The Confidence Chronicles: Part 2: Building Confidence Through Strategic Risks and Failures ??

Introduction: The Power of Embracing Risks

"I almost quit last week," Maria said, her voice steady but her expression betraying the storm within. We were having coffee, and I could tell this wasn't just casual small talk. "Everything went perfectly for the product launch, but afterward, I couldn't shake the feeling that I'd just gotten lucky. Next time, luck wouldn't be enough."

Her words mirrored what so many of us face. As project managers, we live on the edge of uncertainty, often navigating chaos to deliver outcomes that are anything but certain. And while we celebrate the successes, the fear of failing, or worse, of being "exposed" as unworthy, can stop us in our tracks. But what if embracing those risks and potential failures is exactly how we build confidence?

Why Risk-Taking Fuels Growth

When we think about confident leaders, we often imagine individuals who always make the right decisions, avoid mistakes, and seem almost infallible. In reality, the most effective leaders are those who have failed, learned, and grown from their mistakes.

Taking calculated risks and accepting the possibility of failure is the secret to resilience and growth. It's in those moments of discomfort, when you stretch yourself beyond your known capacity, that the real magic happens.

1. Risk as a Confidence Builder

In a recent chat, Alex shared how taking risks early in his career helped him break out of his shell. "I decided to lead a project that was far outside my comfort zone," he explained. "I knew that failure was a real possibility, but I also knew that staying where I was would mean stagnation." He emphasized how taking that leap transformed his confidence. It wasn't the outcome that mattered most, but the realization that he could handle the unpredictability of stepping into something new.

The truth is that taking risks is like working out a muscle. Each time you stretch beyond your comfort zone, you build resilience and self-belief, even when the outcome isn’t perfect.

The Value of Failure: Failing Forward

Embracing failure is about rewiring our perception of setbacks. Instead of seeing failure as a reflection of personal incompetence, leaders learn to view it as an opportunity to adapt and improve. This reframing is crucial for lasting confidence.

Failing forward means understanding that failures are not the end but part of the process. They are stepping stones that contribute to your growth. When you fail and get back up, you teach yourself the most valuable lesson in confidence, that setbacks do not define you.

• Learn Through Action: As Dr Simisola Alabi MBBS MRCGP MSc put it, "Strategic thinking isn't just about success; it's about knowing how to navigate setbacks." Embracing failure and viewing it as a learning opportunity is what builds the confidence needed for strategic leadership.

(Reference: For more on Dr. Simisola Alabi's insights, see her article on Leadership Through Strategic Risk-Taking, published on October 1, 2024.)

Framework: How to Build Confidence Through Risks and Failures

Setting small, attainable goals helps establish a series of small wins. These wins create a sense of progress, which is vital for building and maintaining confidence. Consider incorporating small, achievable milestones into each risk you take to reinforce positive momentum.

1. Start with Calculated Risks: Confidence doesn’t come from blindly diving into the unknown. It comes from taking risks you’ve thought through, weighing the outcomes, and deciding the potential reward is worth it. Think about what is within reach but still challenging enough to grow from.
2. Reflect on the Lessons: When things don’t go as planned, reflection is key. It is important to emphasize the importance of structured reflection after major projects. Set aside dedicated time to document your challenges, lessons learned, and how you adapted. This will help reinforce growth and make future challenges less daunting. Tahirou Assane Oumarou mentioned during our fireside chat that his biggest growth moments came not during the projects that went smoothly but during the ones where things fell apart. "Failures taught me what no amount of success ever could, they gave me the context I needed to understand my limits and how to grow past them."
3. Celebrate Resilience, Not Just Success: Recognize and celebrate moments where you persisted despite setbacks. Each step back that you navigate and turn into progress helps to strengthen your ability to take on larger challenges. where you persisted despite setbacks. That persistence, getting back up and trying again, is what builds the deepest confidence.
4. Build a Risk-Resilient Team Culture: When teams see their leader willing to take risks, they feel empowered to do the same. By openly discussing failures and the lessons learned, leaders can establish a culture of trust and psychological safety. This transparency encourages team members to take calculated risks and fosters a more resilient team., they feel empowered to do the same. The key to inspiring confidence is transparency, sharing both your wins and your lessons learned from failures. This creates an environment where calculated risks are embraced and fear of failure is minimized.

A Personal Story: The Project That Almost Didn’t Happen

I still remember a major project early in my career where we were tasked with introducing an innovative solution to an existing process. The stakes were high, and I knew that, if we failed, it would set the company back significantly. I wanted to play it safe, but my gut told me otherwise. I rallied the team, presenting them with the potential gains as well as the risks. We moved forward, and while we faced significant setbacks along the way, from technical malfunctions to supply chain issues, we kept pushing.

In the end, the project was successful, but the confidence I gained wasn’t just from achieving the goal. It was from the journey, from every setback we navigated, from every obstacle we faced head-on, and from every problem we solved as a team. It was that experience that taught me that setbacks are not endpoints; they are part of the larger picture of growth.

Key Insights

• Failure is an Opportunity to Build Confidence: Each setback is a chance to test your resilience and grow stronger. Strategic leaders learn not to shy away from challenges but to use them as tools for personal and professional development.
• Risk Builds Strategic Thinking: Taking risks forces you to think on your feet, adapt to changing circumstances, and look for innovative solutions. This agility is essential for those aiming to advance into strategic roles and ultimately the C-suite.
• Leverage Setbacks to Inspire Others: As leaders, how we handle failure speaks volumes to our teams. Showcasing vulnerability and resilience in the face of setbacks can be incredibly inspiring, encouraging your team members to embrace their challenges with confidence.

Actionable Insights for Building Confidence Through Risks

Non-verbal communication plays a key role in displaying confidence, even when taking risks. Stand tall, maintain eye contact, and ensure your body language conveys assurance. This helps not only in building internal confidence but also in portraying it to your team and stakeholders.

• Challenge Yourself Weekly: Every week, take on a task that stretches your abilities. This could be volunteering for a challenging project or presenting your ideas to stakeholders. The goal is to get comfortable with discomfort.
• Fail Forward Journal: Document your setbacks, what you learned, and how you adapted. Reviewing this periodically will remind you of your resilience and how much you’ve grown.
• Seek Feedback: Ask trusted colleagues or mentors for feedback, especially after taking a risk. Understanding how others perceive your strengths can help adjust and build your confidence more accurately.
• Embrace Vulnerability: Share your challenges and failures with your team. This transparency not only builds your resilience but also creates an environment where your team feels comfortable taking risks.

Outcome: Turning Setbacks Into Stepping Stones

Confidence is not about avoiding failure; it is about understanding that every misstep is an essential part of the journey to success. By taking risks, embracing failure, and sharing these lessons, you are not just building your confidence but creating a legacy of resilience. The path to the C-suite is not a straight line, it's a journey marked by bold decisions, setbacks, and powerful comebacks. And it is through these experiences that we truly grow into strategic leaders.

Engagement Prompt

What is the boldest risk you’ve taken in your career, and how did it shape your confidence? Share your story in the comments - let’s inspire each other to transform setbacks into setups for future success!

Additional Readings

• da Silva Castanheira, G., Fleming, S. M., & Otto, A. R. (2021). Confidence in Risky Value-Based Choice. Springer Link. Read Article
• Medium (2023). Building Self-Confidence Through Embracing Failure and Learning from Mistakes. Read Article
• Science of People (2023). Confidence at Work. Read Article
• Medium (2023). Building Self-Confidence Through Setting and Achieving Goals. Read Article
• Medium (2023). Embracing Failure: A Key to Building Lasting Self-Confidence. Read Article
• SuperclassAI (2023). How to Build Confidence Through Overcoming Failures. Read Article
• Strategies for Learning from Failure (2023). Squarespace. Read PDF
• Harvard Business Review (2018). The Importance of Failing Forward for Leaders.
• Grant, A. (2013). Give and Take: Why Helping Others Drives Our Success.
• Edmondson, A. C. (2019). The Fearless Organization: Creating Psychological Safety in the Workplace for Learning, Innovation, and Growth.
• Alabi, S. (2024). Leadership Through Strategic Risk-Taking. LinkedIn Pulse Article

Next Up in the Confidence Chronicles: In Part 3, we’ll discuss how to harness confidence to communicate strategically and elevate your influence within your organization. Learn the power of storytelling, vision-sharing, and communicating like a leader. Stay tuned! ??