Lesson 5: Be Honest About Problems | Steve Stoute

According to a 2023 poll, 40% of adults put off going to the doctor due to anxiety. The unfortunate paradox is that staying in denial of an issue can often make the condition worse. Similarly in business, it can be tempting to avoid dealing with problems directly. But, as CEO Steve Stoute notes, the more clearly you face the challenge, the easier it is to find a solution for it. In this video lesson, he shows how to take a candid look at failures, so you can diagnose and learn from them. Business success comes down to metrics. For example, inventory vs. products sold. If you fall short, get the truth on the math. Ask: Why did we only sell 3 widgets? Why was the forecast 30? How will we course correct? Simple truth-telling forces your team to accept what went wrong and work together to rectify it. © Freethink Media Inc., All Rights Reserved. ---------------------------------------------------------------------------------- Go Deeper with Big Think: ►Become a Big Think Youtube Member Get exclusive classes and early, ad-free access to new releases without leaving Youtube. https://www.youtube.com/@bigthink/membership/ ►Become a Big Think Web Member Get the entire Big Think Class library, premium print issues, live events, and more. https://bigthink.com/membership/ ►Subscribe to Big Think on Substack Get all of your favorite Big Think content delivered to your inbox. https://bigthinkmedia.substack.com/subscribe/ ---------------------------------------------------------------------------------- About Steve Stoute: Steve Stoute is an advertising and music industry entrepreneur. Stoute serves as Founder and Chief Executive Officer of UnitedMasters and Translation. With funding from Alphabet, Andreessen Horowitz and 21st Century Fox, the companies are converging music, technology and storytelling