“Some of the most important and insightful learning is far more likely to come from failures than from success.” ~ Former Procter & Gamble CEO A.G. Lafley, interviewed in Harvard Business Review (April 2011)
How we respond to failures and bounce back from our mistakes can make or break our careers. The wisdom of learning from failure is undeniable, yet individuals and organizations rarely seize opportunities to embrace these hard-earned lessons.
Harvard business professor Rosabeth Moss Kanter is unequivocal: “One difference between winners and losers is how they handle losing.” Even for the best companies and most accomplished professionals, long track records of success are inevitably marred by slips and fumbles.
Our response to failure is often counterproductive: Behaviors become bad habits that set the stage for continued losses. Just as success creates positive momentum, failure can feed on itself. Add uncertainty and rapidly fluctuating economics to the mix, and one’s ability to find the right course is sorely tested.
Long-term winners and losers face the same ubiquitous problems, but they respond differently. Attitudes help determine whether problem-ridden businesses will ultimately recover.
Luckily, most of us can learn to become more resilient with training and coaching.