Welcome to another great episode of the BrainTree Podcast!
[01:37] Rocky gets us started with a quote from Henry Ford.
“Failure is the opportunity to begin again, more intelligently.”
[02:33] Getting into the meat of the podcast, Rocky tells us about the inevitability of failure and the negativity around it. What does failure mean to you? Prue tells us that failure to her means a failure to grow. Rocky delves into that and explains the difference between people taking failure personally and those who don’t take it personally. Taking failure personally can lead to shame and this is what creates the fear of failure.
[11:38] Failure is a good thing! If you protect yourself from failure then you protect yourself from growth.
[13:53] Rocky gives us some quotes about failure. James Dyson tells us that learning from your failures is the key to growth. Failure is only a bad thing if you fail to learn and grow from it. Twyla Tharp tells us that all real change involves failure. The best way to fail is in private, you need the private failures to make a public success.
[19:24] Prue tells us that failure is good, but you want the failure and learning to take place as early as possible in the process. Failure in an exam is bad, while failure in a practice exam gives you a change to learn from your mistakes.
[21:04] Rocky shares some more research with us and outlines Jamer Hunt’s Six Types of Failure.
- Abject Failure
This is the really dark one. It marks you and you may not ever fully recover from it. People lose their lives, jobs, respect, or livelihoods. Examples: British Petroleum’s Gulf oil spill; mortgage-backed securities.
2. Structural Failure
It cuts — deeply — but it doesn’t permanently cripple your identity or enterprise. Examples: Apple iPhone 4’s antenna; Windows Vista.
3. Glorious Failure
Going out in a botched but beautiful blaze of glory — catastrophic but exhilarating. Example: Jamaican bobsled team.
Everyday instances of screwing up that are not too difficult to recover from. The apology was invented for this category. Examples: oversleeping and missing a meeting at work; forgetting to pick up your kids from school; overcooking the tuna.
Small failures that lead to incremental but meaningful improvements over time. Examples: Linux operating system; evolution.
6. Predicted Failure
Failure as an essential part of a process that allows you to see what it is you really need to do more clearly because of the shortcomings. Example: the prototype — only by creating imperfect early versions of it can you learn what’s necessary to refine it.
[26:35] To manage failure we need to reframe it. So here’s some question for you listeners:
Why is making mistakes good? How can it be beneficial?
How have past mistakes helped you grow and evolve?
Answer in the comments! Feel free to leave us any other feedback, questions or comments and leave us a review on iTunes!