Johannesburg - Most of us avoid taking action because we’re afraid to fail. The truth is, you can choose to be overcome by failure or you can overcome failure.
The team at GetSmarter Online education company researched the topic and revealed the following 10 ways in which great leaders handle failure:
1. Great leaders accept that failure is inevitable: Accepting that failure is part of the process will motivate you to try harder.
2. Great leaders confront failure: From a young age we are taught that making mistakes is bad. Memories of past failures trigger emotions like fear and anxiety that hold us back in the present.
Take time to reflect on the mistakes you have made.
3. Great leaders never hide their mistakes: Tell your team when you get it wrong; this creates an environment where people can admit their failures.
4. Great leaders fail forward: Thomas Edison said: “I have not failed, I just found 10 000 ways that won’t work.” See your failure as stepping stones to greatness and let go of your fear of getting it wrong.
5. Great leaders recover fast: When something goes wrong, people will inevitably seek context. The best leaders do not let the burden of blame get to them. Help people to understand the context of the problem. Respond confidently with solutions.
6. Great leaders fight back: 35 percent of ousted chief executives returned to an active executive role within two years of departure, but 43 percent effectively ended their careers.
The ability to rise above failure is an essential feature of becoming a great leader. Fight back. Be energised by failure. Look for the opportunity it brings.
7. Great leaders make tough choices: Weigh up the worth of your mistakes and decide whether it’s worth fighting for or letting go of. Develop a strategy to move forward. Akio Morito co-founded Sony. The first product Sony sold was a rice cooker which burnt rice more than cooked it. Morito and partners abandoned the cooker idea and moved on to building a multibillion-dollar electronic company.
8. Great leaders realise their responsibility: Appreciate the duty you have as a leader to overcome adversity. Great leaders have a profound impact on others. How are you using the lessons you have learnt to influence those around you? Find innovative ways to improve your skills and become a more efficient leader for your team.
9. Great leaders take one for the team: Sometimes your team will want to make risky decisions, the kind that could achieve great success or could go horribly wrong. Be prepared to cover their back and let them take the risk anyway. Establish a company culture where failure is celebrated.
10. Great leaders know when to take a step back: It’s reflection time again. Take a step back and consider the failures you identified, the lessons learnt and the opportunity available. Write down how this has affected you as a leader. Use this as a reminder for next time something goes wrong.
l To view the slides on this topic, visit www.getsmarter.co.za.