Reid Hoffman (co-founder of LinkedIn) famously said, “If you haven’t experienced setbacks or failures in your first business venture, it might indicate that you played it too safe or launched too late.” While failure can undoubtedly sting and stings harder when you fail in a leadership role.
Most people struggle to accept failure as they think that it can cause them a loss of self-esteem and stature. Well, they might not be completely wrong in their outlook towards failure, especially when they are conditioned to believe that success can only be the best way to survive in this competitive business world. However, did you know that successful leaders might just negate that thought?
Yes, contrary to the cliched belief that only success can bring you recognition and fame, most revered leaders regard failure as the harbinger of opportunities. Such eminent personalities not only spot the silver lining in the dark cloud but also identify the varied prospects of learning and growth hidden in it.
Is it easy to accept failure?
Maybe not, as it is better said than done! Despite knowing that setbacks are integral to your journey and experiences, failure can leave you uncomfortable, compelling you to question your self-worth.
Why do leaders fail?
Now, there could be a hundred reasons to fail as a leader. Some common pitfalls include:
Lack of transparency: Traditional leadership equates secrecy with strength, but if this caused your downfall, it’s a wake-up call. Failing to communicate clearly can erode trust and breed a toxic work environment.
Lack of self-awareness: Do you understand your own strengths and weaknesses? A lack of self-awareness leads to ineffective decision-making.
Considering performance as the only proof of success: Creative burnout is real among employees. Prioritizing performance over job satisfaction can lead to a set back for long term success.
Importance of recognizing the failure
Embracing failure may not be as easy as it sounds. However, it is this discomforting experience that leaders can keep themselves attuned to as their success ladder. An indispensable factor required to turn failure into a positive change is accountability. Hence, you may find leaders who display relatively more empathy and patience.
Good leaders agree that failure gives them a chance to identify, learn, and analyze what did not work for them. If you resonate with this thought, let us understand what makes a good leader.
Signs you are in the making of a great leader
You can demonstrate the courage to face and accept failure
You display humility
You don’t hesitate to discuss vulnerabilities with teammates.
Realistic leaders are likelier to consider people’s perspectives and ideas, especially when they review team failure. Not only does it enhance compassion, but it also provides teammates the space to relate and collaborate better with their leader.
Using failure as fuel for success
Great leaders don’t merely survive failed experiences; they thrive because of them. They accept failure as a part of the leadership process. This is what becomes a core part of entrepreneurial thinking or leadership resilience. While there may not be a handbook to learning from failure, here are a few tips that might help leaders use failure as a fuel for success:
Analyze the situation: Delve not dwell into the specifics of what went wrong. This analytical approach can include leveraging decision logs, SOPs, etc.
Seek feedback: Engage with your team, mentors, or colleagues to gain fresh perspectives and insights to find blind spots.
Document your learning: Maintain a journal or document where you record your reflections and lessons learned.
A strategic approach to handling failure can bring in dynamic possibilities and enable the potential to identify new approaches. In essence, failure reinvents the approach to lead, and failed experiences become a vision of resilience instead of defeat.
In the end, it’s not about avoiding failure; it’s about embracing it, learning from it, and using it as a catalyst for growth. Great leaders do not see failure as a dead end but as a detour—a necessary part of the journey that reveals new pathways and opportunities. By accepting their vulnerabilities and demonstrating resilience, they create an environment where innovation thrives, and teams feel empowered to take risks.
So, ask yourself: Are you ready to redefine failure? Are you prepared to see it not as a limitation but as a launchpad for your next success? Great leaders are.
