The Power of “I Was Wrong” in Multifamily Leadership

Mistakes aren’t your enemy— your ego is.

If you can say, “I was wrong,” you will win trust, sharpen your decision-making, and build a culture where humans and innovation thrive.

Yet you dig in, defend yourself from indefensible positions, and create environments where problems fester.

Trust me when I say you don’t have to believe my last sentence for it to be true. 

It’s true. 

Admitting a mistake isn’t a weakness.

It’s a flex, as my kids would say. 

It signals confidence, self-awareness, and a focus on results over your reputation.

When you own missteps, team members feel safer challenging ideas, disclosing risks, and presenting bold solutions.

That’s how you keep your company ahead of the competition. 

Let’s take a trip down memory lane- quickly. 

Think about the last bad call you made.

Maybe you pushed a tech platform that flopped.

Maybe you bet big on a supposed superstar team member who turned out to be a politician and a Judas.

You cover, and it costs more than the mistake.

The longer you defend a terrible decision, the more credibility you bleed.

But when you say, “I got it wrong.

Here’s what I learned,” you turn a liability into leadership capital.

This industry moves fast.

Well…that is an argument for another day!

If you are a rigid leader, you will get left behind.

The best in the game aren’t the ones who are always right.

They’re the ones who adapt and are agile. 

The biggest mistake isn’t making one—it’s pretending you didn’t.

“Admitting fault doesn’t cost authority; it earns influence.” – Mike Brewer

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Wikipedia Classification: Leadership in Business Management

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