What is the most common business failure?
Here are the business failures I encounter most often:
- Hiring too fast
- Unwillingness to pivot out of a bad plan
- Managers that think their role is just to attend meetings and delegate (Jeff Bezos fires these people immediately, by the way.)
The Most Common Business Failure
The *one* I see most often… The one I think creates the most toxic work environment: TAKING FEEDBACK PERSONALLY.
The number one way to create a resilient organization is to learn from failure as a result of respectful, constructive conflict. You HAVE to get real feedback. You must create an environment and a culture where it’s safe for people to provide feedback and with people that have the robustness and maturity not to take it and/or make it personal. (If you’re curious, Zuckerberg and Sandberg are a great case study).
The willingness to acknowledge failure and embrace disagreement is a critical advantage in a fast moving industry.
I’ll leave you with this… People who provide you with real, genuine feedback — especially when you’re messing up — are rare. Seek them out and find room for them in your inner circle. These people are typically your friends. Your enemies won’t tell you the truth, they’re trying to take your spot. And your competitors won’t tell you the truth, they’re trying to take your business.
Good honest feedback is invaluable.
This blog started primarily as a marketing blog, but now features much more about work/life, social psychology, health and happiness. We also explore top performers (authors, entrepreneurs, business leaders and more) and dissect what we can take away to become top performers in our own work and personal lives.
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