My guest for Episode #287 of the My Favorite Mistake podcast is Steven L. Blue, the CEO of Miller Ingenuity, a global manufacturer and supplier of railroad parts and high-technology rail safety systems and services.

Episode page with video, transcript, and more

He’s a recognized expert in business transformation. With 50 years of experience leading companies across diverse industries like manufacturing and publishing, Steve has a proven track record of turning businesses around and driving massive profit increases.

A best-selling author and regular media personality, Steve is also a sought-after keynote speaker who has spoken at prestigious venues like Harvard Business School, The United Nations, and Carnegie Hall. His leadership insights have been featured in major outlets like The Wall Street Journal, Fox Business, Forbes, and CNBC.

In this episode, we dive into the pivotal lessons learned from mistakes, exploring how past successes can plant the seeds for future missteps. Steve shares his story of a bold but ultimately flawed business venture in Cuba, unpacking how ego and faulty assumptions led to failure—and valuable insights.

We discuss the importance of testing assumptions, inviting challenges from peers and boards, and fostering a culture that learns from, rather than fears, mistakes. Steve also highlights the transformation of Miller Ingenuity, offering wisdom on leadership, rebranding, and building a culture of continuous improvement that empowers employees to innovate and adapt.

This conversation is rich with reflections on the intersection of humility, risk-taking, and the resilience required to navigate today’s business landscape.