Ask an Expert: Entrepreneurs, here's to making mistakes

— -- Q: Fall always feels like the new year to me with the kids going back to school and all. Do you think this year will be better than last? — Emile

A: It couldn't be much worse, could it? Like many others, I do indeed see things continuing to improve as this calendar year winds down, and getting better next year especially.

I think the real question is — what are you going to do to make it better?

By now, you know the drill. I don't need to tell you to work smarter, or market more, or increase your networking, etc. If you are still in business right now, you have figured those things out for yourself, along with plenty more.

That said, you got me thinking. The kids are indeed going back to school, and like us, they want this year to be a good one, too. My youngest daughter, Mara, is starting high school tomorrow (bittersweet for this old dad for sure!) and the more we talked, the more I thought what my wife I were telling her about high school is pertinent to many of us, too, me included.

Here is what I mean: One piece of advice I gave her was, "Get involved." The more you put into school, high school especially I said, the more you will get out of it. But it is a point equally as valid for any small business person — just ask my pal Bill.

Bill is a freelancer, and like many small business people, he found it frustrating and isolating to work alone most of the time. So about a year ago, Bill made a conscious decision to get more involved in his community. As a result, not only was he happier, but his business took off. Between joining Le Tip, and his local chamber, and taking some development classes at the local community college, and sponsoring a local Little League team, Bill expanded his network greatly, met lots of new people, increased his happiness quotient, and yes, grew his business.

Of course this also fit in with other things that my daughter had been hearing from us, her big sister, and friends, namely, be open to meeting some new people and making some new friends. It turns out that that is as important in business as it is in school. I think the thing my pal Bill liked best about his year of living socially is that he got out of his self-imposed cocoon and made a couple of new friends.

I also liked the piece of advice one of my brothers gave my daughter — "make a mistake" he said. It wasn't "don't be afraid to make a mistake" but to actually make a mistake. His point was that in her willingness to try some new things, my daughter would have to be a bit fearless and not worry so much about how it might look. That is especially valuable advice for a teenager.

It's not bad for an entrepreneur, either.

I was watching the new ABC show Shark Tank last night and was fairly disgusted by something I heard. One of the sharks, Kevin the billionaire, hammered one of the would-be entrepreneurs because he had filed a personal bankruptcy at one point. "Don't ever file bankruptcy!" Kevin bellowed.

Easy to say when you're worth a couple of billion, eh, Kevin? But for most entrepreneurs, bankruptcy is the safety net that makes taking a big risk on a big idea more tolerable. No, of course no one likes to file bankruptcy, but unless you are willing to swing for the fences, you will not hit the business homerun. You may knock it out of the park, or you may strike out. That's the risk you take. That's the juice.

So, yes, make a mistake, my sweet Mara. Try and hit one out of the park. You will, and you'll whiff a few, too. That's perfectly OK.

Today's tip:Do you have a business travel horror story? It might earn you a free trip to Hawaii. Embassy Suites Hotels last week announced the launch if its "My Business Travel Blunder" contest, where entrants can win a complimentary vacation just for revealing their most "blunderful" business travel story. You can enter here.

Ask an Expert appears Mondays. You can e-mail Steve Strauss at: sstrauss@mrallbiz.com.And you can click here to see previous columns. Steven D. Strauss is a lawyer, author and speaker who specializes in small business and entrepreneurship. His latest book is The Small Business Bible. You can sign up for his free newsletter, "Small Business Success Secrets!" at his website —www.mrallbiz.com.