Managing a franchise requires a mindset of continuous improvement. It is important to not only focus on your strengths but also on areas of improvement. When faced with a mistake or failure, instead of ignoring or wallowing in the setback, embrace the setback as an opportunity to learn and grow.

Here are five effective steps for successfully managing mistakes and failures: 

1. Examine the situation from several angles, specifically to identify some causes and effects.

2. Reflect on how the setback could have been avoided.

3. Develop an action plan to avoid repeating the mistake.

4. Implement your action plan and set dates to reevaluate your progress.

5. Document the results for continuous improvement; making adjustments as needed.

Mistakes and failures will propel you to success; if you manage them as opportunities to learn and grow.