As young adults, my brother and I bought my Dad a model airplane for Christmas one year. Included in our gift were lessons from an experienced instructor to help Dad learn to fly it. As it turns out, model airplanes are more difficult to maneuver than one might assume. Apparently, the instructor told my Dad a general rule of thumb for beginners is to fly at an altitude “three mistakes from failure”.
This is the height where you would have to make three consecutive mistakes to crash your expensive model airplane. Sound advice for business leaders as well.
Never put your business in a position that could bring down the whole enterprise with a single mistake or through a single negative event.