Failure can be a devastating thing and not to mention embarrassing when you have a lot of eyes and ventures banking on you. Where the element of positivity comes into play, is how you move forward and let go of the failure… You have the opportunity to make something great out of it it’s just all about how you recover. Below are three steps from, Bruce Cazenave, an executive at Black & Decker, and current CEO of Nautilus, Inc., to help you ensure a positive outcome from a fail:
1. Know when to move on.
This phrase describes the ability to let something go before you’ve invested an overabundance of time, energy and resources. The key is to reflect on how you can push yourself and team members to maintain a continued focus on what the company or organization can do better.
“Persistence can change failure into extraordinary achievement.”– Marv Levy
2. Equate success to the lessons learned.
One of the biggest challenges individuals face is to take a step back from failure and see the bigger picture. For example, we make it a point to host casual gatherings where our employees are encouraged to share input on everything from our latest products to workplace issues.
This is an opportunity to discuss what is and isn’t working, and what lessons we can glean as individuals, as teams and as a company. As we begin to think about failure being a learning opportunity, rather than a negative, it becomes easier to find the education component within nearly any situation.
3. Make each failure a strategic one.
When failure does happen, it is essential to be mindful and deliberate about why something didn’t work, as well as attentive to what can be learned. This “big-picture” thinking is key to reaping the most out of a seemingly negative situation. Being mindful of the past missteps you have encountered will help you avoid repeating the same mistakes.