If you make a mistake, don’t spend precious time and energy trying to deny it or point the finger at someone else. Be a leader and own it, then spend your time and energy fixing the problem. As I’ve already noted, start-ups often fail because founders want to be seen as the smartest person in the room, which means not being wrong. Making a mistake is going to happen. None of us is perfect. But the difference between success and failure is how you handle that mistake.
Lebanese-born American investment banker, financier, activist and author
Lebanese-born American investment banker, financier, activist and author
Alternative Names:
Ziad K Abdelnour
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Bankruptcy cleans out the system. What’s wrong with that? South
Korea went through this in the late 1990s. They didn’t have anyone
to bail them out, and they had to go through the pain. Sweden did
it in the early 1990s. Mexico did it. Russia did it. The list goes on
and on. Competent people take over the assets from incompetent
people and rebuild from a solid base. Business has always been survival
of the fittest and Darwinism at its best. After all, this is what capitalism
is all about.