Welcome to Episode 91 of the #Add A Zero Podcast, the go-to show for ambitious business owners committed to driving significant and sustainable growth for both themselves and their companies. Hosted by Jay Allen, founder of My True North and a renowned ethical business coach, this episode dives deep into one of the most overlooked keys to real progress: embracing failure as a crucial step toward success.

Whether you’re a small business owner, an entrepreneur with bold dreams, or a leader keen to future-proof your company, this episode is packed with practical insights, hard-earned lessons, and leadership strategies to help turn your obstacles into powerful opportunities.

• The Real Value of Failing Forward: Discover why mistakes and setbacks are not roadblocks but essential milestones on your business growth journey.

• Business “Banana Skins”: Learn to spot the most common pitfalls (Jay’s “banana skins”) successful businesses encounter – and how to avoid slipping up.

• Case Study – The 64% Revenue Risk: Hear a real-world client story about dangerous overreliance on a single income source, and how to shift toward a more resilient, diversified revenue model.

• Leadership Blind Spots: Uncover the subtle warning signs leaders often miss amid busy day-to-day operations—and how an outside perspective can reveal hidden opportunities and threats.

• The Power of Non-Negotiable Standards: Understand how maintaining and upholding consistent business standards is vital for trust, growth, and long-term reputation.

• Practical Steps for Sustainable Growth: Actionable advice to help implement change, evaluate your business from multiple perspectives, and lead with greater confidence and integrity.

In an eye-opening client case study, Jay discusses a company where a single client made up a staggering 64% of annual revenue. This overdependence created massive cash flow vulnerability, especially when payment terms slipped out of sync. Jay’s solution? Diversify revenue sources to ensure no invoice or client exceeds the net annual profit, drastically reducing risk and ensuring business continuity—no matter what happens to one major account.

Borrowing lessons from his time in the British Army, Jay explains the concept of “the standard”—a non-negotiable benchmark that defines how business is done. He warns against the slow erosion of standards (like quietly accepting late payments or overlooked conditions), because these small lapses can undermine trust and set dangerous precedents. “The standard is the standard,” he says—keep your word, uphold your terms, and maintain consistency in every facet of your company.

Even the best leaders can miss subtle signs of trouble: loyal team members leaving for competitors, suppliers bending rules, or seemingly small exceptions to your core policies. These “leadership blind spots” often go unaddressed when things are generally good, yet they can hide serious risks or lost opportunities underneath the surface. Jay stresses the value of seeking outside perspectives—from a coach, mentor, or even by role-playing as your own supplier or employee—to catch what you might otherwise overlook.

The episode closes with a call to action: regularly step out of your business and look back with a critical eye. Evaluate your company from the perspective of clients, suppliers, stakeholders, and potential recruits. This 360-degree view can be the catalyst for game-changing breakthroughs, revealing new paths for growth while protecting against avoidable disasters.

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