Below is my 3-minute introduction at the October LPBC meeting, which addresses 2 different types of failure. Here’s the quick summary.
There are 2 ways that people classify failure:
#1 – “I am a failure.”
#2 – “I have failed three times.”
There’s a significant difference between the two. One implies a failure of commission – someone did something wrong. Enron and WorldCom are examples.
The other implies a failure of omission – failure without any intent.
While you can’t predict failure by commission, you can definitely see the signs of failure by omission.
There are 3 specific signs that occur in your business or in your life that can predict failure by omission. You can determine when failure is coming if you’re paying attention.
- If one exists, you’ll probably know it.
- If two exist, you’re critical.
- If three exist, you have set a date for your demise.
Connect with me if you’d like to discuss the signs.