The Place – Creston Brewery: Creston Brewery specializes in high-powered, experimental beers created by Brewmaster Scott Schultz. Perfect for the beer lover who wants to try new brews and push the boundaries, Creston also provides a full menu at their beautiful pub in Grand Rapids.
The Business Leader – Derek Coppess: Derek is the founder of 616 Development, an innovative development group that seeks to renovate urban buildings into multi-use spaces that foster both business and community. This combination of heart and versatile residential development has already led to the remodeling of many urban locations in Grand Rapids, and the organization is just getting started.
Derek and 616 Development have an impressive resume of successes – but the development world isn’t an easy one, and it can teach a lot about moving through mistakes. Here’s how to deal with them.
Mentors are a win-win relationship for entrepreneurs. Mentors enjoy the energy and new ideas that come from newer entrepreneurs, while those new to the industry can benefit from the mentor relationship. That’s particularly true when it comes to making mistakes: A good mentor can help you understand what went wrong, sympathize with the problem, and then clearly state what you need to do to correct it (prevention is nice too, but don’t expect mentors to stop you from making mistakes). Facing mistakes solo is frequently a mistake. Find someone else that can help you learn from the experience instead.
Keep up on the latest thinkpieces, recommended books, and reports in your industry. Don’t just pick them up from time to time – follow them religiously. This helps you deal with mistakes in two different ways. First, it encourages you to find new opportunities and solutions to setbacks that you are currently dealing with. Second, the knowledge you gain allows you to look back at past mistakes and think, “Oh, that’s where I went wrong.” Sometimes we learn the most from our mistakes months or weeks down the line (sometimes in another business entirely), when we can use new information to analyze our problems – and avoid repeats in the future.
Every mistake should ultimately build your self-confidence. Why? Because that’s one mistake you don’t need to make anymore, and one step toward experience that your competitors don’t have. The old sayings about mistakes paving the path to success are true. So it’s all right to feel downcast when your venture runs into rough times because you made a bad decision – but it’s also important to let those feelings run their course and find new confidence, because now you know more than you did.
Moving past mistakes is important – but it’s also good to acknowledge those mistakes. Don’t give into fake self-promotion, ignore unpleasant data, or try to make yourself bigger than you are. The more honest you are about your own experiences and mistakes, the more you will relate to others in your industry, especially those who have already been in your shoes.
To find out more about how Derek got his start and built his development projects from nothing into a very big something, check out the full video!
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Oct 2, 2017