Make New Mistakes

Dr. Hermann Hauser, in a lecture at the Cambridge Center for Entrepreneurial Studies, spoke of the four big mistakes faced by the entrepreneur of today.

Time

“Everybody underestimates the time that a project takes. I was first introduced to the Einsteinian problem of time dilation early on in my physics career. The people in the workshop gave me a good rule of thumb, they said; ‘If you think something takes x amount of time, say half a year or so, multiply it by Pi.’ It usually takes just over three times as long as you think.”

Money

“Closely correlated with the time aspect is that of money. It always takes more money than expected.”

Market Size

“Over estimation of the market size is an enormous problem. Especially when it comes to over-enthusiastic young people who can see how wonderfully attractive this new product is... but nobody else does. This market size issue is a key problem...”

People Issues

“It is surprising how easily people fall out with each other, so watch out for that as well. It is a common mistake.”

“My conclusion is this, mistakes are going to happen all the time. Learn from the old ones and try not to repeat them. Try to make new mistakes. If you are not making new ones you are not trying too hard. Also, mistakes come in all guises. There is a very large number of different mistakes, although some are more common than others. Experience does actually help, so listening to some of us does pay off. You should at least listen. You don’t necessarily need to implement what we suggest, but listen, because we’ve come across most mistakes in our careers. Last but not least, learn the basics. People often ask me, ‘Aren’t entrepreneurs born, you can’t train them so you shouldn’t even try.’ Well, I always say, perhaps you cannot make a tone deaf person a concert pianist, but giving them a piano sure helps.”

Fail Fast

I cannot remember the location, but I remember the story like it was yesterday. A man and his son facing that moment where the son’s right of passage meant an extreme hiking trip with his father. Big hopes and excitement confronted them both. At one point, during the hike, the son stumbled from the path and began to stumble down an incline littered with shale. Trying to right himself, the boy began to run faster and faster down hill until he was out of control. His father, knowing that at the bottom of that shale was a drop-off of over one hundred feet, began to give instruction. The boy could not see it nor was he aware of the danger. The father began to scream at the top of his lungs, “Fall Down!” He even extended his arms and legs to instruct the boy in a futile attempt to force the child’s action. “Fall Down! Spread your legs out and fall! NOW! Do it!” Doubtless, all the boy was thinking about is how much pain it meant to fall, and he continued to try to gain his balance. To the father’s horror, the son plummeted to his death.

I remember telling my children that story to reinforce a truth that I wanted them to learn. That is, that they must trust my word and do as I say immediately. There will be times when I know better, even if it hurts.

What a fabulous (although unfortunate) lesson for us as leaders. Failure is never what we intend. However, if we are going to fail, we really need to fail fast. Prolonging your fall can lead to death. By failing fast, you may be battered and bruised when it is all said and done, but at least you are alive to rebuild.

Reality Check

Some of you are failing! Is it you? If it is, you have choices. If you are in business, call your superior and be honest. If you are a pastor, call your DoM or other leader who you see as a value to you. If you are a DoM, call the Associational Strategies Team at NAMB and ask for a coach. If you can, attend a learning lab, conference, or find a mentor. There are many of us who care. We want to help.

Final Note

Every organizational leader desires to lead transformational change. If that’s you, you will fail in some of your many endeavors. Fail fast. Seek the Father’s guidance, pick yourself up, and pour your energies into the idea that seems to be gaining ground. Remember to always measure and assess your failures. If you can, failing fast will make you stronger.