BY JP MARONEY
Here is an idea that will save you a lot of time and frustration in anything you do. Learn from other people who have already done what you are attempting.
When I started my first business, all I had was an idea and a lot of enthusiasm. I was nineteen years old. I had no prior business experience, no business mentors, and I had never read any business or personal development books.
It didn’t take me very long to learn that I didn’t know what I was doing. And it didn’t take very long for that business to go out of business. But, I did learn from my mistakes and experiences.
By the time I started my second business, I had read a few books, and begun to seek out other people who could share their experiences about starting and building a business. I still didn’t have all of the information I needed, but I did much better this time.
My biggest mistake, and ultimately the reason for failure was my lack of focus.
The third time I started a company, rather than simply rely on my own experiences, I devoted my energy to finding out what other people had done to succeed.
I read hundreds of books. I think this is a real key to success. Not only do you gain information about how to accomplish your goal, you also receive inspiration because you realize that anyone who has ever achieved something great has also endured many setbacks and failures. So, reading builds your belief.
And, there are no good excuses for not reading. If money is your excuse, go to the library and pull all of the books on the subject you are interested in. That will be several dozen, perhaps, several hundred books.
Another thing I like to do is go to used book stores. Books are so cheap there. It amazes me that people actually get rid of their books. I don’t. I keep every book I buy.
You can also buy books very inexpensively at garage sales. Again, stupid people get rid of good books, and they sell them very cheaply. You might get an idea out of a book that cost you a quarter, which could produce a quarter of a million dollars in income for you. Now, is that value or what?
If time is your excuse, let me blow that one real quick. Turn off the TV, and get off of the internet. Now, you’ve probably picked up at least two hours a day for reading.
Also, start taking books with you everywhere you go. When you have a few minutes, pull out a book, and read a few pages. I even keep a stack of books in the rest room. OK, don’t laugh, but that’s what I do. I keep books in my truck. Sometimes I have to wait for other people to arrive, giving me time to read.
Here’s how to read a lot in a little amount of time. Scan the pages, looking for key words and headlines. Underline information that’s meaningful to you. That way, you can go back and refer to the book later, and quickly find the portions of the book that relate to what you are trying to accomplish.
You don’t even have to read the books. That right! There are hundreds of books available on audio format, as well as speakers like me who have audio programs based on their seminars and speeches. You can listen to those in your vehicle.
Most people spend at least an hour a day in their automobile. Many people spend much more. Make that time work for you. Instead of listening to the latest, greatest songs (all of the time), use some of that time to educate yourself.
You can even listen to audio cassettes while dressing in the morning, and before you go to sleep at night. Just find some time to fill your mind with positive thoughts and good information.
I also talked to dozens of other business people in a similar industry. I wanted to know what they were doing to succeed. Now, not everything they said applied to me. But, at least I had the option of using the information they shared.
I tapped into resources like the Small Business Development Center (SBDC) and the Service Corps of Retired Executives (SCORE). Once a week, for months, I went to the SBDC offices and spent time with the executive director, going over my numbers, and working on my business plan. He became an excellent sounding board for my ideas.
The guys at SCORE were invaluable. They held decades of experience between them, and provided me with great wisdom in relation to building my company. Hey, the resources are out there, you just have to tap into them. I did everything I could to learn from the experiences of other people.
In my experiences, I have learned that there are three kinds of people in this world.
 1) Stupid  2) Smart  3) Successful
Which are you? Here are the details.
Stupid people never learn from their own mistakes. Smart people do. But, successful people learn from the mistakes of others. Let me tell you a true story.
In 1999, when I sold my magazine publishing company, the two individuals who bought the company never, ever asked to meet with me to discuss why I did things the way I did them. They never asked what mistakes I had made (and I’ve made a ton), or what I had learned from those mistakes. They never, not one time, asked for ANY of my experiences from the four years since I had started the company.
Now, that’s simply stupid. Why would you pay good money to buy an existing business, and then not take time to find out what had been done in the past, and why, so you could avoid making some of the same mistakes that had already been made?
Duh!
Listen, to survive, you just can’t afford to not learn from your own mistakes…that’s a given. But, to really succeed, you need to learn from the mistakes of other people.
Why?
Because if you rely completely on your own experiences, you limit your knowledge, but if you rely on the experiences (mistakes and successes) of others, you multiply your knowledge, and greatly reduce your possibility for failure. Can it get any simpler than that? I don’t think so.
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JP Maroney a.k.a. “The Pitbull of Business” is a business growth strategist, best-selling author and award-winning speaker. Receive his FREE book, “5 Ways to Double or Triple Your Business” by visiting www.JPMaroney.com
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Great article JP.
One of the most impaortant things you can get in business is feedback.
That’s what mentors provide.
I’d much prefer a mentor providing feedback on what doesn’t work, than have the market teach me the same lesson at a significantly higher cost.
The moral, learn from the mistakes and experience of a wise mentor than find them out the hard way. Your ego should be a lagging indicator when it comes to making money!
Cheers,
Mike
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