Learning from the mistakes of others

Long after I have forgotten the secrets of calculus and logarithms, I do remember one important lesson from my days in the Maths classroom. Analysing your mistakes and learning from those errors, is a very useful way of making progress.

My old Maths teacher (Mr Williams) used to spend one lesson a week working through the mistakes made by everybody in the class from the weekly test or homework. This was done in order to show the best way to solve any maths problem. Individuals had the chance to learn from the collected errors of the whole class.

I have always remembered the value of this exercise. Mr Williams clearly understood the importance of anticipating challenges and common mistakes associated with learning something. For example, Mr Williams understood the social pressures of learning in a group, and also the need to judge oneself in relation to ones peers. By addressing all the errors, and investigating the incorrect decisions and assumptions that resulted in those errors, everyone in the class benefited.

We think the same effect can work in career planning and commercial awareness too.

Bizenko can tap into that natural enthusiasm that some people have for promoting themselves and the need other people have to learn about business. The reason I have chosen this example of the Maths lesson is simple. To a certain extent; Maths is not about opinion, it’s about facts.

We do not wish Bizenko to become bogged down in the expression of mere opinions. The Internet has more than enough websites that allow you to express opinions (and few things are as tedious as business people telling you their opinions relating to business). Instead, we would like those people who are generous enough to offer their expertise, to offer it in the context of explaining (non-specific) mistakes, solving problems and facilitating learning or improvement. In short, in the context of making themselves look good.

I just re-read an online article from a Financial Times (London) journalist (Professor Don Sull) listing 5 myths about why companies fail. It’s an interesting piece to read and to get readers thinking.

My question is this:

What about the numerical explanation behind the case studies in his article? What do the financial records look like when a company fails? ┬áIt’s interesting to read Professor Sull’s ideas; but it could be even better to learn what business failure can look like on paper, in order that we can recognise the warning signs if it happens to us.

Who in the business world can fill in these gaps for the benefit of others?

Who amongst the business community can demonstrate their expertise, and win new followers or customers, by demonstrating their absolute mastery of the finances of company failure?

Surely there is someone reading this post who can win new business for themselves, by explaining the story behind the figures?

Or perhaps someone else can demonstrate some habits that can help to warn of impending insolvency altogether.

If I were to search the Internet for an accountant, I would be more inclined to approach the accountant who was engaged in this sort of dialogue rather then the one who just happened to live close to me and who also happened to have spent lots of money climbing the search engine rankings.

If you agree, and wish to boost your profile through demonstrations of your business knowledge, then please email us at contact@bizenko.com requesting more information.

By admin

Bizenko has been created by Nick Palmer to bridge the gap between education and employment. Basically, Nick was miffed when he graduated and didn't understand the commercial world, and once he'd learned a little bit more, he was miffed that the people he needed to employ didn't understand the commercial world. On a hunch that there were lots of people who didn't understand the commercial world, he devised a solution that would save willing participants the cost and heartache Nick incurred to resolve the problem. We hope you enjoy the service.