December marks the beginning of reflection season in our home. And, as I reflect on the mistakes I made over the course of the year, I expect to find myself repeatedly going back to the quote – “Success comes from good judgment. Good judgment comes from experience. Experience comes from bad judgment.”
There are many ways to account for mistakes – the normal place to start is by marking them in red ink in the “loss” category. But, this quote never fails to reminds me to think of failures in the investment category for the future.
The only mistakes and failures that deserve to be counted as losses are those that we repeated. The rest are investments that will pay themselves forward many times over in the form of good judgment if we invest in learning from them.
So, here’s to that.