4 Reasons CEOs Should Plan For Failure And Encourage Risk-Taking

Every successful company leader will tell you that failure is a part of business, but far fewer will admit they plan for failure. Growing a business requires taking risks, and failure is a frequent outcome on the journey to achieving success.

In their best-selling book Switch, co-authors and brothers Chip and Dan Heath describe how world-renowned design firm IDEO (perhaps best known for its work with Apple) plans for failure during its design process.

Expect, Inspect, Correct

It’s no coincidence that we have so many ways to say we made a mistake: botched, flubbed, mishandled, misjudged, mucked, messed, screwed or goofed up – just to name a few.

As a leader, you’ll hear each of these (some more than others, and likely some more explicit than the ones I’ve named here) pretty often.

Watch Your Doors

When was the last time you looked at the doors to your business? It isn’t just about who comes in; it’s also about how.

Let me give an example. A new restaurant opened near my office. It’s been very successful, and I eat there regularly. The only problem is the horrendous door you have to go through to get in.

The Importance Of Pride

The Key To Better Serving Your Customers
The famous business guru Peter Drucker wrote more than 10,000 pages on the subject of management. Across 39 books translated into 36 languages, you can bet he learned a bit along the way. It’s the reason he’s widely considered the "founder of modern management.

4 Ways To Keep Your Team Inspired

Entrepreneurs and business leaders often find that motivating team members is one of the most challenging parts of the job. Leaders seldom lack self-motivation — it’s so second nature to them that they get frustrated when a team member doesn’t appear to have the same level of drive and ambition.