Learn How to Fail Well in 3 Easy Steps

Below is an excerpt from my book “The Future-Proof Business Transformation Playbook — 5 Pivotal Pillars for 21st Century Leaders”

#1 — Learn to fail with purpose

Failure, like any other business process, is raised on a scientific method of trial and error. You need a concrete system to make sure you fail with a purpose. However, the relevance of what you will learn from a failure is directly proportional to the initial planning before any experiment. You should also have an idea about the resources spent and what you were trying to achieve in the first place. That’s the only way you regain control over the situation and make failure work for you.

#2 — Give confidence to your employees

Remember, a single human can never be responsible for consistent strategic innovation. You have to rely on your workforce. Encourage experimentation and create an ecosystem where failure is not considered taboo. The leaders should lead by example and share stories about their own experiences where they purposely failed and eventually reached a favorable outcome. Failure needs to be incentivized as long as your priorities are right and the experimentation was done within a confined space and according to the parameters; within your strategy.

#3 — Are you failing fast enough?

Rapid failure with a quick learning mechanism ensures that you weed out all those ineffective ideas and designs to discover something that could change the world. One tiny failure each time would take you closer towards your end goal. It’s a numbers game after all.

Check out all the valuable advice in the full publication.

Until next time, you are up to date.

Originally published at https://www.linkedin.com.