Podcast episode (Bruce Lee podcast, Season 7 Episode 10) in which host Mark Simpson interviews Dino Tatellia about traits of successful businesses and common entrepreneur mistakes. Dino identifies five "fatal mistakes": obsession (being unable to see flaws in one’s own business), being in a hurry/need for speed, irrational exuberance ("the thrill of the chase"), and "no spare toilet roll" (a metaphor against settling for less-than-excellence); he also frames a continuum from "good enough" to "world class" and suggests adopting world-class practices even when aiming for excellence rather than perfection.
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Bruce Lee podcast. We are in Season 7, Episode 10, and I am so excited for this episode because I have invited Dino Tatellia into the podcast to give us a breakdown of what makes a business success. For this episode, I wanted Dino to come in and I wanted him to share some of the successful traits and I also wanted him to share what he sees as seen some of the biggest mistakes that he sees business owners make.
So there are five what we call fatal mistakes if they're not trapped. First one is obsession, and that is nobody likes to be told that their baby's ugly. The second is just being in a hurry. We call it the need for speed. The third thing is what Alan Greenspan, who is the chairman of the Fed, called in the 90s, irrational exuberance. We call it the thrill of the chase. There are two other things to pick up. I'll actually pick the last one first, because we've just kind of alluded to it, and that is we call it no spare toilet roll. You can't develop world class business like this. A world class ethos, if you like thinking anything other than you're going for excellence. However, there is a continuum. There's a spectrum that people sit on from good enough to world class. And it's in my view, and I know Simon shares this, perfectly acceptable to adopt some of the characteristics and the insights and the understanding and the practices of world class people and apply that to being good enough or to being excellent, which is further down the line. Perfectly. Okay. So I don't want any of the guys thinking, oh, you know, I, I don't know if you're world class. That's not who I am.
