Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Acknowledge Mistakes Sooner, Not Later

Posted by: Rod Kurtz on September 9, 2005

Successful companies take calculated chances when launching new products or beginning new ventures. Many times new ideas are successful and contribute to a company’s increase in revenues and profits. However, mistakes are also a part of the process, and knowing when to admit defeat can save valuable time and money.

For the most part, you and your managers know when a mistake has been made. Stepping up to take responsibility shows real leadership. The faster you fix problems, the less mistakes cost. It also leads to greater respect from the organization. Hiding from the truth is like a cancer that can spread quickly and disenfranchise a company’s greatest assets — its employees.

Chris Indelicato
Owner and CEO
Delicato Family Vineyards
Napa, Calif.

Post a comment



Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!