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Every business transaction teaches us some lesson, if we remain alert enough to recognize it.
It seems there's more to learn when we lose. Yet, we're tempted to put failures behind us quickly without dwelling upon the events and assessing how, when or where things went wrong.
Search for lessons learned. Especially, when you have lost. Gather together these lessons to identify elements, actions or events that are common to other transactions. Collate, analyze or categorize to find any encompassing lessons indicating a possible need to modify future behavior.
On the other hand, not getting what you want is sometimes a wonderful stroke of luck.
Our MBA class was divided into teams for a contest. Colors were used to identify the teams and our team was 'Black.' As the game progressed, it became quite clear to the entire class that the Black team was dysfunctional. The professor and the members of the other teams were less than kind in their ridicule as our scores went from bad to dismal. Despite our extreme embarrassment, we could not do anything to correct the situation.
Later, upon reflection, I realized I learned more practical lessons in that class exercise than in any other session of that course. In addition, I retained the knowledge gained so I would not suffer such embarrassment ever again.
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