It is important to admit your mistakes and take necessary action as soon as you realise that you have made a mistake. Otherwise you will be ignored when the continent is named.

What continent, you ask?
Remember Christopher Columbus? The poor dude who went all the way across the world and discovered America, thinking it was India or at least some obscure corner of Asia. We can forgive him for his blunder.

But then he did the unforgivable – he stubbornly refused to believe that the land he touched was not India, not by a long chalk. He kept insisting that it was.

So what happened? Finally, when it was time to name the continent, they called it America after Amerigo Vespucci, the bloke who travelled to the New Land after Columbus, and not Columbus himself. Shri Vespucci figured out that the land was new, previously unknown to Eurasians (source: Wikipedia). The land Columbus sought for and dreamed of reaching? Offended at the grave error he had made, we the people of India, demoted him to a location inside the pages of our English textbook and henceforth refused to have anything to do with him (except have a few chuckles at his expense).

That’s why I say, be quick to admit mistakes. You do not want to lose the chance of having a pet continent of your own.