Simple Rules for Managing Mistakes and Failures

Dean A. Shepherd (), Holger Patzelt () and Nicola Breugst ()
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Dean A. Shepherd: University of Notre Dame
Holger Patzelt: Technical University of Munich
Nicola Breugst: Technical University of Munich

Chapter Chapter 12 in 66 Simple Rules for Entrepreneurs, 2024, pp 109-118 from Springer

Abstract: Abstract This chapter offers simple rules for managing mistakes and failures. These simple rules are: to be successful, you need to be prepared for and manage failure; yes, you can learn more from your failures than your successes, but it can be more challenging than you think; you cannot choose to be error free, you need to choose which error you will regret less; prepare for crises because they will likely happen (you just don’t know what or when); and if you caused a mistake that was a core violation of your entrepreneurial venture and negatively impacts others, then you better make a good apology.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-62032-4_12

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DOI: 10.1007/978-3-031-62032-4_12

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