Sunday, January 19, 2014

Mistakes microISVs Make

"If you let any day go by that you don't try to affect your success," Colleen Moorehead, the President of E*Trade Canada tells us, "you've missed a day. You can never get it back."

Charlie Jones and Kim Doren interview Moorehead in their book "That's Outside My Boat," and ask her about the relationship between success and mistakes.

A successful enterprises requires a culture in which entrepreneurs can make mistakes, Moorehead explains. If you're not making mistakes, you're not taking risks. And not taking risks is a bad thing.

Moorehead believes that a company cannot gain a competitive advantage by simply mimicking competitors' actions and strategies. Risk taking is necessary for the breakthroughs you'll need to leap-frog your competitors.

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