I am a big believer that we learn from our mistakes. I am also a big believer in sharing my shortcomings with other entrepreneurs to help them learn from my mistakes.
I often share that one of my biggest mistakes when I first launched Just Between Friends was not setting – and following – a strict budget. Money and numbers was not my strength so I chose not to deal with it in the beginning. I learned my lesson though and began surrounding myself and my business with smart “money people” – and it has paid off. Now I delve right in to the numbers and plan and budget each year. It has helped me be a stronger leader and helped our franchise system to grow.
In this great article from Wall Street Journal, four small business leaders share their biggest failures. Enjoy – and share a “failure” that ended up being a great lesson in your business.
Just Between Friends is actively seeking franchisees throughout the U.S. and Canada. Click here for more information on joining the JBF team.
Image © Iqoncept