Leadership #Fail of the Week: Theranos’ Elizabeth Holmes Business “Advice”

“The minute you have a back-up plan, you’ve admitted you’re not going to succeed.” that Elizabeth Holmes

Nooooooooooo! I’m putting the immediate stamp of fail on this one! Not to beat someone while they’re down, but, c’mon Elizabeth Holmes! You absolutely need contingency plans in your business to prepare for the unforeseen issues or catastrophic circumstances that, if not planned for, could lead to massive customer loss or even worse.

I get the need to inspire a culture of getting it right the first time, but business isn’t that cut and dry. Whether at a business-saving level or at the smaller department level, you need back-up plans to reduce the level of impact a failure will have on your business. Whether that is a contingency plan for when a client’s weekly file doesn’t get sent via the automatic feed from your system, to when a new major launched product catches on fire (sorry Samsung).

Take this quote from Holmes to be a shallow, semi-motivational aphorism.