Relationship with Failure: Why it Matters and How to assess it !

When it comes to leadership, we often focus on traits such as vision, strategic thinking, and decision making. However, one trait that is equally important, yet often overlooked, is a leader's relationship with failure.

Let's face it, #failure is an #inevitable part of the #business world. In fact, a study by Harvard Business Review found that up to 70% of #changemanagement initiatives fail. But it's not the failure itself that's the problem, it's how a leader #responds to it. A leader who views failure as a learning opportunity is more likely to take risks, try new things, and ultimately achieve #success. Take Jeff Bezos, for example, he once said "I've made billions of dollars of failures at Amazon.com. Literally billions."

On the other hand, a leader with a negative relationship with failure may be less likely to take risks, which can stifle growth and innovation. A study by the University of California, Berkeley found that CEOs who fear failure are less likely to invest in new projects and take on more risk.

So, how can #organizations #assess a leader's #relationship with #failure?

1. One way is to observe how the leader responds to #setbacks. A leader with a healthy relationship with failure will be more #resilient and able to #bounceback from failure more quickly.
2. Another way is to observe if the leader is willing to take #risks and try new things, even if it means the #possibility of failure. For example, when Tesla CEO Elon Musk was asked about the risks of his company's electric cars, he replied, "it's not a matter of if, it's a matter of when."
3. Another way to assess a leader's relationship with failure is to ask them to reflect on their past failures and how they have #learned from them. This not only gives #insight into how the leader views failure but also provides a glimpse into their #problemsolving skills and ability to learn from their mistakes.

In today's business world, assessing a leader's relationship with failure is more important than ever. Organizations that recognize the importance of this trait and take steps to assess it in their leaders will be better equipped to navigate the challenges of today's business landscape and achieve long-term success."