Yes! I Screwed up

13 Mistakes That Make Your Business Better

Yes! I Screwed up by Miloe Van Beek

Of this book I only found a Dutch version. But it contains invaluable lessons.

Yes! I Screwed up is different from the others because it is a book about failure, what went wrong, at start-ups, and not about success stories. Instead, it is about the mistakes of entrepreneurs and the associated lessons identified, so that the reader, who wants to become an entrepreneur, can learn from them. It is therefore not a written procedure for safely leading a company to success. Yes! I Screwed up consists of 99% sample material, which makes it very appealing.

Among other things, in Yes! I Screwed up, the following lessons were discussed:

• Are you making a product? Don’t make the first batch too big.
• Make sure you have thought about testing the product thoroughly.
• Collaborate with the customer. Know his taste.
• Admit your mistakes, say sorry, and fix the problem.
• Sit around the table together and think constructively.
• Do not freeze in the face of adversity or opposition.
• Trust that you’re wrong to get it right.
• Dare to make mistakes. Winners also fall, but stand up again.
• Dare to ask for help.
• Don’t relate the marketing budget to the revenue.
• Talk to customers. Unknown makes unloved.
• A marketing campaign is needed, but so is a sales strategy.
• Know what the customer needs.
• Don’t attach any value to the outcome during the sales conversation. Don’t build up stress.
• Ask the other party if they like your idea.
• Don’t be there for everyone. Start with a smaller audience.
• Give consumers a lot of attention to convince them.
• Ask the customers about their interests. Work towards that.
• Avoid tunnel vision of your own idea. Know the needs.
• Go to the market at an early stage and ask for constructive feedback. Start small. If necessary, be a little ashamed.
• Talk specifically about the price.
• Slim down a business idea if it doesn’t meet the needs of the market enough.
• Regularly test the evolution of the customer’s needs.
• Make sure you get to the market when the need for your product is there. Timing is important.
• Work towards your goal in small steps.
• Be careful with too much funding.
• Dare to bluff responsibly.
• Collaborate with others when appropriate.
• Be on time with innovation.
• Anticipate changes in the market. Create an agile culture.
• Look out for and to other products.
• Brainstorm ideas extensively. Let the entire shop floor think along.
• Beware of so-called vanity metrics.
• Motivate your team through change. Communicate frequently.
• If there are dozens of providers, do something else. Do something special.
• Stay sharp when things are going well.
• Focus on the numbers. Use all kinds of indicators.
• Get customers to pay. If necessary, use an accounts receivable policy.
• Prepare your financial conversations well.
• Don’t let investors disrupt day-to-day management.
• Beware of too much money from investors.
• Raise the alarm in time if things go wrong.
• Borrowing money also costs money.
• Look at long-term perspectives.
• Watch out for a feeling of superiority. Put it away from you. Don’t walk next to your shoes.
• Don’t grow for the sake of growing.
• If the economy is down, your business can flop in one fell swoop.
• Don’t indulge in excessive media attention. Be involved in realizing your vision, mission, strategy, goal. Media attention does not provide a business model.
• Focus on your goals. Not on the resources.
• Be careful to say yes to fun projects. Does it fit into the business? Be careful with too much enthusiasm. Choose wisely.
• During growth phases, watch out for chaos and lack of focus.
• Choose a goal to guide you.
• Watch out for stress. Listen to your body. Watch out for burn out.
• Love your private situation sufficiently. Not just your family.
• Working seventy hours a week is not good for anyone. Take a vacation.
• Always keep the big picture in mind.
• Plan as the year progresses sufficient resources.
• Don’t grow until you’re ready.
• Don’t get lazy when things are going well.
• Don’t procrastinate. Take action on time.
• Know that the shop floor and middle management have a very keen sense of the situation.
• 10 years of growth time to reach 20 employees is normal.
• Communicate extensively with the employees.
• Go by numbers, don’t just rely on gut feeling
• Listen to advisors’ opinions. Don’t be cocky. Steal ideas.
• You don’t get any better from hearing how well you’re doing.
• Know why you want to do business.
• Share your mistakes with others. Learn from the mistakes of others.
• Talk about potential choices with third parties.
• Don’t start a business with friends.
• Make sure you have sufficiently complementary partners and employees.
• Together is better than alone. Maybe with three. But only based on previous collaboration.
• Be careful with new graduates.
• Go to a bar with a potential employee. Check if there is a click.
• Discuss the terms of work thoroughly. Trust alone is not enough.
• Don’t rely too much on one person’s commitments.
• Invest in personnel and in a personnel policy.
• Learn to delegate.
• Know when to stop. Base this on numbers.
• There is no shame in failure.

Title: Yes ! I Screwed up – 13 fouten die je bedrijf beter maken, Author: Miloe Van Beek, Publisher: Van Schouten & Nelissen, ISBN: 9789462721012, lessons identified