I was sitting in a room of executives from around the world, reviewing our results. Some people’s numbers were pretty good, but many of us had performed below target. It was awkward. Suddenly, our leader stopped, and said,
“We’re going to change things up today. We’re going to talk about mistakes.”
The room got quiet. People looked at the floor. You could almost hear the fight-or-flight reflexes kicking in.
He continued, “Our new strategy requires we do things we’ve never tried before. Inevitably, we’re all going to make mistakes.
Our biggest return on investment from these mistakes is going to be our learning.
If we don’t learn from our mistakes, all we do is incur costs. If we can share what we’re learning from our mistakes, all of us can start applying these learnings faster, we can get a better return on investment for each mistake. So today, each of us is going to share one mistake we made this past year, and what we are learning from it. I’ll start.”
And so began one of the best leadership development sessions I’ve ever been part of. Each person went through their biggest mistake, the decisions that led them there, the pain, and the scars. We talked about how that learning might apply to each of our own areas of responsibility. We started to see ourselves as scientists, learning together.
Have you heard that it’s good to “fail fast”?
The “fail fast” concept is used in business, technology, and innovation circles to encourage rapid experimentation. Instead of avoiding failure at all costs, failing fast encourages people to take calculated risks, test hypotheses, and learn from the outcomes, whether they are successful or not.
Jeff Bezos, CEO of Amazon, famously said, “We need big failures if we’re going to move the needle — billion-dollar scale failures…And if we’re not, we’re not swinging hard enough.”
But there’s one problem. Failing feels really bad!
When we make mistakes, our brains release stress hormones. We feel disappointment, embarrassment, even shame. Our “fight or flight” reflex makes us want to run and hide.
We’ve been taught since childhood that mistakes are bad. Flipping that idea on its head and seeing them as investments – ( and even celebrating them as imperfect action!) — can help you get less attached to perfect outcomes.
Failing fast requires getting okay with making mistakes. Are you? Is your team?
Why not try holding an “ROI on Mistakes” conversation with your own team? Soak everyone’s brain in a little dopamine, the “happy hormone.” as you celebrate what you’ve learned.
You will be surprised how this kind of open communication can build trust, align your team, and prepare everyone to bounce back from mistakes and move forward.
I’d welcome your thoughts – and some of your scars!
— Susan Schramm
This article is part of my newsletter, which equips and energizes leaders with practical ways to move forward, whether leading a new strategy or getting one back on track. Subscribe if you’d like insights like this one or twice a month.
Explore my website, www.gotomarketimpact.com, to learn more about my upcoming book, “FastTrack Your Big Idea!” as well as my offerings to help you and your team clarify your strategy and get results faster. Or message me, and let’s connect! susan.Schramm@gotomarketimpact.com.
