8 dumbest business decisions ever made

Discussion in 'Growing and Managing a Business' started by RestOwner, Apr 26, 2010.

  1. RestOwner

    RestOwner
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  2. Fergal

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    Interesting and amusing article, anyone who is very successful will have made mistakes along the way. The only person who doesn't make mistakes is the person who doesn't make anything.
     
  3. Kay

    Kay
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    I second that emotion. The trick is to learn from them too. I've ran across people in business that repeatedly made mistakes and refused to acknowledge it because they were too arrogant. They were their own worst enemy.

    That said, neither successes nor failures are avoidable if you're willing to stick your neck out. When you've been working for decades, you experience both at some point. I would guess that many of those featured in that slideshow made several excellent and profitable decisions throughout their careers too. They are just not so much fun for journalists to point out. :D Sometimes we need to fail in one respect to succeed in another.

    Look at a stone cutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred-and-first blow it will split in two, and I know it was not the last blow that did it, but all that had gone before. ~Jacob A. Riis
     
  4. RestOwner

    RestOwner
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    that is why we should be afraid of taking risk coz taking risk may lead us to success
     
  5. miles2152

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    So you don't want to be successful? Risk is just part of the game. Most entrepreneurs feed off it. It drives them and makes them want it even more. Most of the business owners I know started their business for freedom, independence, self preservation, and money all of which require you to be successful at what you do. Everyone who has ever started a business has failed at some point, but it is through those failures that they become successful.
     
  6. Fergal

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    Welcome to our business forum miles2152.

    I fully agree with that, we learn a lot more from failing than we do from succeeding. Some people describe it as "learning the hard way".
     
  7. Shotgun

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    Wow, very interesting article. I am sure many of them have huge regret.
     
  8. Fergal

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    I'm not sure that they would. Many successful people claim that they don't do regret. They do their best with the information they have available to them and move on. There is not much to be gained from looking at the past and regretting what could have been. Successful people know this and have trained themselves to focus on what needs to be done, without the distraction of regret.
     
  9. GekiDan

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    Well, most of us regret something in our life even the businessmen, only the time after you accept what happened varies from person to person.
     
  10. Fergal

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    True GekiDan, it is hard to avoid regret. What I've been trying to do recently is, accept full personal responsibility for whatever happened, think about what I can learn from the experience and move forward with a determination to do a better job next time round.
     

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