There is often more to learn from the mistakes of large companies than from what they do well. Those mistakes can mirror those that we all make in our own businesses. After all, the CEO of a large company and a small independent business are both human!

Ed Whitacre had an illustrious career in the telecom industry before taking over the helm of GM. He was brought to GM as part of the bailout of the company. He was joining a company at the low point of its history. When he arrived at GM, he found himself in a position where he was resented and looked at as an outsider of the auto industry. That is saying a lot in a community like Detroit where so many of the businesses are connected to and are there to support the auto industry.

Years earlier, Ford was faced with a need to replace its own CEO. Their company was historically led by family members and auto industry experts. The company leaders recognized their decline and a need to make a different move. Their choice was to open themselves to an outsider who could bring a different perspective and point of view. Alan Mulally left Boeing to manage Ford and when he arrived, he met the same skepticism and resentment that Whitacre is facing today. Today Mulally is looked at as the savior of Ford and a shining hope for the future of the U.S. auto industry. Success seems to ease doubt.

The point of all this is that there is a lot that any industry or business can learn from outsiders. We all tend to think that our knowledge and experience is unique. We all tend to view our own business as so complex and special that an outsider could not possibly contribute anything valuable to our own success. The truth is that there is always something we have overlooked or not optimized.

In this case Ford was open to outside input and leadership from another industry with another point of view. It took outside influence and force to get GM to realize that there can be a lot to gain from a fresh perspective. A know-it-all attitude never leaves room for improvement. There is always some aspect of our business that we can improve by looking at it from another perspective.