This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
This Website Uses Cookies
By closing this message or continuing to use our site, you agree to our cookie policy. Learn More
This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.
Plumbing and Mechanical (pmmag) logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Plumbing and Mechanical (pmmag) logo
  • Home
  • Magazine
    • Current Issue
    • Digital Edition
    • Archives
    • Product Focus
    • Truck of the Month
    • Plumber of the Month
    • Tool Tips
    • PM Profile
    • Ad Index
    • Bookstore
  • Market Sectors
    • Plumbing News
    • Mechanical Systems
    • Radiant/Hydronics
    • Solar Thermal/Geothermal
    • Green
    • Bath & Kitchen
    • Fire Protection
    • Water Quality
    • Technology
    • Codes
    • Business Management
  • Columnists
    • John Siegenthaler: Hydronics Workshop
    • Al Levi: Managing your business
    • Dan Holohan: Heating Help
    • Kenny Chapman: Blue Collar Coach
    • Adams Hudson: Marketing Strategies
    • Jim Hamilton: The Bottom Line
    • Ray Wohlfarth: The Boiler Room
    • Nicole Krawcke: Editorial Opinion
    • Julius Ballanco: Plumbing Primer
    • Matt Michel: Service Plumbing Pros
    • Dave Yates: Contractor’s Corner
  • Blog
    • The 7-Power Contractor
    • PM On The Road
  • Radiant & Hydronics
  • Multimedia
    • PM AHR Expo 2019 Videos
    • Photo Gallery
    • PM Network Videos
    • PM YouTube Channel
    • Podcasts
    • Webinars
    • Showrooms
    • eBooks
  • Products
  • More
    • History of Plumbing
    • Industry Calendar
    • Classified Ads
    • Industry Links
    • Radiant Comfort Report
    • Green Plumbing & Heating
    • PVF Outlook
    • PB Outlook
    • Sponsor Insights
    • eNewsletters
    • Subscribe to Plumbing Group eNewsletters
    • Market Research
  • Directories
    • RCR Buyers Guide
    • B.I.G. Book
    • Rep Locator
  • Contact
    • Advertise
Home » Acknowledge your mistakes and learn from them
Al Levi: Managing your businessColumnistsBusiness Management

Acknowledge your mistakes and learn from them

Value of remembering the past.

Al Levi
June 26, 2014
Al Levi
KEYWORDS business strategy / economy / marketing / sales
Reprints
No Comments
remember the past
Photo credit: ©istockphoto.com/martin meehan

There’s not much value in dwelling on the past!

Unless you’re going to learn something from it.

The keys to remembering the past in a proactive way are:

  • Don’t beat yourself up over mistakes. Acknowledge them and learn from them.
  • Learn from the times you were frozen with fear. Your need for perfection makes you procrastinate so much that you make time your worst enemy. Remember, when you procrastinate about a decision, it means you’ve already made a decision and it is usually an unwise one.
  • Let go of past opportunities you feel you squandered. And look for the new opportunities that still lay ahead.

In general, the best thing to learn from the past is what went wrong and then vowing to never repeat the same mistake. Being in business demands you learn from the holes you fell into and always take calculated risks by measuring the gain vs. the pain.

Another way to unleash the value of remembering the past is to recall when things went right or even great. These recollections embolden you to use your past successes to springboard you forward. They bolster your confidence so you’re ready and willing to take on the next business opportunity and make it work out.

You have more power than you think to make any risk you take work. If you are willing to take on the accountability, the flexibility and the selective memory that gives you the confidence to be aggressive, then you can act with speed and courage.

 

Visualize success

Watch great athletes in action. Michael Jordan couldn’t make the game-winning shots at the end if he dwelled on the shots he missed in the first quarter. Visualizing success and what you want to have happen is something many of the best athletes train themselves to do.

We can learn by letting go of what didn’t happen in the past and focus on what we do want to happen in the present. We also can do ourselves a world of good by spending solo time visualizing how our actions can garner the type of success we crave. More often than not, we must first see it in our mind’s eye before we can make it come to fruition. Try it and see if you don’t agree.

Another helpful approach as you move forward is to set clear objective goals and put them into writing so they become tangible. The goal is to do your research ahead of time. Explore what the worst-case scenario could be and weigh the upside potential. When you’re done, act based upon a trust of successes in the past and learn to move more quickly.

If you’re fully committed, you can make it work. However, know where the exit points are in your planning and how to execute them should it become necessary. I share this analogy with clients, “The time to look for the fire exit is when you enter the room … not when you need to because there’s a fire.”

That’s right. I’m the guy you see on the airplane actually reading the safety card!

I’m cautious but not fearful. I’ve got a depth of experience from having a selective memory that is more attuned to when I took a risk and it worked out. I take comfort in knowing I do my homework first and trust I’ll make lemons into lemonade.

In all my business ventures over the years, I’ve learned these three points:

  1. Do something, learn something and make money. That feels great!
  2. Do something, learn something and break even. That’s OK.
  3. Do something, learn something but lose money. That stinks.

Making money is still my favorite. Breaking even is still OK. But I have to admit I learned my best lessons when I lost money.

How did losing money teach me anything? When I lost money, I would sit down and revisit what went right, what went wrong and what would I do differently the next time.

The reality is I learned many valuable lessons from things not working out.

These temporary failures ultimately cleared the way for me to make my biggest strides in my life and my career. The reason is I learned to take these setbacks as a learning experience rather than beating myself up. I realized the project was a failure, not me. That strengthened me to learn from the experience and not use it as an excuse to get overly cautious about pursuing new opportunities.

Remembering the past and not dwelling on it is where you, too, will create the proper launching pad for the big successes that await you.

 


HELPFUL LINKS:

  • Contact Us
  • Follow PM on Twitter!
  • Find PM on Facebook!
  • Join PM on LinkedIn!
  • PM is on Google+ 

pm-subscribe

Recent Articles by Al Levi

Al Levi: It’s a drug and we’re hooked: social media world company culture

Al Levi: Money from the scrap heap

Al Levi: Behavior in the new social media world company culture

Al Levi: Sharpening the axe before you need it company culture

Al Levi: No such thing as accidental company culture

200x200_7power-blog

Al Levi teaches contractors how to run their businesses with less stress and more success through his book, seminars, webinars and his exclusive 1-to-1 consulting practice. Also check out Al’s latest business adventure as part of Zoom Franchise Company at www.zoomdrain.com/franchise-opportunity. It’s a living example of the power of manuals and more — in action.

Related Articles

Does group learning really work?

What Can You Learn From The Best?<br>Al Levi

Getting buy-in from your field staff

Al Levi: Staffing tips from my kid

You must login or register in order to post a comment.

Report Abusive Comment

Subscribe For Free!
  • Print & Digital Edition Subscriptions
  • eNewsletters
  • Online Registration
  • Subscription Customer Service

More Videos

Popular Stories

Space-saving

Preventing scale damage in tankless water heaters

The Glitch.jpg

The Glitch and Fix: Keep the cost down

Pre-fabricated snow melting

Radiant: More than just a luxury home building option

Siggy_single coil

Single coil solution

exhaust line

Dave Yates: Dominoes

PM-Rectorseal-Quiz-360x184


PM-COTY 2019

Events

December 30, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Products

2020 National Plumbing & HVAC Estimator

2020 National Plumbing & HVAC Estimator

See More Products

PM_Top20Products360

Plumbing and Mechanical

Plumbing & Mechanical December 2019

2019 December

Check out the December 2019 edition of Plumbing & Mechanical: 2020 B.I.G. Book, John Siegenthaler on geothermal water-to-water heat pump system design and installation, maximizing efficiency on small-diameter piping projects and much more!
View More Create Account
  • Resources
    • Reprints
    • List Rental
    • Contact Us
    • AEC Store
    • Blogs
    • Radiant & Hydronics
    • Industry Links
    • Market Research
    • Custom Content & Marketing Services
    • Privacy Policy
  • Want More
    • Connect
    • Survey And Sample
  • Plumbing Group
    • PM Engineer
    • Supply House Times
  • Advertise
    • Advertise
    • Plan for 2020!

Copyright ©2019. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing