Valuing Mistakes

April 29, 2009 | By | Add a Comment

Let’s face it – things go wrong.

It’s life and getting all upset when things go wrong is going to get nowhere.

Being able to accept this and learn from it is one indicator of a true manager and leader.

There’s a famous story of a senior executive at a large American corporate. A project went badly wrong, costing them some $40M. He was in line for a fiercely contested promotion and there were other great candidates.

In the end, he was the successful candidate and when those responsible for choosing him were challenged on the validity of their choice, they replied that he had $40M invested in his development already!

Projects don’t work out 100% perfectly. That is how it is.

So part of the challenge, say, where it goes 30% wrong, is to get value back from that 30% in terms of learning.

Planning projects, delivering them and reviewing are three key components for success.

Yet many spend 20% of the time planning (on a good project), 75% delivering and 5% (if they are very lucky and focused) on the reviewing part.

And that is just the spot to add value lost and gain the bonus of the learning for the future.

It might not be worth $40M.

Then again it might be!

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Filed in: Coaching and Feedback, Leadership and Management, Personal Development | Tags: , , , ,

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