What if failure wasn’t the end but the beginning? Dr. Amy Edmondson, Harvard Business School professor and author of The Fearless Organization and The Right Kind of Wrong, says that failure is not proof you’re falling behind – it’s proof you’ve taken a risk. And if you set it up right, it can actually be the key to progress.

In this season finale of This is Small Business, host Andrea Marquez sits down with Amy to explore why our relationship with failure shapes how far we can go as entrepreneurs. From the science of “psychological safety” to the three types of failure – basic, complex, and intelligent – Amy offers a crash course on how to fail the right way, what to learn from it, and why the best entrepreneurs are the ones who stumble, recover, and keep moving forward.

If you’ve ever worried about making mistakes or held yourself back from starting and taking risks because of the fear of failing, this conversation will help you reframe failure as momentum, not defeat.

Got a bold leap of your own? Share it with us in an Apple Podcasts review, Spotify comment, or email us at thisissmallbusiness@amazon.com – you might hear it in a future episode.

In this episode, you’ll hear:

(1:45) Why do conversations and team dynamics matter so much for success? Amy explains how the quality of everyday interactions shapes an organization’s performance.

(3:43) What is psychological safety in the workplace and why should entrepreneurs care about it? Amy explains why people need to feel safe to speak up, ask questions, and admit mistakes in order for teams to learn and innovate.

(5:40) How do you actually create psychological safety on your team? Amy shares a simple three-step framework: set the stage, proactively invite voices in, and respond with appreciation.

(9:03) What’s the real difference between a mistake and a failure? Amy breaks down her three types of failure – basic, complex, and intelligent – and shows how intelligent failures are actually discoveries that fuel growth and innovation.

(12:57) Can failure actually lead to breakthrough ideas? Amy tells the story of her first big research failure and how it unexpectedly led to her pioneering work on psychological safety.

(15:49) How do you make failure safe without encouraging the wrong kind of failure? Amy explains why innovation requires failure – but only in the right contexts – and shares three dimensions every entrepreneur should check first: human safety, economic cost, and reputational risk.

(18:34) How do you know if a failure is one you can come back from? Amy shares her four criteria for an “intelligent failure” that could help you improve without causing lasting damage.

(20:19) Do successful people fail more often than the rest of us? Amy explains why the best in any field – from science to sports – tend to have more failures, not fewer.

(22:41) How can entrepreneurs stop being afraid of failure? Amy explains why nobody’s in the “perfection business” and how reframing setbacks as “catch and correct” moments can build resilience.

What would you do if family duty came calling – along with a big ol’ guilt trip? For Adia Howard, the COO of her family business RA Cosmetics, it meant leaving behind her steady career as an occupational therapist to dive into the unknown world of entrepreneurship. Andrea Marquez sits down with Adia to talk about how she’s not only redefining leadership but also carrying her family’s legacy forward.

Find out how Adia navigates the challenges of a family business, brings a fresh vision to R.A. Cosmetics, and discovers a whole new side of herself. Plus, you definitely don’t want to miss Andrea’s attempt at making custom shea butter with Adia – spoiler: it doesn’t go as planned.

If you’ve ever wondered what it takes to reinvent yourself inside a family business or how risk can open doors you didn’t even know were there – this episode is for you.

Got a bold leap of your own? Share it with us in an Apple Podcasts review, Spotify comment, or email us at thisissmallbusiness@amazon.com – you might hear it in a future episode.

In this episode, you’ll hear:

(1:51) Ever wonder what it’s really like growing up around a small business owner? Adia shares how watching her dad hustle seven days a week was both intimidating and inspiring.

(4:42) What would you do if you had to choose between a stable career and keeping your family’s business alive? Adia opens up about her crossroads moment and the guilt trip from her mom that pushed her to decide.

(6:04) Think you have to take a big leap all at once? Adia shows how easing in part-time gave her the confidence to eventually commit full-time.

(8:30) Worried you don’t have enough experience to switch paths? Adia proves you can learn on the job even when faced with permits, marketing and safety data sheets.

(10:13) Can bringing your personality into your business make a difference? Adia explains how her softer, community-focused leadership changed the culture at R.A. Cosmetics.

(13:50) Was the risk of leaving a secure job worth it? Adia reflects on the growth of R.A. Cosmetics and the impact of adding her own touch to the brand.

(16:40) Could your kids one day follow in your footsteps? Adia shares her hopes for her son and how she’s showing him that entrepreneurship doesn’t have to be scary.

(17:58) Can taking one big risk completely change how you see yourself? Adia reveals how stepping into the business reshaped her confidence and offers advice for anyone afraid to leap.

Entrepreneurship will always involve risk so how do you learn to control it instead of fear it? Dr. Lois Shelton, Professor of Management at the Nazarian College of Business and Economics at California State University Northridge, joins host Andrea Marquez to break down why the most successful founders aren’t thrill-seekers. They’re calculated decision-makers who know how to test ideas, filter feedback and adapt without letting fear or overconfidence take control.

You’ll learn practical risk management strategies for making smarter moves — like lean startup experiments and the “affordable loss” approach — plus how to know when to trust your gut and when to listen to your customers.

If you’ve ever talked yourself out of an idea because you didn’t feel ready, this conversation will change how you see risk and give you enough information to start or grow your business with confidence.

Got a bold leap of your own? Share it with us in an Apple Podcasts review, Spotify comment, or email us at thisissmallbusiness@amazon.com – you might hear it in a future episode.

In this episode, you’ll hear:

(01:54) What makes a “rebel with a cause” in business? Professor Lois explains how purpose-driven entrepreneurs think differently and turn ideas into action.

(04:06) Do successful entrepreneurs really love risk? Learn why they prefer calculated, manageable risks over extreme leaps.

(07:26) How can you test your idea without spending a fortune? Here’s two frameworks that help you reduce risk and gather feedback early.

(9:21) How do you know which feedback to listen to? Lois breaks down how to spot patterns in customer responses and block out advice that will send you off track.

(13:39) What are the biggest mistakes founders make with risk? From skipping market research to ignoring warning signs, here’s what to avoid early on.

(15:50) How can reframing failure boost your chances of success? Professor Lois shares why seeing every setback as a learning opportunity can actually make you more credible to investors and customers.

(19:32) What’s the first step you could take if you’re frozen by uncertainty? Discover how to use mentors, free resources, and small actions to move forward even when you don’t feel ready.