Successful property managers know how to turn mistakes into opportunities for growth. Mistakes are simply a way to recognize a hole in your process or to discover a way to do something better. Your mistake just tells you that you have to change your behavior or the processes that you already have in place. There doesn’t have to be any judgment involved. When we are fearful about making a mistake, it usually means we cannot see all the opportunities that are around us. So keep that in mind.

Seeing the Positive Side of Mistakes

Mistakes offer a way to generate new ideas, which can lead to new revenue streams or opportunities for your property management business. We learn from mistakes. Think back to when you were a kid and you had to take that big test – you never remembered the answers you got right, but you did remember what you got wrong. This is how we learn and grow as humans. There’s a process of looking back to figure out what we did wrong and how we can change it and make it better. Then, you move forward.

Mistakes Can Help You Build Trust

Use the situation to build trust. When you own your mistake, that builds trust. When you admit your mistake, people are typically willing to forgive you because all of us know that the people we work with are human. If someone confronts you with something you did wrong, thank them for taking the time to point out your error and tell that person you promise to do better next time. Maybe you can discount a service or send a thank you card to say you How to Deal with Business Mistakes and Turn Them into Opportunities – Lessons from The Property Management Coachappreciate they were honest with their feedback and offer a pledge to be better property managers. If you own your mistakes, you are on your way to growing your property management business.

If you’d like to talk more about how to turn your specific mistakes into opportunities, please contact me at The Property Management Coach, and I’d be more than happy to support you.