Day 87: Ted speaker Miles Burke shares 11 lessons that he has learned from making mistakes.

I’ve been doing my 365 Days of Ted challenge for 87 days now and a pretty glaringly obvious truth has emerged – failure is the foundation of success. I’m not making this stuff up!  Ted speaker Miles Burke is a self-professed failure, but there is a silver lining. In his Ted talk “11 lessons learned through mistakes,” Miles shares with us what some of his mistakes have taught him.

87- Ted speaker Miles Burke shares 11 lessons that he has learned from making mistakes.

Miles broke down his Ted talk into 11 bite sized nuggets of wisdoms that we can all use into our business lives.

11 Lessons learned through mistakes – according to Miles Burke

  1. Mistakes can be lessons or failures.  It’s up to us what we decide to do with our mistakes. Are we going to sulk or feel sorry for ourselves, or are we going to use that mistake as a learning tool to grow.

Ted Speaker Miles Burke quote compiled by website confetti

  1. Dream big, plan small.  Miles says that although dreaming big is good, all entrepreneurs do it, you need to plan small, plan for next week, next month, next year. Dreaming big is useless if you don’t have a plan behind it. Get those milestones in place
  2. Be passionate. Passion need to be the backbone of your work.
  3. Find a mentor.  Miles says that it is important to find someone to bounce ideas off. It doesn’t need to be a traditional mentorship relationship, but that support network is crucial.

  • Reduce time  Miles touches on Parkinson’s law which is a theory that work expands in relation to the time allocated to complete a task. Miles suggests reducing the allocated time for set tasks. Start small, shave off ten minutes, and keep decreasing the allocated time until you find the right duration to complete a task.
  • Strengths and weakness. Know what your strengths and weakness are. Once your weakness are identified you have a decision make. You can improve your weakness so that it turns into a strength or you can outsource or delete tasks that are not your strong points.
  • Share with others. Miles shares his profit and loss statement with his team so that they can feel like a part of the team. I don’t know if I would go that far to share my P&L statements, but I wholeheartedly agree with letting your employees feel like they belong to something and not just getting a pay check each week.
  • Profit, not turnover. High turnover is great, but profit is key and profit is what keeps a business thriving.
  • Solve problems. Miles uses a great analogy of going into  a hardware store to buy a hammer.  He says that consumers aren’t really going into the store to buy a hammer, but rather they are going into the hardware store because they need a nail in the wall.  All any business is really doing is solving problems.
  • template for lessons 87

    1. work / life balance.  It’s so easy for entrepreneurs to get wrapped up in their many projects and businesses that they unintentionally neglect the other, more important, part of their lives – their families. It’s important to check in on yourself regularly to make sure that you are leading a balanced life.
    2. Have fun, make mistakes. Miles last tip. Have fun in your business and know that it’s okay to make mistakes.

    There you have it. Miles 11 tips born out of mistakes. Do you have any tips from mistakes that you have picked up along the way? If so please share them below.

    Vanessa Rose