What's your process for learning from decision-making failures?

1 Identify the problem

The first step is to acknowledge that your decision did not produce the desired outcome and identify the root cause of the problem. Was it a lack of information, a flawed assumption, a biased judgment, or an external factor? Be honest and objective with yourself and avoid blaming others or making excuses. Write down the problem statement and the main factors that influenced your decision.

2 Analyze the impact

The next step is to assess the impact of your decision on your goals, your team, your customers, and your organization. How did it affect your performance, your reputation, your relationships, and your resources? What were the short-term and long-term consequences? What were the opportunity costs and trade-offs? Quantify the impact as much as possible and use data and feedback to support your analysis.

3 Generate alternatives

The third step is to generate alternative solutions or actions that could have led to a better outcome or mitigated the negative effects of your decision. Think of different scenarios and options that you could have considered or implemented before, during, or after your decision. Use creative thinking techniques such as brainstorming, mind mapping, or reverse engineering to expand your possibilities.

4 Evaluate alternatives

The fourth step is to evaluate the alternatives that you generated and compare them with your actual decision. How feasible, effective, and desirable were they? What were the pros and cons of each alternative? How would they have aligned with your goals, values, and criteria? Use analytical tools such as SWOT analysis, decision matrix, or cost-benefit analysis to rank and prioritize your alternatives.

5 Choose the best alternative

The fifth step is to choose the best alternative that you evaluated and decide how you would implement it if you had the chance to redo your decision. What steps would you take, what resources would you need, what risks would you face, and what results would you expect? Write down a detailed action plan and a clear success measure for your chosen alternative.

6 Apply the learning

The final step is to apply the learning from your decision-making failure to your future decisions and actions. What did you learn about yourself, your situation, your process, and your outcome? What can you do differently or better next time? How can you prevent or reduce the likelihood of similar failures? How can you share your learning with others and contribute to their improvement? Write down a summary of your key takeaways and a commitment statement for your future growth.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?