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Know the 5 Stupidest Mistakes Successful s Make

September 6, 2020

7 min read

The opinions of the employees of You are personal.

Know the 5 Stupidest Mistakes Successful s MakeKnow the 5 Stupidest Mistakes Successful s Make

For a Beginner and even one who already has experience to commit error it’s always daunting. Whether you missed a number or steered your business in the wrong direction, any mistake can reduce your motivation and make you feel incapable Run your business.

However, there are always two positive things to remember when you make a mistake. First what are Learning opportunitiesBecause if your mistake hasn’t killed anyone (including yourself), there is an opportunity to learn basic lessons and move forward as a person with more information and experience. Second, everyone pledges, even some of the most successful entrepreneurs in history.

And if you don’t believe me, check out these examples:

1. Reed Hastings nearly wiped out Netflix

5 things Reed Hastings does when he's not running Netflix

Image: Bloomberg | Getty Images

Netflix It has grown into an unstoppable giant, with millions of loyal subscribers and a market value that keeps increasing every day. But in 2011 Reed hastings, Co-founder and CEO of the company, made decisions that nearly led to the extinction of Netflix. Hastings announced that the brand will launch a new service called Qwikster to start their DVD delivery service. This move would separate the two main services, complicate things for users, and increase prices significantly.

The negative reaction was immediate and violent, so the decision was changed and Netflix gradually regained the public’s trust. What about Hastings? On this subject he had something to say: “The hardest part was dealing with the feeling of guilt. I love the company. I’ve worked so hard to make them a success and I’ve watered them down. I didn’t care about the public shame. What really hurt me was knowing I made a big mistake and hurt the love people had for Netflix.

2. Tim Cook allowed the fiasco with iOS 6 Maps

According to Apple's board, Tim Cook must from now on

Image: Justin Edmonds | Getty Images

With the release of iOS 6, Apple decided to have its own map and navigation app instead of continuing to use Google Maps. However, the product had many bugs and misdirected addresses, which resulted in thousands (if not millions) of people being lost within the first week of its release.

Because Apple had built a reputation for doing things with the utmost excellence, this situation was particularly difficult. Tim Cook, Apple’s CEO, took responsibility for his mistake in an open letter to Apple users, saying, “At Apple, we are committed to creating world-class products that provide our users with the best possible experience. However, with the introduction of our mapping application, we did not fulfill this obligation. “

To meet its customers’ browsing needs, Cook suggested using third-party alternatives like Google and Nokia apps.

3. Richard Branson tried to sell Coke.

What Richard Branson learned from his 7 biggest mistakes

Image: Simon Dawson | Getty Images

Virgin’s founder has been involved in all kinds of businesses, from record sales to aerospace, but not all of his business ideas are grounded. Despite a strong presence from brands like Coca-Cola and Pepsi, Richard Branson attempted to market a version of a cola called Virgin Cola in 1994.

And about it he wrote: “With Virgin Cola we believed we could outperform our competitors like Coca-Cola and Pepsi, but as everyone knows, it turned out that we hadn’t thought things that well. It’s crazy to declare war on Coca in the soft drinks space. “Certainly a hasty decision that failed to take into account the right factors, but the parent company clearly survived and was well on its way to success.

4. George Lucas sold Pixar

10 quotes from George Lucas to help you follow your dreams and indulge your passion

Image: Phillip Faraone | Getty Images

Pixar, the animation studio for iconic titles and franchises like Toy story and cars, originally it was a division of LucasFilms, George Lucas’ company. Although the studio was created to produce new imaging technologies and computer effects, many of those who worked there were more interested in making animated films.

George Lucas, who was not interested in animation and was in a financial crisis, decided to sell Pixar to Steve Jobs for $ 5 million. At the time, it seemed like a good idea because animated films were not making huge profits and few could predict the massive changes that computer animation would bring to the film industry. Given the numerous subsequent hits Pixar had and the $ 7.4 billion Disney paid for them in 2006, those 5 million jobs were a heist.

5. Masaru Ibuka started with a pot of rice

Image: Public Domain via Wikimedia Commons

At the beginning of his career he co-founded Sony Masaru Ibukaused his factory to build an electric rice cooker that could be used every day. In theory, the idea had potential: the Japanese eat a lot of rice and needed a device that would help them cook. Unfortunately, this Ibuka pot was terribly inconsistent and while many improvements were made to the design it was a complete failure.

After this failure, Ibuka left his kitchen wishes behind and opened a repair shop for appliances in a department store in Tokyo with a few employees. He later made the first cassette recorder in Japan with his partner Akio Morita and Sony began to make history.

So keep in mind: it’s always good to watch others’ mistakes, especially when it comes to people who managed to succeed despite those mistakes. Perhaps the silver lining is knowing that we are not the only ones who are flawed and that there is always something we can learn.

Be inspired and learn from this entrepreneurial landscape and the leadership failures of others, and don’t beat yourself up too much for making your own mistakes.

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