October 2026: Great managers humbly learn from their failures.

People make mistakes. In life, there are times of success and times of failure. How you think and act when you fail greatly changes the course of your life.
Business owners make mistakes too. Business always involves risk. Sometimes you succeed, and sometimes you fail. How a business owner thinks and acts when they fail greatly impacts the future of his or her business.
Foolish managers cannot learn from their mistakes. They simply regret their failures and blame others. By blaming others, they try to justify themselves. Justifying themselves may protect their pride, but if they do not learn from their mistakes, they are likely to repeat the same mistakes in the future.
Great business leaders learn from their mistakes. They try to find out "what they gained" from their failures. They don't regret their failures or blame others; they "learn" from them. By "learning," they can prevent failures from happening again and find actions that are more likely to lead to success. By learning from their mistakes, they avoid repeating the same mistakes.
Perhaps the difference between a great manager and a foolish manager lies in whether or not they can humbly learn from their mistakes.

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