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Prefer to read? Here’s the transcript of how great leaders handle mistakes
We all make mistakes, and this includes even the best and most competent leaders and thinkers.
It happens, even when we do everything in our power to prevent them. But it is not the mistakes that are as important as what happens next.
It is our ability to take ownership that also adds to our charisma and likeability with our teams.
I saw this play out in first person during my insurance industry stint as the CFO for one of the company’s non-life Central Europe offices. An insurance module was introduced and was supposed to have been integrated with the accounting software.
It was supposed to make life easier for all of us. What happened was the contrary.
It led to mass resignations of all the CFOs in the region except for the one in Finland. People left not because they didn’t love their work. The long hours at work without a break even on weekends led to health issues and in one case, the CFO quit because his wife had threatened to leave him.
The Regional Controller was sent back to New York because the way he handled the situation led to losses. Good companies don’t want specialized manpower leaving a lean set up.
In contrast, my Country Manager had sounded an alert at the very beginning. He had suggested the company start with a small office first to test for any glitches before making it live in other offices.
His suggestion was shot down as being pessimistic. When our systems would crash he’d try to help out by escalating the issues to the developers and even share his input. By chance he was not only an insurance specialist but also had a degree in Finance and was able to articulate the issues.
My learning from this experience was that genuinely great leaders have mastered the art of dealing with errors, and we can each learn a lot from their example.
Hi, I’m Vatsala Shukla from Karmic Ally Coaching and I’m going to share 7 of the most important things that great leaders do and what you can learn from how they handle mistakes.
Before I do that, please subscribe to my channel and share any of your own experiences as a leader in the comments.
The first thing to do is to come clean quickly
When something has gone wrong, great leaders are the first ones to admit there is a problem. They don’t try to cover it up, they don’t blame other people, and they don’t’ wait to see if anyone notices. Take responsibility, even for those parts that you did not cause.
Don’t understate the scope of the problem
Trying to minimize the challenge does not make it any easier to tackle or solve. Belittling the problem is worse than hiding it because you are being dishonest about how it could affect other people.
Make sure you have fully diagnosed the problem
The more you know about what happened and why, the better you will be able to devise the right solution or make the right changes in the future. Giving a solution without all the information is neither helpful nor honest, so take the time to figure out the full story before trying to implement a solution.
Involve your team by asking for feedback and input
Great leaders realize that they do not have all the answers and that others on their team have valuable insights. While you accept responsibility as a leader, you can still be open to suggestions from your team. The same is true for us all.
People around you have perspectives and experiences different from yours, so do not be afraid to ask for advice or input on how to solve your challenge. Besides, it encourages psychological safety for your team.
Make sure the problem is resolved
Leaders do not rest until a resolution is found, and neither should you, especially when your mistake affects other people. Leaders provide updates to their team when solutions are in the works. And be sure the people in your life know precisely what you are doing to help mend your errors when they are impacted.
Help others learn from your mistakes
When problems are resolved, leaders use that opportunity to share the lessons learned with others. Leaders want to make learning opportunities for everyone else, too, so they make a point to share their newfound understanding. When you see a friend struggling with a problem that you have some experience with, be sure to let them know what you have learned from your mistakes, too.
Don’t just fix the symptom
When mistakes occur, they can sometimes reveal more systemic or structural problems. When you just fix the immediate problem and not the larger issue, you are guaranteeing that something else will go wrong in the future. Take the time to fix it right. This is true in business, relationships, personal growth, and everything else in life.
And finally, make a commitment never to repeat your mistakes.
The best way to show others that you are sincere in your efforts to fix a problem is to learn from your mistakes. Break the cycle and stop repeating behaviors or beliefs that perpetuate the problem. Actions speak louder than words, and when a mistake changes you for the better, it speaks loudest of all.
Leaders get to be so because they realize that someone must be in charge and accept responsibility for when things go well and when mistakes happen. The same is true for you in your own life.
Level Up Your Leadership
That’s why I want to introduce you to Level Up Your Leadership to give you practical tips to become an even better leader by adopting the mindset of a leader so that you’re confident in yourself and aware of the challenges that lie ahead.
Good leaders know how to plan and organize and you’re going to learn to eliminate the one issue that plagues many leaders that fail to execute on their goals and plans.
You’ll start to implement a planning and organization method originally created by a former US President that will help you conquer the priority tasks while eliminating the time-wasting ones and make your workload lighter at the same time.
Effective leaders know how to create team loyalty, and this strategic guide shows you how to make your team loyal to the point where they could “die” for the cause you’re fighting, which in your case is your business goals.
This includes knowing how to do performance reviews that create happier and more productive team members because they realize their improvement needs are being addressed properly.
True leaders apply their leadership skills even in situations that happen outside of their office so they can navigate through life as an individual and a leader of their family and community too.
This is Level Up Your Leadership is an actionable guide with a checklist to keep you on track and a resource cheat sheet to deepen your learning so that you develop your leadership skill with visible transformation. Your success is important to me, and I’ve included 2 bonuses that will get you even better results.
Be the leader of your happiness and start handling mistakes like a boss!
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