My Favorite Mistake: Business Lessons from Failures and Success

Episode page with video, transcript, and more My guest for Episode #267 of the My Favorite Mistake podcast is Brian Biro, author of the new book Lessons from the Legends: New Applications from the Timeless Wisdom of John Wooden and Pat Summitt. After graduating from Stanford, Brian’s first career was as a swimming coach. He received the prestigious United States Swimming National Coaching Excellence Award, in recognition of his team’s Top 10 National Performance. After gaining his MBA from UCLA, he subsequently rose rapidly to become the VP of Performance Planning for a major transportation company, helping to turn the business around, and quadrupling revenues in record time. He has written 16 books, including bestsellers like Beyond Success! and It’s Time for Joy! In today's episode, Brian shares his personal story of learning to be fully present with his family, a lesson that profoundly impacted his professional life and leadership approach. We explore the leadership principles of legendary coaches John Wooden and Pat Summitt, emphasizing humility, presence, and the avoidance of blame. Brian also reflects on modern leaders who embody these values, the importance of storytelling in leadership, and the influence of characters like Ted Lasso in promoting these timeless principles. Questions and Topics: You mentioned your daughters asking if you loved your phone more than them. How did that moment transform your approach to being present? Can you explain how being fully present affects both personal and professional life? Could you share a story about how presence impacted your professional relationships, like with your director of operations? What can we learn from the leadership styles of John Wooden and Pat Summitt? How did you first get connected with John Wooden? Can humility and confidence coexist in leadership? Are there current coaches or leaders you admire who exemplify the principles of Wooden and Summitt? What are your thoughts on Ted Lasso as a character and how he connects to Wooden and Summitt’s coaching styles? How can leaders teach humility without relying on humbling experiences? Why do you think blame is so destructive in teams, and how can leaders avoid it? How does your book ‘Lessons from the Legends’ apply to non-sports contexts like business or parenting?

My guest for Episode #266 of the My Favorite Mistake podcast is D. Lynn Kelley, the author of Change Questions: A Playbook for Effective and Lasting Organizational Change (with John Shook). Episode page with video, transcript, and more Lynn currently serves as a senior advisor to BBH Capital Partners. Following a career highlighted by leadership roles in engineering, supply chain, and continuous improvement in various industries, Kelley retired from Union Pacific Railroad in 2018. At Union Pacific, she was senior vice president of supply chain and continuous improvement. She was also the executive co-owner of the company’s innovation program.  Before joining Union Pacific, Kelley was vice president of operational excellence, an officer and a member of the executive leadership team at Textron.  Kelley holds a PhD in evaluation and research and taught undergraduate and graduate statistics courses. Before becoming a professor, she held the positions of executive vice president and chief operating officer of Doctors Hospital in Detroit. In this episode, Lynn discusses her journey of learning from mistakes, the importance of change management, and how fostering a culture of psychological safety can drive innovation and continuous improvement. Lynn also reflects on her experiences in healthcare and manufacturing, highlighting the critical role of effective leadership and communication in successful organizational change. Questions and Topics: When you mentioned it was before it was referred to as lean, were people calling it the Toyota Production System or just Japanese management practices? As Textron integrated these companies, did they standardize or adjust the metrics for the French plants to include quality and safety? What were your other key takeaways from your experience in France, especially regarding metrics and relationship building with plant managers? Could you share your experiences as a leader in healthcare and how they compare to your roles in other industries, particularly in terms of change management? What prompted you to write "Change Questions," and what was the inspiration behind it? How would the methodologies in your book have helped you during your time at Textron or Union Pacific? How do you cultivate psychological safety to encourage people to ask questions, push back, or bring new ideas during change initiatives? How did you change your approach to giving feedback to make it more effective, and were you ever coached on this? How do you compare continuous improvement and innovation? Are there different ways to manage change for larger-scale innovations? What are some of your thoughts or experiences on cultivating an environment where people feel safe to suggest changes or improvements? What lessons did you learn about balancing the need to fit into an environment versus realizing it might not be a good fit for you? How do you intentionally manage change when it comes to bigger innovations?

My guest for Episode #265 of the My Favorite Mistake podcast is a conversation with Doug C. Brown, CEO of CEO Sales Strategies, about his journey from coaching people for free to becoming a renowned sales growth expert. Doug shares the story of his favorite mistake—coaching people for free—and how it taught him the importance of charging for his services to ensure clients take action and achieve results. Episode page with transcript, video, and more Doug delves into his impressive career, highlighting key moments like increasing division sales by 684% and boosting close rates by 62% for Tony Robbins' team. He discusses the critical aspects of demonstrating value, understanding the right fit buyer, and why discounting is detrimental to business. Doug also explains the importance of human-to-human connections in sales and how empathy plays a vital role in building lasting relationships. Listeners will gain insights into Doug's systematic approach to doubling sales, the significance of segmentation, and his new software tool designed to track and optimize sales processes. Whether you're a sales professional, coach, or entrepreneur, this episode is packed with actionable advice and inspiring stories that can help you elevate your sales game. Doug's “favorite mistake” of coaching for free led to the realization that people value and act on advice more when they have skin in the game. This lesson not only transformed Doug's approach to coaching but also laid the foundation for his successful career in sales strategy and consulting. Tune in to hear Doug's fascinating journey, his strategies for sales success, and learn how his favorite mistake led to incredible opportunities and growth. Don't miss out on this engaging and insightful conversation! Questions and Topics: What would you say is your favorite mistake? Why was it a mistake to coach for free? How do you decide what to charge for your services? How do you make sure you don't sell yourself short? How did you transition from your other businesses into CEO Sales Strategies? What was the impact of increasing division sales by 684% and boosting close rates by 62% for Tony Robbins' team? How do you demonstrate value to potential clients? How important are human-to-human connections in sales? How did your experience in the US Army influence your career? What was your instrument or focus at the Berklee College of Music? How did you end up in nuclear medicine? Can you tell us about your new program on how to double sales and what that entails? How can people learn more about your new program and software tool?

Welcome to another special bonus episode of "My Favorite Mistake" with your host, Mark Graban! In this episode, we're delighted to welcome back Phebe Trotman, who has just released her second book, "Never Quit on a Bad Day: Inspiring Stories of Resilience." Phebe previously joined us in Episode 233, and today she's here to share more about her new book. We discuss the incredible stories from decorated athletes, the lessons of resilience, and how these insights can be applied to everyone's life, not just athletes. Tune in to hear about: The journey of creating "Never Quit on a Bad Day" and how it fits into the series. How athletes from diverse backgrounds overcame their challenges and what readers can learn from them. The feedback and positive reviews the book has received so far. Phebe's personal experiences and challenges while writing the book and caring for her mother. The future plans for the "Never Quit on a Bad Day" series and what to expect next. Don't miss this inspiring conversation! Check out Phebe's new book and find motivation to overcome your own challenges. 📘 Get the book: https://amzn.to/4c2nYDO  🔗 Previous Episode with Phebe Trotman (Episode 233): https://markgraban.com/mistake233 🔔 Subscribe to My Favorite Mistake Podcast: http://myfavoritemistakepodcast.com/ 📱 Connect with Mark Graban: Website: LeanBlog.org Twitter: @MarkGraban LinkedIn: Mark Graban 📱 Connect with Phebe Trotman: Website: NeverQuitOnABadDay.com Instagram: @PhebeTrotman Twitter: @PhebeTrotman

My guest for Episode #264 of the My Favorite Mistake podcast is Joyce Nethery, the master distiller and CEO of Jeptha Creed Distillery. Episode page with video, transcript, and more With a rich background in chemical engineering and a unique journey through teaching and distillation, Joyce brings a wealth of knowledge and passion to the world of Bourbon. In this episode, Joyce shares the inspiring story of how a family dream, combined with her expertise and a fortunate mistake, led to the creation of Jeptha Creed's unique and beloved spirits. Join us as we explore the challenges and triumphs of running a woman-owned distillery in Kentucky and the innovative spirit that drives their success. Joyce also discusses the critical mistake that led to the development of Jeptha Creed's signature mash bills, the unique challenges of being a woman-owned and operated distillery, and the importance of family and tradition in their business. Tune in to hear how Joyce’s expertise and a serendipitous error turned into a flavorful success story in the world of Bourbon. Questions and Topics: Can you tell us about your daughter's role? How rare is it to be a woman-owned and woman-run distillery in Kentucky or elsewhere? Why did you end up in Wisconsin instead of working with a Kentucky distillery? Can you explain the malting process and its impact on flavor? How has your chemical engineering background and industrial experience helped with distillation and process methods? How long did you have to wait to see the impact of different barrels on your bourbon? As the master distiller, how do you predict what's going to age best? How do you approach blending different barrels to achieve a consistent product? How unusual is it to use malted wheat in bourbon? Can you describe your experimental batches and how you finalized your products? What is a mash bill? Can you tell us more about bloody butcher corn and why you chose it? How do you manage the ground-to-glass process at Jeptha Creed? What does the name Jeptha Creed mean and how does it reflect your values? How can people learn more about Jeptha Creed and visit your distillery?

My guest for Episode #263 of the My Favorite Mistake podcast is John St.Pierre, an entrepreneurial strategist, business growth advisor, and co-host of the “Entrepreneurs United Podcast” — with Rich Hoffman. They recently had me as a guest. Episode page with video, transcript, and more John has over 25 years of experience co-founding and growing successful businesses across various industries including co-founding and growing two companies to over 50 million dollars in revenues each. John is currently the majority owner and chairperson of Rhombus Group, a private holding company formed in 2003 comprising several small businesses. His mission is to help entrepreneurs, intrapreneurs, and their companies achieve their goals and dreams. He’s also the author of The $100M Journey: Your Guide To Growing The Business Of Your Dreams Without Going Off The Cliff!, a book that shares my proven strategies and insights on how to scale your business while avoiding costly pitfalls. In this episode, John shares his profound insights on the pitfalls of trying to grow a business too fast. John recounts his journey of co-founding and expanding a company to over $50 million in revenue, only to face the harsh consequences of rapid, unsustainable growth. He shares his mistakes, such as taking on excessive bank debt, making poor hiring decisions, and losing equity control, which ultimately led to him being fired from the very company he built. Through this candid reflection, John emphasizes the importance of patient ambition, protecting equity, and aligning business strategies with personal life goals, offering invaluable lessons for aspiring entrepreneurs. Questions and Topics: What's your favorite mistake? Did you take time off to reflect, recover, and reset? Did previous opportunities lack alignment in purpose, best-in-world potential, and economic value? Did board members or executives push back on your growth decisions, or was everyone all in? What advice do you have for founders on when to take money, how much to take, and who to choose as investors? How was the news of your firing delivered? Are there specific growth points that are particularly risky, like 10 million or 50 million? How can founders ensure they don't have blinders on and miss potential pitfalls? What's the common theme for the businesses within Rhombus Group? Tell us about the Entrepreneurs United podcast and how you and Rich Hoffman decided to start it. The book's website

John was a guest in Episode 242 in January 2024. That episode: https://markgraban.com/mistake242  Welcome to a pecial bonus episode of "My Favorite Mistake" with your host, Mark Graban! In this episode, we're catching up with John Rossman, who has just released his latest book, "Big Bet Leadership: Your Playbook for Winning in the Hyper-Digital Era." John joined us previously in Episode 242, and today he's back to share insights from his new book. We discuss the critical lessons learned from industry giants like Jeff Bezos, John Legere, Elon Musk, and Satya Nadella. John breaks down the essential habits for successful transformations: creating clarity, maintaining velocity, and accelerating risk and value. Tune in to hear about: The foreboding prediction of the hyper-digital era. Key strategies for transforming organizations. Feedback from readers and insights into the book's reception. The unique "three futures memo" tool for better alignment. The importance of focusing on valuable problems and customer needs in the AI era. The challenges of upfront decision-making processes and governance. John also shares a candid moment about the audiobook production and thoughts on potential additions for future editions. Don't miss out on this insightful conversation! Check out the book, "Big Bet Leadership," and enhance your playbook for thriving in the hyper-digital era. 📘 Get the book: https://amzn.to/3xgoBdz  🔔 Subscribe to My Favorite Mistake Podcast: http://myfavoritemistakepodcast.com/  📱 Connect with Mark Graban: Website: LeanBlog.org Twitter: @MarkGraban LinkedIn: Mark Graban

My guest for Episode #262 of the My Favorite Mistake podcast is Jennifer Heemstra. She is Chair and Professor of Chemistry, the Charles Allen Thomas Professor of Chemistry at Washington University in St. Louis. Episode page with video, transcript, and more Her research makes use of the ability of nucleic acids to self-assemble and recognize other molecules. Alongside her research, Heemstra is a science communicator and writes a regular column for Chemical & Engineering News. She earned her Ph.D. at the University of illinois, Urbana-Champaign. In this episode, Jen discusses the iterative process of failure and success in her lab, emphasizing the importance of creating a psychologically safe space for her team to experiment and learn. Jen also highlights the critical role of leadership in academic settings and how her unexpected transition into a leadership role has become one of the most rewarding aspects of her career — an “accidental leader” (the theme of a book she's writing). Jennifer's “favorite mistake” concerns a significant misunderstanding of her career path. Initially believing that her role as a professor would be purely research-focused, she quickly realized that it encompassed much more, including leadership and mentorship. This revelation, although initially seen as a mistake, turned out to be the best possible outcome. It fueled her passion for leadership and inspired her to focus on developing a positive and empowering lab culture. Her story underscores the importance of embracing unexpected turns in one's career and finding value in professional growth. Questions and Topics: The failures and mistakes we make in research  Advising students about their career paths, and if they want to really focus on research?  Is it rare for a professor to love all aspects of their job? Research, teaching, getting funding, publishing, leading? As chair – have an employer but not a boss – but autonomy? “The Only People Who Never Make Mistakes and Never Experience Failure Are Those Who Never Try” What types of failures are made by students and researchers in your field – and your lab? Amy Edmondson’s three types of failures? A hypothesis that’s disproven vs a technical mistake? Making sure you learn from mistakes? Helping people not beat themselves up? Why and How do you share YOUR failures? And Why is it more important for those with more POWER to share their mistakes?

My guest for Episode #261 of the My Favorite Mistake podcast is Dr. Andrew Wilner, a board-certified internist, neurologist, and epilepsy specialist. In 1982, he discovered that locum tenens was the perfect solution for achieving work/life balance as a physician and writer. Dr. Wilner has practiced locum tenens in a variety of inpatient, outpatient, academic, and community settings.  He is a prolific medical journalist and author of several books, including Bullets and Brains. Currently, Dr. Wilner is an Associate Professor of Neurology at the University of Tennessee Health Science Center, Memphis, TN, where he cares for patients, teaches, writes, and lives with his wife and baby boy. He's also host of the podcast “The Art of Medicine.” His latest book is The Locum Life: A Physician's Guide to Locum Tenens. In this episode, we discuss the concept of "locum tenens", a staffing solution that is steadily taking root in the world of healthcare. Locum tenens, which means "holding a place," provides medical professionals the flexibility of temporary placements in clinics or hospitals due to extended leaves or transitions between hires. Our guest for this episode, Dr. Andrew Wilner, a seasoned neurologist and epilepsy specialist, has thrived using the locum tenens approach. He gives insightful revelations about the career growth and personal satisfaction that come with adopting this method of staffing. In addition, Dr. Wilner gives an account of the human errors that can occur in healthcare settings. Using a personal tale about a mistake made during his training years, he emphasizes the necessity for checks and balances to prevent such occurrences. The discussion encourages healthcare professionals and administrations to approach healthcare provision not as invincible entities, but as humans who are prone to making mistakes. It is through such humility and acknowledgment of weaknesses that better healthcare systems can be fostered where errors are minimized and learning is continuous. Questions and Topics: How could that medication error happen? Sleep deprived Did the nurse challenge the order? More of an expectation to speak up now? A team effort to help you and help the patient? EHR risk of errors - wrong chart? New risks Human factors — 36 or even 24 hour shifts now? Tell us about your Podcast: “The Art of Medicine” The Locum Life: A Physician's Guide to Locum Tenens Your experiences with writing and self publishing?

My guest for Episode #260 of the My Favorite Mistake podcast is Rachel Burch. She’s a lawyer turned transformational coach and stand-up comedian.   EPISODE PAGE with video, transcript, and more As host of the chart-topping podcast Love Before 100, Rachel chronicles her journey to find love while making her way down a dating scavenger hunt/bucket list. Rachel lives with her two boys in Orange County, CA, where she enjoys long walks on the beach and short commutes on PCH. She’s obsessed with personal growth, all things woo and healthy living. In this captivating episode of "My Favorite Mistake," Mark Graban and Rachel Burch take listeners through a riveting journey from rigid law corridors to vibrant stand-up stages and intimate podcasting spaces. They unravel the interesting dynamics of creativity, touching upon the iterative nature of comedy and podcasting as platforms for exploration and growth. They explore how bravery, resilience, and unwavering dedication play instrumental roles in one's creative journey. With an exceptional knack for intertwining insights on personal growth with humor, Rachel uses her experiences as platforms to connect on a human level, showcasing the powerful impact of storytelling. This episode serves to inspire individuals to embrace every facet of their journey, including their passions and dreams, and the importance of learning from mistakes. Questions and Topics: How did the law degree help you with what you’re doing now? Did you want to be a comedian growing up?? From lawyer to business owner to comedian - how to make big life changes? Developing stand up as an iterative process and testing ideas? Beginning as a podcaster?? Tell us about Podcasting — “Love Before 100” “Launching your podcast isn’t the hard part. Making it worth listening to is.” Lessons about Growing a podcast - services for podcasters “Bingeable” What is your best piece of advice for people who want to start on their dream but are scared? What’s the worst advice someone could give?