Stumbling Forward and Finding Your Way

As a small business owner, it's never a bad idea to learn from other successful entrepreneurs and business leaders. For example, consider this quote from Richard P. Carlton, former CEO of 3M: "Our company has, indeed, stumbled onto some of its new products. But never forget that you can only stumble if you're moving." Keep in mind that 3M is one of the most successful-and certainly one of the most innovative-companies of the world. But they started out as a failing mining company that kept moving forward until they stumbled onto some unique products-such as sand paper, scotch tape and Post-It notes-that built 3M into a multibillion dollar company. You would be surprised to know how many other "great" companies established their position almost by accident. As James Collins says in the book "Built to Last", "In examining the history of visionary companies, we were struck by how often they made some of their best moves not by detailed strategic planning, but rather by experimentation, trial and error, opportunism, and-quite literally-accident. What looks in hindsight like a brilliant strategy was often the result of opportunistic experimentation and "purposeful accidents"....

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