"A business leader can't let his ego get in the way of saying, 'We've made a mistake here and we've got to shift our strategy.'"
- George Bodenheimer
Many business leaders let their egos get in the way of not wanting to admit they're running the wrong strategy. All this does is drive their business into a deeper hole.
The video below, while not even 90 seconds, is a perfect summation of how to and why it is important to accept a mistake and alter your course as a business. This is George Bodenheimer, the former President of ESPN, talking about the mistake of the ESPN Phone launch. Here he recalls a profound meeting with Steve Jobs, who offered some critical advice.