Albert Einstein famously said that doing the same thing over and over and expecting a different result is the definition of insanity.
We all make mistakes and we may make the same mistake several times over before we finally learn. Making mistakes isn’t wrong, the wrong comes in actively choosing to learn nothing from it.
We’ve all done it, put money and time into product and marketing plans that just don’t work. It is the nature of business, there is no guaranteed “right” way; some things work, some things don’t. You can market a great product with a flawed methodology or have the best method and a flawed product. It can even just be the timing.
We have all reached saturation points with products at one time or another, we see our sales drop off month after month, do we keep selling that product or find a new one?
Is there another avenue or market for that product we have not yet explored, is that product still useful in today’s environment or is it time to seek a replacement?
Products and services have a shelf life, it’s foolish not to acknowledge that.
Foolish to ignore that a time will come when you change your approach or change your product. Hoping that whatever is not working now will start to work someday in the future. Yes, it might work, but by sticking with that path you might not stay in business long enough to see it happen.
We should always be willing to flex and adjust as the markets and economies do, to alter our approach, our method to fit the ambition.
Instead, analyze the product, the market, the street you are on and be willing to adjust your route to get you to the other end successfully. If you see or encounter a hole in your path, you may fall into it the first time but once you climb out, remember it for the next time and learn from it. Learn about the other paths you could have taken, the other routes to get you to the same destination.
Don’t be afraid to change your strategy if it is necessary to do so.
Believe in yourself.