Mistakes are a part of life and as the saying goes, â€śyou can always learn from your mistakes.â€ť However, sometimes thatâ€™s not the case, especially if youâ€™re running a multi-million-dollar business, one wrong move or slip-up can end up costing your business millions (or even billions) in missed revenue and even worse it can give your competitors an edge in the market.
Today, we will discuss the top ten business blunders that have gone down in history. Read on and try not to cringe.
Decca Record rejecting The Beatles
Imagine saying â€śnoâ€ť to The Beatles, well â€¦ thatâ€™s exactly what Decca Records did in 1962.
Although it was one of their first auditions and it did bring out their nerves, The Beatles felt confident that they would land the record deal. However, Deccaâ€™s A&R Representative, Mike Smith made the terrible mistake of going in a different direction, instead signing a local band and declining The Beatles â€¦ who would later go on to become one of the â€śgreatest bands of all time.â€ť
The reason for Smithâ€™s decision was he felt â€śguitar groups were on their way out,â€ť but little did he know The Beatles would become a staple in the music scene, and would eventually start a cultural revolution. I am sure Decca Recordâ€™s had a hard time â€śletting this one be.â€ť