11 Lessons Any Leader Should Learn From a Failed Business

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No business is ever a total failure if you’ve learned something from it.

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Never try to be everything to everyone. Straying from your core product dilutes resources — both in terms of bandwidth and money. Every time my company has created auxiliary product lines, we have ultimately backed away from them because they take attention from our primary business.

“Culture reflects leadership” — employees follow the leader. In a past role, poor leader attendance led to widespread absences during critical customer care windows. By showing up, listening and engaging, I drove a cultural shift where people felt valued and wanted to contribute in person. Now, even in a hybrid world, true engagement with teams — virtually or in person — makes all the difference.

The first time I finished a half-marathon, I felt awful. I had undeniably succeeded at my goal, but I sure didn’t feel like it. Those moments of emotional disconnect are tricky to navigate, and I have seen leaders ruin their successes because their feelings had not yet caught up. Creating space to realign our feelings and our objective realities is critical for charting an effective path forward. –Failing to adapt to market changes can doom even the strongest brands.

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