Hindsight & Learning from Mistakes

While in London, I decided to continue the research for my upcoming book. In doing so, I had the opportunity to interview an extremely successful businessman who has been in distribution for close to 20 years. We began to talk about the first time he ever made 6 figures, and had to clarify that 100,000 pounds can be quite different then 100,000 dollars depending on the going exchange rate. He explained to me that the first time he had made over 100,000 pounds was 8 years into his career. He mentioned that ambition was critical to his success.

When I asked him what one thing would be that he would share with someone who wanted to attain his level of success, he said “hindsight” and applying what you have learned from your mistakes. At this point I asked him to elaborate a bit more. He went on to explain that great business people often learn from their own mistakes, as well as those of others. By learning from one’s own mistakes and also learning from the mistakes of others, one can readily gain the knowledge it takes to be a success in business. He went on to add that the more quickly you can learn from various mistakes the more efficiently you can learn to be successful at whatever it is you do. Time is money and the faster you learn, the more quickly you will rise to the top.