I’ve been listening to Masters of Scale podcasts during my drive time. Each episode deconstructs how successful businesses have been able to achieve success and scale. Almost every episode has a tale about the number of times the interviewee has been told no in trying to get their idea off the ground, or how the business has built in innovation and experimentation that results in as many failures as successes. People learn from trying and failing. The more often they try things, the better they get at succeeding. They are able to tell more quickly what resonates with their customers. They build in mechanisms to test ideas without negatively impacting customers. More importantly, they are able to move more quickly than others because they know what customers want and how to accomplish it. How are you building into your business a mechanism to learn from failing?

Years ago, I moved to Houston, necessitating house hunting. My realtor found a house three blocks from Rice University on an oak tree lined street. The houses were built in the 1930’s and had a tremendous amount of charm. My house was perfect on the outside, but was original on the inside. Original kitchen, original plumbing, original wiring. All from 1932. The paint was at least a few decades old, the ducting for the air conditioning was visible in the closets and the oak floors were in need of refinishing. To me, it was fantastic! But to everyone who walked inside, I was out of my mind. They couldn’t see what I saw. The potential.

Potential is everywhere. It is within people, in companies, in ideas, in communities. It just takes opening your eyes to see what can be. How are you looking for potential?

The best surround themselves with the best. Top performing companies hire the best talent, work with the best partners and surround themselves with thought leaders. They continue to get better because they are constantly innovating and growing. They are constantly looking for top talent and hire them when they find them. How are you surrounding yourself with the best?

Recently, an individual was touting the mark of high performance as hours worked. In other words, it is a matter of activity rather than results that garners the mark of high performance. The reality is top talent produces at a rate of 3 to 17 times the average in the same amount of time depending upon the industry. High performers are clear about what they are trying to accomplish. People work together to accomplish a common goal. High performing leaders set the tone, attract top talent, focus on results and have financial results as evidence. How are you focusing on results rather than activity in your organization?

Businesses exist in an ecosystem that comprise the business, the community, the people who work in the business and the stakeholders of the business. The strength of the business has a profound impact on those that it touches. As the business becomes more successful, it employs more people and generates a host of benefits in the community and for stakeholders. How is your business contributing to the ecosystem?

Making a mistake isn’t the problem. People will make mistakes as they grow in the company and their career. The trick is getting them to a place where they can make mistakes without major consequences. And if you are hiring senior people, you need to learn what mistakes they’ve already made and what they learned. Otherwise, you run the risk of them making a needless mistake with you.