My Favorite Mistake: Business Lessons from Failures and Success
Unlock Leadership Excellence: Tune into “My Favorite Mistake” with Mark Graban Are you a leader aiming to boost effectiveness, insight, and innovation? Join Mark Graban on ”My Favorite Mistake” (and no, it’s not the Sheryl Crow song), where top business minds, C-suite executives, and industry innovators share their pivotal mistakes and the powerful lessons they’ve learned. The Concept Embrace the transformative power of mistakes. Discover how errors can fuel leadership growth and creative problem-solving, turning each misstep into a masterclass in improvement and innovation. The Stories Dive into captivating interviews with international entrepreneurs, tech pioneers, accomplished athletes and entertainers, healthcare leaders, and award-winning authors. Each guest reveals how their significant mistakes shaped their careers and led to groundbreaking insights. The Breadth Explore a wide range of topics, from leadership psychology and organizational culture to process innovation and sustainability. Gain valuable perspectives to navigate the ever-changing business landscape. The Approach Guided by Mark Graban, an author and seasoned consultant, each episode delves into Lean Management (based on the Toyota Production System) and psychological safety, uncovering strategies for individuals and organizations to learn from their mistakes. Why Subscribe? Engage with Thought-Provoking Dialogues: Challenge conventional wisdom and explore new perspectives. Access Tools and Frameworks: Gain actionable insights for a competitive edge. Discover Innovative Opportunities: Learn how to turn mistakes into catalysts for innovation. Develop Emotional Intelligence and Resilience: Enhance your leadership skills and agile thinking. Transform your approach to leadership and success. Subscribe to “My Favorite Mistake” today and embark on a journey of relentless improvement through the power of learning from mistakes.
Episodes
Monday Sep 11, 2023
Monday Sep 11, 2023
Episode page
In this captivating episode, #227 of the 'My Favorite Mistake' podcast, host Mark Graban is joined by the transformational speaker and coach, Bobbi Kahler.
From a flourishing career in personal development spanning over two decades to catalyzing growth in more than 3000 individuals, Bobbi stands as a beacon of self-improvement and human thriving. Through her popular podcast, The Unyielded Show: Thriving No Matter What, Bobbi explores the core elements that breed a winner's mindset and a rewarding life. In this insightful conversation, she reveals the profundity of her learnings gathered from a mishap during the initial phase of her speaking career.
She is the author of Travels of the Heart: Developing Your Inner Leader, and she was a contributing author to the Amazon and NY Times best-selling book, Masters of Success.
Delving deeper into the episode, we unfold a valuable lesson, a testament to the idea that our ways of confronting errors can greatly shape our path to success. On a day of staff training at a credit union, Bobbi was given the opportunity to conduct two 90-minute sessions. The two experiences stood in stark contrast. The first was well received with audience engagement validating Bobbi's skills as a facilitator. However, it was the second one, with less participation and ending early, that became a tipping point in redefining Bobbi's approach to public speaking.
Why did she label this as her mistake instead of blaming the audience or the circumstances? And how did she adjust when facing similar situations in the future?
Questions and Topics:
Didn’t have a backup plan?
Did you run into the same situation again?
What are some of the common roadblocks that keep people from moving forward – how do we get unstuck?
How to get past the fear of mistakes?
PQ – “Positive Intelligence”
What’s the worst that could happen? An exaggerated sense of that?
Why do we need to “help shine a light on the value of mistakes?” And how can we do that?
Why do you believe that there is always a way forward?
Pfeffer / Sutton – “knowing-doing gap” book
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Monday Sep 04, 2023
Dr. Eli Joseph on the Benefits of ”Rejection Resumes” and Mistakes
Monday Sep 04, 2023
Monday Sep 04, 2023
Episode page with transcript, video, and more
My guest for Episode #226 of the My Favorite Mistake podcast is Dr. Eli Joseph. He is an author, educator, and 3-time TEDx speaker who currently serves as a faculty member at Columbia University, New York University, and UCLA.
Using rejection to fuel his professional achievements, Dr. Joseph earned his bachelor’s degree at the age of 20, a master’s degree at the age of 21, and earned a doctorate degree at Felician University while teaching at Columbia University at the age of 24, and became a Quest Diagnostics business partner at the age of 25.
He’s the author of the book, The Perfect Rejection Resume: A Reader’s Guide to Building a Career Through Failure (February 22, 2022).
In this episode, Eli shares his favorite mistake story about being rejected for an internship with JP Morgan Chase in 2015. How did this inspire him to write a book on rejection resumes? Why share rejections publicly? We discuss all of that and more.
Questions and Topics:
So that “favorite mistake” rejection is on your rejection resume??
What inspired you to write the book on rejection resumes?
Why share failures or rejections publicly?
What does it mean to get vaccinated by failure?
Failures, rejections, mistakes — get back on direction or a new direction??
Gianis Antetokounmpo — failure question — link to the video
Book: “addressing the lessons learned from our failures”?
How to make sure we really learn?
Why do we love to blame others?
Time management — future book, mistakes around that?
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Monday Aug 28, 2023
Monday Aug 28, 2023
Episode page with transcript, video, and more
My guest for Episode #225 of the My Favorite Mistake podcast is Suzy Siegle. She is the author of, most recently, the book, Chief Energy Officer. Suzy currently serves as the ninth President, CEO & Chief Champion of Walsh College in Troy, Michigan.
Suzy’s academic and professional background blends her passions for business, law, and higher education, focusing on the value and importance of business and technology education in today’s rapidly changing world.
A licensed attorney and member of the State Bar of Michigan, she holds a bachelor’s degree, a master of business administration, a juris doctor, and a doctorate in higher education leadership and management..
She is also the author of: The THRIVE Journal: A Step-by-step guide to help you create and accomplish your goals (2021), and Locus: Take control and change the direction of your life (2022).
In this episode, Suzy shares her favorite mistake story about an email she sent when in a leadership role with a previous college. Why was the feedback about the email a “gut punch”? What did she learn and how did she adjust her communication style after that? What is “styleflexing” and why is that an important strategy?
We also discuss her book, Chief Energy Officer, and why “leadership energy” is so important. How does a “chief energy officer” help others? Does that have to be the CEO’s role?
Questions and Topics:
How do we make sure we’re learning from mistakes?
Without feedback, we can’t learn?
Ask permission to share more?
There’s a time and a place for giving feedback? Sandwich it?
What is “leadership energy” and why is that so important?
HeartMath.org
Energy in terms of positivity (we can do it) vs. skepticism or cynicism?
How a “chief energy officer” helps others? Does that have to be the CEO’s role?
Staying immune to perks and praise
Tell us a little more about Walsh College… who’s a great fit?
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Please follow, rate, and review via Apple Podcasts, Podchaser, or your favorite app — that helps others find this content, and you'll be sure to get future episodes as they are released weekly. You can also financially support the show through Spotify.
You can now sign up to get new episodes via email, to make sure you don't miss an episode.
This podcast is part of the Lean Communicators network.
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Support this podcast: https://podcasters.spotify.com/pod/show/favorite-mistake/support
Monday Aug 21, 2023
Monday Aug 21, 2023
Episode page with transcript, video, and more
My guest for Episode #224 of the My Favorite Mistake podcast is Mark Myers. Mark is the founder of Peak Profit Solutions and a Tax Savings Architect. He brings over 20 years of successful business operation and high-level consulting experience to the clients and financial professionals he services.
Mark employs the same discipline and tenacity in finding tax savings as he did serving his country as a former Marine Corps Sergeant in Bravo Company 4th Marine Division.
In this episode, Mark shares his favorite mistake story from a previous business, where he was “overconfident” — not getting mentors or help when working in the high-end health club industry. Why did he vow to never repeat this mistake? What does he do differently now?
We also discuss leadership lessons from the Marine Corps. We dive deeply into the world of tax strategies, including what are “red flags” of “unscrupulous” approaches? What mistakes are made when trying to understand or apply United States tax laws to a business?
Mark Myers Was Overconfident & Didn’t Have a Mentor; Vowed Not to Repeat That Mistake
posted on AUGUST 19, 2023FILED UNDER: MY FAVORITE MISTAKETAGGED WITH: CEO, COACH, ENTREPRENEUR, MENTORING, MISTAKES
Check out all episodes on the My Favorite Mistake main page.
My guest for Episode #224 of the My Favorite Mistake podcast is Mark Myers. Mark is the founder of Peak Profit Solutions and a Tax Savings Architect. He brings over 20 years of successful business operation and high-level consulting experience to the clients and financial professionals he services.
Mark employs the same discipline and tenacity in finding tax savings as he did serving his country as a former Marine Corps Sergeant in Bravo Company 4th Marine Division.
In this episode, Mark shares his favorite mistake story from a previous business, where he was “overconfident” — not getting mentors or help when working in the high-end health club industry. Why did he vow to never repeat this mistake? What does he do differently now?
We also discuss leadership lessons from the Marine Corps. We dive deeply into the world of tax strategies, including what are “red flags” of “unscrupulous” approaches? What mistakes are made when trying to understand or apply United States tax laws to a business?
Questions and Topics:
What mentor or help did you look for or bring in?
Thought he was indestructible
Guarding against overconfidence now?
Tell us more about Peak Profit Solutions – why start advising business owners this way? Why this focus and this interest?
You are not a CPA but working with them and financial advisors?
Compliance questions for advisors vs. tax law?
Tax efficiency or minimizing taxes without anything that’s illegal?
What’s a red flag of “unscrupulous”?
Black and white — IRS interpretation of that law?
What questions should we ask an accountant to see if they are a good fit?
Book a free consultation
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Monday Aug 14, 2023
CEO Alisa Applewhite Hired 18 Family Members Into Her Business
Monday Aug 14, 2023
Monday Aug 14, 2023
Episode page with links, transcript, and more
My guest for Episode #223 of the My Favorite Mistake podcast is Alisa Applewhite. She is the CEO of Top of the Line Healthcare Staffing, TOTLHS Heart of Gold Inc., and The Real Alisa Applewhite Consulting. Alisa describes herself as a Nurse, CEO, Wife, Mom, Child of God, Friend, Daughter, and Sister.
In this episode, Alisa shares her favorite mistake story about hiring 18 family members based on emotion, paying them too much. How did she discover performance issues and her mistake? Did she have to let some of them go?
We also discuss a number of issues in healthcare, including proper staffing levels, “travel” nurse staffing, and the mistake of not listening to the patient's family about how they're doing.
Questions and Topics:
Working at the bed when Covid started? What was it like?
The story of starting the staffing company?
How Covid affected her mentally
The business need for a staffing agency like hers?
Staffing level mistakes in healthcare? What’s standard vs. what’s sufficient??
Determining the “true” ratios for staffing?? What’s standard vs. what’s practical?
The dynamics where nurses are increasingly wanting to be a “traveler” nurse? More to it than just higher pay?
“Stigma” of travel nurses can be unfair?
Videos — 5 nursing mistakes
Mistake to NOT listen to patient’s family about how the patient is doing?
A time your listening saved a patient’s life?
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Monday Aug 07, 2023
Tech CEO Indus Khaitan’s $6.5 Billion Mistake and What He Learned
Monday Aug 07, 2023
Monday Aug 07, 2023
Episode page with transcript, video, and more
My guest for Episode #222 of the My Favorite Mistake podcast is Indus Khaitan, the CEO & Founder of Quolum, a company funded by Sequoia and Nexus.
Mark's new book - The Mistakes That Make Us: Cultivating a Culture of Learning and Innovation
Indus has 20 years of business growth, product management, and SaaS experience. He has analyzed SaaS buying for 20+ companies with over $500,000 in SaaS spend and has been the leader of growth for a unicorn.
Indus grew up in a mining town where 2-3 homicides daily were a norm, and eventually escaped what he calls the “India Coal Mafia” that plagued his life and left for America. He made the most out of this move and became a founder, a father, and a pilot. He now aims to help others make the same growth in their business and life.
In this episode, Indus shares his favorite mistake story about selling a previous company “prematurely.” Why does he now think they should have persisted? What was the thought process at the time? What was the risk of not selling? We discuss all of that and more.
Questions and Topics:
What's a unicorn?
What do you mean by the “Indian Coal Mafia”?
If everyone is telling you it’s a mistake… are you wrong or being a visionary?
What positive comes out of a mistake?
Lessons learned for next time? Trusting your gut? Putting your foot down as you said? Risk of overadjustment?
Learning vs. agonizing over it
This isn’t your profession, but I have questions for you as a Pilot – preventing mistakes?
Difference between preventing mistakes in a repeatable process (like taking off and landing) vs. doing innovative things?
Doesn’t mean anybody can fly a plane?
Get there-itis may have killed Kobe Bryant
Tell us about your current company, Quolum…
Mistakes companies make with their portfolio of SaaS applications and spending?
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Monday Jul 31, 2023
Beate Chelette Lost a Year of Her Life in a Lawsuit, Wanted to be Right
Monday Jul 31, 2023
Monday Jul 31, 2023
Episode page with transcript and more
My guest for Episode #221 of the My Favorite Mistake podcast is Beate Chelette. Beate is the Growth Architect and Founder of “The Women’s Code” – she provides visionaries and leaders with proven strategies, blueprints and growth maps that provide clear steps to improve business systems, strengthen leadership skills and teams so that their clients and audiences can maximize profits and scale their impact.
A first-generation immigrant who found herself $135,000 in debt as a single parent, Beate bootstrapped her passion for photography into a global business that licensed content into 79 countries. She exited in a multimillion-dollar deal when she sold the company to Bill Gates.
She is the host of a podcast, the Business Growth Architect Show. Her book is Happy Woman Happy World: The Foolproof Fix That Takes You From Overwhelmed To Awesome.
In this episode, Beate shares her favorite mistake story about losing a year of her life by engaging in a lawsuit where she was “right” but it “wasn't worth the time.” Why did it just lead to mental anguish? What did Beate learn from this and what can we learn from her? We discuss that and more.
Questions and Topics:
You sold your business to Bill Gates, what was it that you sold?
“If you think something’s off… you’re right”
Did you consider dropping the case at different points?
How did you get everything back on track with your career and businesses?
How often are you helping business owners who are in a similar rock bottom situation?
What are the most common blockers to business growth?
Find out what your #1 Business Growth Blocker is
How to clarify strategy and “what do you do?”
Doing a bunch of random things vs. having a strategy?
Please follow, rate, and review via Apple Podcasts, Podchaser, or your favorite app — that helps others find this content, and you'll be sure to get future episodes as they are released weekly. You can also financially support the show through Spotify.
You can now sign up to get new episodes via email, to make sure you don't miss an episode.
This podcast is part of the Lean Communicators network.
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Support this podcast: https://podcasters.spotify.com/pod/show/favorite-mistake/support
Monday Jul 24, 2023
Monday Jul 24, 2023
Episode page with transcript, video, and more
My guest for Episode #220 of the My Favorite Mistake podcast is Rich Sheridan, the co-founder, CEO, and “Chief Storyteller” of Menlo Innovations, a software and IT consulting firm that has earned numerous awards and press coverage for its innovative and positive workplace culture.
He’s the author of two books — first, Joy, Inc.: How We Built a Workplace People Love, and then his latest, published in 2019, Chief Joy Officer: How Great Leaders Elevate Human Energy and Eliminate Fear.
I’ve interviewed Rich twice in my “Lean Blog Interviews” podcast, we’ve crossed paths at conferences, and I’ve been able to visit the Menlo Innovations office in Ann Arbor (2014).
In this episode, Rich shares two favorite mistake stories from his time as a senior leader at a previous company. Why did one mistake change his life? How did the second mistake help him put himself in the CEO's shoes?
Rich also kindly endorsed my new book:
“At Menlo Innovations, one of our favorite phrases is ‘Make Mistakes Faster!’ It’s not that we like making mistakes, we just prefer making small mistakes quickly rather than BIG mistakes slowly. The difference comes from creating a culture where we are safe to share our mistakes. In The Mistakes That Make Us, author Mark Graban teaches all of us how to do this and shares story after real story of the benefits. It would be a BIG mistake to ignore this wisdom!”
Questions and Topics:
Why the title “chief storyteller?”
How do you define “joy” in the workplace?
What’s your role as CEO in helping others find joy or be joyful?
Joy vs. happiness?
Deming connections: pride, fear
Why is eliminating fear so important to you and Menlo?
You say, “one of your favorite phrases at Menlo Innovations is ‘Make Mistakes Faster!” — tell us more about that…
“Fear makes bad news go into hiding…”
“Let’s run the experiment” — tell us more, “try stuff and see if it works”
Being open to small mistakes as a way to avoid big ones? An experiment in working with you?
“Without the stories, Menlo doesn’t make sense”
Paired work
Please follow, rate, and review via Apple Podcasts, Podchaser, or your favorite app — that helps others find this content, and you'll be sure to get future episodes as they are released weekly. You can also financially support the show through Spotify.
You can now sign up to get new episodes via email, to make sure you don't miss an episode.
This podcast is part of the Lean Communicators network.
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Support this podcast: https://podcasters.spotify.com/pod/show/favorite-mistake/support
Monday Jul 17, 2023
Monday Jul 17, 2023
Episode page with video, transcript, and more
My guest for Episode #219 of the My Favorite Mistake podcast is Hank Levine, the President and CEO of iPlace USA, a global Recruitment Process Outsourcing company.
He has 39 years' experience in sales, business development, marketing, and general management. He created the marketing and business strategies for six companies – four of which were acquired for a total of $92 million. Hank has twice “reinvented” his career. Before heading offshore recruiting firms, he held senior management positions in venture capital-backed technology companies. The first phase of his career was with cutting-edge home automation and telecom firms.
Hank holds a bachelor’s in engineering from the University of Pennsylvania and his master’s in management from the Sloan School at MIT.
In this episode, Hank shares two favorite mistake stories from earlier in his career at two different companies — one related to sales and one related to technology development. Why did the first story profoundly change how he views leadership? Why did the second story teach him to avoid the “curse of the expert?”
We also discuss his efforts to cultivate a culture of learning from mistakes at iPlace USA.
I also want to mention that Hank is mentioned and quoted in my book The Mistakes That Make Us: Cultivating a Culture of Learning and Innovation, based on a previous interaction we had.
Questions and Topics:
Putting the right person in the right role — good fit
Examples of putting that lesson into practice?
Giving up on a person vs. finding a different role?
Dealing with politics in an organization when you think they're wrong and you're right
Turning around and mentoring younger employees based on his lessons?
Tell us about iPlace – the business and the environment
Core values of respect, integrity
Try to make it safe to admit mistakes
Methods or approaches to help learn and avoid repeating mistakes? Learning from mistakes? Spreading that learning?
Subscribe, Follow, Support, Rate, and Review!
Please follow, rate, and review via Apple Podcasts, Podchaser, or your favorite app — that helps others find this content, and you'll be sure to get future episodes as they are released weekly.
You can now sign up to get new episodes via email, to make sure you don't miss an episode.
This podcast is part of the Lean Communicators network.
Monday Jul 10, 2023
Monday Jul 10, 2023
Episode page with transcript, videos, and more
My guest for Episode #218 of the My Favorite Mistake podcast is Colonel Kim “KC” Campbell, who served in the Air Force for 24 years as a fighter pilot and senior military leader.
KC has flown 1,800 hours in the A-10 Warthog, including more than 100 combat missions protecting troops on the ground in both Iraq and Afghanistan.
KC is now a keynote speaker and bestselling author. Her new book, Flying in the Face of Fear: A Fighter Pilot's Lessons on Leading with Courage is now available!
KC is a distinguished graduate of the Air Force Academy and has a Master of Arts in International Security Studies and a MBA from the University of London.
In 2003, Colonel Campbell was awarded the Distinguished Flying Cross for Heroism after successfully recovering her battle-damaged airplane after an intense close air support mission in Baghdad. She has served in roles including Squadron Commander, Operations Group Commander and, most recently, KC served as the Director for the Center for Character and Leadership Development at the United States Air Force Academy.
In this episode, KC shares her favorite mistake story about a time her visor fogged up when flying an A-10 Warthog in a training mission. What did she learn from this mistake, including how to let mistakes go — to put them aside and debrief at the right time?
She also discusses almost being shot down over Baghdad — would it have been a mistake to eject? Was it almost a mistake not to?
As she says on her website:
"But how can we improve if we don’t learn from our mistakes?”
Questions and Topics:
Learning to stay calm under stress? — learned over time??
Kids and sports —- Lenny Walls – Ep 51
Learning to stay calm under stress? — learned over time??
Distinguished Flying Cross for Heroism
Almost being shot down over Baghdad?
Debriefing, learning, and moving forward?
Planning for contingencies is a way of preventing mistakes…
Mistake of ejecting too soon vs. too late?
Is this critiqued? For learning?
How many women when you became a fighter pilot?
Lessons for women navigating male-dominated environments?
Debriefing from mistakes as fighter pilots and learning — what’s that culture??? Learning and overcoming them…
Question from your video — “Vulnerability isn’t about weakness… it’s about being open to uncertainty” – help your team be willing to be more innovative… try new things…
Please follow, rate, and review via Apple Podcasts, Podchaser, or your favorite app — that helps others find this content, and you'll be sure to get future episodes as they are released weekly.
You can now sign up to get new episodes via email, to make sure you don't miss an episode.
This podcast is part of the Lean Communicators network.
About Mark Graban
Mark Graban is an author, speaker, and consultant, whose latest book, The Mistakes That Make Us: Cultivating a Culture of Learning and Innovation, is available now.
He is also the author of the award-winning book Lean Hospitals: Improving Quality, Patient Safety, and Employee Engagement and others, including Measures of Success: React Less, Lead Better, Improve More.
He serves as a consultant through his company, Constancy, Inc, and is also a Senior Advisor for the technology company KaiNexus.
Mark hosts podcasts, including “Lean Blog Interviews” and “My Favorite Mistake.”
Education: B.S. in Industrial Engineering from Northwestern University; M.S. in Mechanical Engineering, and M.B.A. from the Massachusetts Institute of Technology’s Leaders for Global Operations Program.