it doesn't mean you will fail too if you sell fried chicken. If someone failed in investing cryptocurrency, it doesn't mean you will fail if you invest in cryptocurrency. If a businessman said he made mistake because he was not careful, it doesn't mean if you 100% careful with your business, you will be successful.

Being 100% careful mean you will reject a lot offer because you take very low risk which could make your business can't grow.

It's fine to hear stories from other people, but don't take their stories very seriously.

TEBTC

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A wise man once said that learning only ends in the grave so learning is something that should be done continuously because knowledge they sai is power and you can't acquire that power without learning, because there's a relationship between learning and success especially when it comes to the business environment because everyone successful business you see today is there because of learning from mistakes over the years.

So as a business owner or entrepreneur we should should always learn and correct our from the business men and women who has made mistakes in their business by way of investing into the wrong business and even learn from why and the reason for business who has crashed and folded up in the past was manege

Topic: Learning from others investment mistakes in business (Read 47 times)