3 Types of Failure to Avoid by HBR

Innovation experts have long argued that companies should be more tolerant of failure. But not all failure is created equally. Here are three types of failures that rarely contribute to learning and should be avoided whenever possible:

• Knowingly doing the wrong thing. When a project falls apart because someone hid information or misled others, any learning is moot. Failure is only acceptable when the project was done with good intentions.
• Failing to gather the right data. Often failure can be avoided by doing some simple research: asking target customers for input or testing an idea before launching it.
• Prioritizing research over experience. Some things are unknowable without real-life experiments. Don't waste resources on researching a theory when you can create a prototype or conduct an experiment that will give you a more realistic answer.

Today's Management Tip was adapted from "When Failure Is Intolerable" by Scott Anthony.

7 Rules to Create a Great Business By Robin Sharma

1. Hire only "A Players" because you can't coach height.

2. Narrow your focus and devote your resources to being best in world at only one thing.

3. Train and develop your team relentlessly because the growth of your sales is a reflection of the growth of your people.

4. Take care of people and the money will take care of itself.

5. Put your most valuable resources on your most valuable opportunities.

6. Get your product right so that people are awed by it

7. Commit to operational excellence.

Develop the 4 Qualities of an Inspirational Leader By HBR

Leaders need vision, energy, authority, and a natural strategic ability. But those things don't necessarily help you inspire your employees to be their best and commit to you as a leader. Here are the four qualities you need to capture the hearts, minds, and spirits of your people:

1. Humanness. Nobody wants to work with a perfect leader. Build collaboration and solidarity by revealing your weaknesses.
2. Intuition. To be most effective, you need to know what's going on without others spelling it out for you. Collect unspoken data from body language and looks given across rooms to help you intuit the underlying messages.
3. Tough empathy. Care deeply about your employees, but accept nothing less than their very best.
4. Uniqueness. Demonstrate that you are a singular leader by showing your unique qualities to those around you.

       

Today's Management Tip was adapted from HBR's 10
Must Reads on Leadership, one of six HBR article collections in the popular 10 Must Reads series.