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The Personal MBA: The Book

Master the Art of Business - by Josh Kaufman, founder of PersonalMBA.com

Fail-Safe

This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…

What is a “Fail-Safe”?

“‘Always’ and ‘never’ are two words that you should always remember never to use.” — Wendell Johnson, psychologist and pioneer of speech pathology

Key Points:

  • A Fail-Safe is a backup system designed to prevent or allow recovery from a primary system failure.
  • Fail-safes are not efficient if you think you’ll never need them. The thing is, if you ever need one, it’ll be too late to develop it. Fail-safes must be developed before they are needed.
  • Separate your Fail-safe from your primary system as much as possible to prevent one tragedy ruining everything.
  • Never make the backup system part of the system you’re trying to protect. Interdependence is not good when it comes to Fail-safes.
  • Try never to have a single critical point of failure. If the system relies on critical inputs to function, you should plan for when those inputs aren’t available.

Questions for Consideration:

  • Have you developed fail-safes you can rely on if critical systems fail?
  • Are your backups reliable, and accessible if you need them?

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True leaders aren’t made by business schools – they make themselves, seeking out the knowledge, skills, and experiences they need to succeed. Read this book and you will learn in one week the principles it takes most business professionals a lifetime to master. Buy The Personal MBA by Josh Kaufman now.