Make sure you learn from Mistakes

customer 6

Leadership Tip of the week

adapted from HBR

Continuing to grow and innovate means taking risks, which naturally involves making mistakes.

But mistakes don’t mean a leader should discourage experimentation. Rather, leaders should encourage people to take time to understand why mistakes happened in order to minimise them in the future.

  • Trace previous mistakes back to their roots to identify the causes and what can be done differently next time.
  • Use role-playing exercises, debates, or even formal business war games to think through how a new strategy might play out differently.
  • Try to look at things from a competitor’s point of view to factor in a new perspective.

Mistakes are inevitable and can be costly, so don’t waste them — learn from them.

Adapted from “Don’t Let Your Mistakes Go to Waste,” by Mark Chussil

Author: Andrew Mann

Managing Partner at NorthBailey. Having had senior marketing & insight roles at Tesco, Sainsbury's, Asda, Coop and M&S, I'm now using my experience & network to solve strategic marketing problems for NorthBailey clients

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