"Learn all you can from the mistakes of others. You won´t have time to make them all yourself." - Alfred Sheinwold
Experience is what you get by not having it when you need it. The man who lacks experience and knows it must first make a promise to himself that he will not allow this missing factor to prevent him from trying to achive his goals and get the job done. Having done that, it is crucial for you to take the time to carefully evaluate each project you are about to undertake. I give you a four-step formula that helped me:
1) Ask yourself the following questions: What and how much data do I have immediately at hand? What and how much data is missing? Do I need to compile more? Once you have all the facts you can possibly get, you are ready to go the next step.
2) Let us start analyzing the data. I advise you to find a reliable person with whom you can check whether you have missed anything.
3) Now is the time to act on the information you have at hand. Here is where the experience factor really counts, since a proper interpretation of your data is crucial to your success. As years go by and you get older, you will make your share of mistakes in the world. Experience is what causes a person to make new mistakes instead of old ones.
4) Evaluate your information, action and the lesson learned from the experience. I have realized that almost 80% of my errors in my decisions are based on mistaken interpretation of the gathered information, not the lack of information itself.
I believe that experience will make you an outstanding executive. But remember that the trouble with using only experience as a guide is that the final exam often comes first and then the lesson. As you win some of your challenges, be cautious and set up your mind to keep on learning from your successes, so you can reapeat them. Remember to also learn from your failures, so you never make the same one twice. One of the secrets to success is reframe your mistakes as experience, learn from the and use them as a springboard to the next level.
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