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Vaibhav Lohani
Stealth • 5m
In 2015, Ratan Tata admitted his greatest mistake in his 53-year-long career: Branding the Tata Nano as the "cheapest" instead of the most "affordable" car. For most Indians, owning a car is a luxury. Labelling it a "cheap car" ended up losing them close to ₹1,000 crores. But the lesson here is not that he made a mistake; it is that he admitted it. People do not expect perfection from leaders; they expect authenticity and honesty. When you admit to and allow yourself to make mistakes, it creates an environment of transparency and gives you a space to innovate and be creative. This does not mean you can do anything you want but it means be analytical about your decisions. Be responsible enough to know why things did not work out in your favor and how you could have executed better. When was the last time you made a mistake? What did you learn from it?
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