From the troubles at MySpace to Kmart's bankruptcy, there's a lot to learn from these business mistakes.
People learn best from failure. It drives lessons home like nothing else.
The paradox is that in business, failure can be extremely costly. A new book from Laurence Weinzimmer and Jim McConoughey, "The Wisdom of Failure," shows that it's possible to learn the lessons of the greatest business failures without having to go through them yourself.
The authors looked through some of the great failures of the past, surveyed hundreds of executives, and talked to industry leaders. We've broken out some of the key tips.
Thanks to the publisher for allowing us to feature the book.
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How long does it take you to completely unpack after moving in?
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- 3 days – I'm an unpacking MACHINE!
- I need a full month just to figure out where to put everything!
- 3 months – I use the boxes as end tables!
- NEVER! I still haven't unpacked everything from the last move.
Aug. 29 (Bloomberg) –- Retired U.S. Army General Wesley Clark discusses President Obama’s strategy in dealing with the Islamic State in Iraq and the si... More Aug. 29 (Bloomberg) –- Retired U.S. Army General Wesley Clark discusses President Obama’s strategy in dealing with the Islamic State in Iraq and the situation in Ukraine. He speaks on "Street Smart." (Source: Bloomberg)
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