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Learn from others mistakes and imply in making changes to your own course
As rightly said by chanakya that you need to learn from mistakes of others as being a human being ensures you will not have enough long life to do mistake and learn from the mistake and learn. As the age factor would not be with you for long to undergo the process
Lets look at the statement in realistic way with easy example you are driving and there is vehicle in front of you and suddenly you see that the vehicle in your front crossed a hump and did create noise, the next reaction of yours will be to slow down first and also to take time by slowing down on how to counter what the front vehicle did not counter and underwent.
Lets look at this example from a startup point of view, lets take that a company which is providing platform for patients to interact with doctors. The loop hole here could be the model where in the doctor who is listed in the platform for free gets patient who books appointment from using the platform and meets the doctor for first time.
He like the doctor and when he is going back he will not use again the platform though it is free for him, but calls doctor directly as the first time doctor would have told him he is charging extra as he has to pay the platform.
Knowing this loop hole will help you in two ways either you accept a true lies and be happy knowing that repeat customers will not happen. So here either you keep expanding market to bring in new customers every time.
The other learning from this can be by where in the business model of customer paying the service for giving him doctor can also be one such model for example like airports in USA charge you for luggage screening.
The after effect of this learning will also have effect how many patients will use again and again and being loyal is the question. This will also ensure that you have revenue but the revenue will not increase drastically.
But in the process you are just trying to avoid what happened to the vehicle in your front.