“Fool me once, shame on you. Fool me twice, shame on me.”

“What is the definition of insanity? Doing the same thing over and over and expecting the outcome to be different.”

“You don’t need to work harder—just work smarter.”

Whatever your favorite pet cliché, the takeaway revolves around learning from our mistakes. Last week during an interview on CNBC, legendary golfer and mega-successful businessman Jack Nicholas faced the question, “What was your biggest money mistake?” He modestly joked, “We don’t have enough time to talk about all of them,” adding, “I’ve learned from every one of them.”

What is a mistake, anyway? Is it when a new approach or initiative doesn’t achieve its objectives? Or is it failing to try a different approach? Think of the scientific and medical community and the history of important discoveries and cures—many are the fruits of trial and error. Jonas Salk, the American physician and medical researcher who developed the first safe and effective polio vaccine, refused to patent his discovery in order to enable multiple drug companies to produce the vaccine as quickly as possible. When it was available, he gave his wife and three children vaccines to gain the trust of the public.

A lesser-known example is medical efforts to solve the scourge of yellow fever. Various experiments at the beginning of the 20^th century attempted to determine how the disease spread, ultimately landing on the insect theory (contact with mosquitoes). But the theory required volunteers for validation. Under the direction of Dr. Walter Reed, one of the first volunteers was Private John R. Kissinger, who joined several other volunteers who agreed to enter a room filled with mosquitoes known to have been in contact with yellow fever victims. After drawing blood from infected soldiers, the mosquitoes bit the healthy subjects—and the odds of survival were less than one out of 20.

The experiment killed eight men. Kissinger survived and was eventually discharged but later became almost completely helpless. For several years, the family faced destitute living circumstances, until a special act of Congress granted Kissinger a pension of $100 a month.

The experiment’s outcome was tragic, but the discoveries it fostered also ended up saving countless lives. Can we consider the experiment a mistake? I don’t think so.

When it comes to independent agencies entering new markets, embracing new technologies or hiring people with atypical backgrounds, not every attempt will be successful. The key is performing an honest retrospective review to determine why you failed. Was it lack of resources? Underestimating the competition? Not providing adequate training?

What does it truly mean to learn from a mistake? Avoiding risks or foregoing an educated chance to do things differently is the real mistake. Today, people are increasingly afraid to take such chances because they fear criticism. We live in a culture that magnifies mistakes, where people who don’t know the entire story are quick to criticize and where perception is often reality. But society cannot move forward without people who are willing to risk their careers, reputation and legacy to achieve a greater good.

Independent agents face myriad forms of competition as direct writers continue to spend exponential sums to convince the public that insurance is a commodity. Don’t be afraid to experiment with the tools and resources that could help your agency thrive.

The biggest mistake you can make? Not trying.

Dave Evans is a certified financial planner and an IA contributor.