Monday

Do You Have the Guts to Fail?

Most leaders are groomed for success and strive for it. Not necessarily the best move, according to Oscar-winning actor Denzel Washington.

Washington spoke to the University of Pennsylvania's graduates today, and his advice on failure is one that CEOs and executives of any level should take to heart.

In his commencement address, Washington told graduates of his failures, but most importantly, he told them what he learned from those failures. He asked the new grads, "Do you have the guts to fail?'  Then hit them between the eyes with, "If you don't fail, you're not even trying."

Great advice for newly minted grads, but even better advice for business leaders.

Push yourself to take risks, try innovative technologies, explore new strategies. If you fail--and you will--take what you've learned and make yourself better and stronger.

Too big to fail? Only if your ego gets in the way.