4min chapter

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276: $10,000 Learnings

The Superabound Podcast

CHAPTER

Turning Mistakes into Value

In this chapter, explore the importance of reflecting on mistakes and learning from them to create value and grow a business. Discover how ego and fear can hinder facing mistakes, and learn about tools and processes to overcome these barriers. Discover how routine reflection and turning mistakes into profitable opportunities can lead to wisdom and growth.

00:00
Speaker 1
And I think even just the reframe of this was a mistake. Let's fix it or let's put a process in place to never do it again to actually how can we create $10,000 worth of value from this can help you change your mindset from one of, all right, let's grit our teeth and, you know, handle these mistakes versus how can we grow our business from here? How does this open up even more doors for us? What do we learn that's so valuable? We would pay $10,000 for that lesson or it will potentially create $10,000 or more in revenue for us. I was reading a book about a trading firm that had done a bet that went $300 million in the wrong direction and there was no retrospective on it. They didn't even pause to say, hey, why did we make that bet? They just kept on moving. And the person in the center of it was asking that question, why was there no conversation about this? And I think it's central to many people's ego, many people's sense of who they are not to face big mistakes, not to ask, why did this go wrong? What can we learn from it? Maybe they're afraid of admitting that they messed something up. Maybe they don't want to make other people feel uncomfortable and that's all natural. It's understandable. So that means we need as many tools as we can get to go against that. Your ego is going to want to defend against mistakes. You're going to want to not look into them because it's painful. It's embarrassing. It's all of those things. But if you shift your mind and say, yes, we had a hiccup. Yes, we dropped the
Speaker 2
ball. This was not ideal, but how can we create even more value from this? That's going to change everything for you. Yeah. And in the super around ecosystem, we have this sort of baked into the method in a few different places. When we work with people who are having a lot of emotions about something that's happened in their world, we have a process where we call it healing static, where we actually go through and try to find even the lesson or the wisdom from the emotionality and not to circumvent feeling it. It's still important to learn how to process your emotions and deal with those in a healthy way. We're not bypassing emotions, but it is really helpful to get into relationship with those moments and those experiences because they're going to happen because we're humans in business and things don't always go the way we want them to. I don't know. That's probably not a news flash for any listener, any leader, any business owner out there. But it always feels like a sting no matter how many times things happen in your business that aren't ideal. Learning and having tools for working with your own emotions around that is really, really important. It's something that we teach a lot in our programs and with our clients. And then we also have it baked into the process of how challenges are taken care of and how experiments are run in the businesses we work with. Having a period of reflection that is routine is really important. Anytime you're finishing a project, maybe it's a Friday check-in, something where you have a chance to reflect on where the $10,000 lesson is, what it might be, ways that you're going to avoid mistakes next time or ways you're going to take a mistake and turn that into something that's profitable and beautiful. It's a really creative way of working with things that out in culture, just kind of suck, but in your business, can be very valuable raw materials for something new to be created.

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