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Learn From My Mistakes!

If you’ve been following my posts and articles, I hope you’ll agree that I always give you as much value as I can – for free – with great ideas and systems to grow your business.

These systems and processes that I write about and teach you in my videos are systems used by me to help hundreds of clients over the last 30 to 35 years. My clients have used them to grow successful businesses, and I have systematised them all into easy to follow steps, keys, and training products to help more people.

I used them myself to grow my own successful businesses, and my current million dollar consulting business.

So, I know my advice and ideas work!

But this week, I want to share my mistakes.

Why?

I want to share my mistakes with you so that you can learn from them and not make the same mistakes yourself! Do you love it? Take some glory from others’ mistakes and learn from them!

Seriously, there’s not a lot that’s new in the world, only in how you take knowledge and apply it to your own specific circumstances, and create something good. So, instead of learning from your own mistakes, why don’t you learn from mine and don’t make them yourself in the first place?

OK so on this video I’ll go through the business mistakes I have done and what you need to know.

 

I’ve come back from making these mistakes – and some of them were hard. If I hadn’t had my own great systems to keep growing my business, I’d have been sunk by some of them.

Let’s run through them quickly (because I really don’t want to have them mess with my mind!):

  1. Be careful when you are choosing partners. Know who you really want, know when you should support them, and when you need to quit from them;
  2. Don’t use your own money without a plan or setting a limit. Stop to conceive a plan or at least some rules about when you stop putting money in. Are you too busy to work on your future?
  3. Don’t borrow money just because you can – at least not without a plan, or a limit, or first fixing what’s actually wrong with the business. This is especially true if you have an unequal partnership in terms of what savings you have. Don’t use your money more than theirs just because you have mkore assets, and certainly not because “their wife won’t let them;”
  4. Don’t hire staff when you don’t really need them. If you hire for the look or so you can have a more comfortable life, not because you need the extra hands, then you’re heading for trouble;
  5. Make sure you take time to work on the business and not all your time working in the business.

I’ve laid it all out for you, so take advantage of it.

As I said, learning from mistakes is important in life – how much better to learn from others’ mistakes so you don’t actually get to make them?

If you want to know more about how you can build a great business – despite the lack of time and the stack of things on your desk – join me to find out about systems, step by step procedures, plans and templates that you can use.

If you saw this article in one of my social media posts – go to teikoh.com to view all the other tips, tools, resources and processes to start your business, grow it, and build it into the business that’s in your vision. Make sure you sign up with your name and email in order to get valuable business ideas sent directly to your inbox every week!

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