• My Favorite Mistake: Business Lessons from Failures and Success

  • By: Mark Graban
  • Podcast

My Favorite Mistake: Business Lessons from Failures and Success

By: Mark Graban
  • Summary

  • Unlock Leadership Excellence: Tune into “My Favorite Mistake” with Mark Graban Are you a leader aiming to boost effectiveness, insight, and innovation? Join Mark Graban on ”My Favorite Mistake” (and no, it’s not the Sheryl Crow song), where top business minds, C-suite executives, and industry innovators share their pivotal mistakes and the powerful lessons they’ve learned. The Concept Embrace the transformative power of mistakes. Discover how errors can fuel leadership growth and creative problem-solving, turning each misstep into a masterclass in improvement and innovation. The Stories Dive into captivating interviews with international entrepreneurs, tech pioneers, accomplished athletes and entertainers, healthcare leaders, and award-winning authors. Each guest reveals how their significant mistakes shaped their careers and led to groundbreaking insights. The Breadth Explore a wide range of topics, from leadership psychology and organizational culture to process innovation and sustainability. Gain valuable perspectives to navigate the ever-changing business landscape. The Approach Guided by Mark Graban, an author and seasoned consultant, each episode delves into Lean Management (based on the Toyota Production System) and psychological safety, uncovering strategies for individuals and organizations to learn from their mistakes. Why Subscribe? Engage with Thought-Provoking Dialogues: Challenge conventional wisdom and explore new perspectives. Access Tools and Frameworks: Gain actionable insights for a competitive edge. Discover Innovative Opportunities: Learn how to turn mistakes into catalysts for innovation. Develop Emotional Intelligence and Resilience: Enhance your leadership skills and agile thinking. Transform your approach to leadership and success. Subscribe to “My Favorite Mistake” today and embark on a journey of relentless improvement through the power of learning from mistakes.
    Mark Graban
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Episodes
  • Nuggets of Advice from NBA Rookie Spencer Jones on Navigating NIL, Personal Branding, and Building a Legacy
    Jan 27 2025

    My guest for Episode #293 of the My Favorite Mistake podcast is Spencer Jones, a rookie forward with the Denver Nuggets and a Stanford University graduate, where he earned a degree in Management Science and Engineering.

    Episode page with links and more

    He averaged 11 points per game over five standout years at Stanford, leading the Pac-12 in three-point shooting as a freshman and graduating as Stanford's all-time leader in three-pointers. Before college, Spencer also secured three high school state championships in Kansas.

    While his professional basketball career with the Denver Nuggets keeps him on the court, Spencer's ambitions stretch far beyond the game. Passionate about the intersections of sports, health, and technology, he is actively building his brand in the health tech space, leveraging his platform as an athlete to explore innovation and make an impact off the court.

    In this episode, Spencer shares his journey from high school state championships to becoming Stanford's all-time leader in three-pointers and his transition to the pros. Spencer opens up about his favorite mistake: hesitating to embrace the Name, Image, and Likeness (NIL) opportunities during his college years due to concerns about balancing individual branding with team dynamics. Reflecting on how this hesitation caused him to miss out on valuable opportunities early in his college career, Spencer explains how he learned to navigate those challenges and is now focused on capitalizing on his NBA platform while staying grounded in his basketball priorities.

    Throughout the episode, we discuss Spencer's experiences balancing academics, athletics, and building a brand, including how his Management Science and Engineering degree from Stanford shaped his interest in the intersections of health, technology, and business. Spencer also offers insights into the evolving dynamics of NIL, the challenges of team equity, and the impact of the transfer portal. We explore his presence on LinkedIn as a platform for connecting with alumni and businesses, his passion for investments and startups, and how watching NBA superstar Steph Curry train influenced his own work ethic. Spencer's reflections provide valuable lessons on resilience, legacy building, and preparing for life after sports.

    Questions and Topics:

    • What’s your favorite mistake?
    • Can you explain NIL (Name, Image, and Likeness) and the opportunities it offers athletes?
    • How did NIL impact team dynamics, and what was it like balancing individual and team priorities?
    • Did you consider transferring to another school, especially with the new transfer rules?
    • What lessons did you learn about balancing academics and athletics at Stanford?
    • Why did you choose Management Science and Engineering as your major?
    • What impact did being in Silicon Valley have on your development, connections, and career opportunities?
    • How much interest is there among players in investing, startups, and business ventures beyond basketball?
    • What kind of resources does the NBA or players' associations provide to help players prepare for their futures?
    • How does the G League (formerly D League) fit into player development for someone in your position?
    • What factors went into your decision to sign with the Denver Nuggets, especially as a two-way player?
    • How do you approach balancing short-term versus long-term decisions in your basketball and business career?
    • What led you to build a presence on LinkedIn, and how has that platform benefited you?
    • What advice do you have for other athletes about building their brand and preparing for life after sports?
    • How do you manage the pressure of potential mistakes in high-visibility situations like an NBA game?

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    46 mins
  • Why Culture Is Your Secret Weapon for Success – A Conversation with Jessica Kriegel
    Jan 20 2025

    My guest for Episode #292 of the My Favorite Mistake podcast is Dr. Jessica Kriegel, Chief Strategy Officer of Workforce and Labor at Culture Partners and an internationally recognized speaker.

    Episode page with video, transcript, and more

    Known for her transformative 'Culture Equation,' Jessica has been featured on CNBC, MSNBC, CNN, and more. At Culture Partners, she leads pioneering research and strategy with Stanford University, working to reshape the DNA of Fortune 10 and 500 companies for long-term success.

    Jessica holds a doctorate in Human Resources Development and Educational Leadership from Drexel University and is the author of Unfairly Labeled, a book that challenges generational stereotypes in the workplace. She also hosts the podcast "Culture Leaders," where she dives into the essence of true transformation.

    In this episode, Jessica shares insights on leadership, culture transformation, and her unique journey through pivotal career experiences. Jessica discussed her favorite mistake—a whirlwind promotion at Oracle to Head of Strategy for the Head of Cloud, a role she describes as "seven promotions" above her current position at the time.

    Although the experience quickly led to burnout due to overwhelming demands and a relentless work pace, it also became one of her most transformative learning experiences. Jessica credits those six intense weeks as the foundation for her "Culture Equation" framework, which she has since applied to drive organizational change and foster alignment between purpose, strategy, and culture.

    The conversation also explored the critical role of leadership in shaping workplace culture and addressing challenges like burnout, disengagement, and generational stereotypes. Jessica emphasized that culture is fundamentally about how people think and act to achieve results, and leaders must align beliefs and behaviors to operationalize strategy. She shared her perspectives on overcoming employee disengagement, fostering innovation through psychological safety, and breaking free from generational labeling in the workplace.

    Jessica also discussed her TED Talk, "How to Help People Give a Shit," highlighting how employees' perceived apathy often stems from overwhelm and a lack of agency rather than genuine disinterest.

    Questions and Topics:

    • What’s your favorite mistake?
    • Would you say six weeks is an unusually fast burnout cycle?
    • Was the 3 a.m. call part of a broader pattern of disrespect or just a one-off incident?
    • Are these patterns common across organizations, or are they specific to individual leaders?
    • How do you define culture?
    • Did you face challenges getting your TED Talk title approved?
    • What advice do you have for leaders to address this challenge of employee disengagement?
    • How do you see leaders' perceptions of mistakes influencing workplace culture?
    • What led you to write your book Unfairly Labeled?
    • How do you think generational stereotypes impact workplace dynamics?
    • Do you believe evolving workplace expectations are driven more by technology than generational differences?

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    39 mins
  • World Series Coach Trent Clark on Mistakes, Leadership, and Building Winning Teams
    Jan 13 2025

    My guest for Episode #291 of the My Favorite Mistake podcast is Trent Clark, CEO of Leadershipity and Founder of Courage Coach LLC. Having spent his adult livelihood among the top 1% producers in sports and business, Trent is dedicated to empowering people to reach their goals, peak performance, and attain their dreams.

    Episode page with transcript, video, and more.

    An entrepreneur of 12 companies and longtime Entrepreneur Organization Member, he is best known for being a two-sport Division I Collegiate Athlete and Coaching 12 years in Professional Baseball with three organizations - including three (3) trips to the World Series - working with the Detroit Tigers, two-time American League Champion Cleveland Indians and the 2002 World Champion Los Angeles Angels of Anaheim.

    He’s the author of a new book, Leading Winning Teams: How Teamwork, Motivation, and Strategy Achieve Big League Success, and he’s also the host of his podcast, "Winners Find a Way."

    Trent has worked on staff with famed personalities, coaches, and executives, including Nick Saban, Joe Maddon, Tom Izzo, Mike Scioscia, and my favorite from that list… Sparky Anderson.

    This episode covers the importance of learning from mistakes, resilience, and the parallels between sports and business leadership. Trent shares impactful lessons from his career, including a pivotal mistake involving contract negotiations that shaped his approach to accountability and preparation.

    The conversation explores themes such as embracing failure as a stepping stone to growth, the necessity of adaptability in high-pressure environments, and the role of coaching in fostering continuous improvement. Insights on balancing personal and professional commitments, the evolution of strength training in baseball, and cultivating high-performing teams round out a compelling discussion on achieving sustained success through intentional learning and reflection.

    Questions and Topics:

    • What’s your favorite mistake?
    • Are you willing to share what the main promises were that the Angels made verbally but never included in the written contract?
    • Do coaches typically have an agent or a lawyer, or is that something you just handle on your own?
    • How has the thinking evolved about bulking up in baseball? Is it still considered risky, or is it more about how players approach strength training?
    • As a strength and conditioning coach, were you traveling constantly with both the Major League and minor league teams? What was that like for your family life?
    • What can we learn from athletes about bouncing back from mistakes that might apply to entrepreneurship or our own work?
    • You told me you get excited about mistakes—why is that, and how do people respond when you show that enthusiasm?

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    56 mins

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