I recently had the pleasure of attending Steven Bartlett’s The Business & Life Speaking Tour’ I got a lot out of attending and I will share more with you in due course, however one thing that really stuck out for me was his thoughts around failure.

Steven believes that the best competitive advantage that you can have is a high failure rate, he’s even hired a Head of Failure role to ensure that his teams continue to fail consistently. This sounds crazy until you look at his reasons behind it.

In is own words ‘Those that fail the fastest, get the most feedback, because failure is feedback and feedback is knowledge and knowledge is power.’

Allowing his team to consistently experiment and try new things in a measured way, removes the fear of failure. He believes that their failure rate is simply the rate at which his will learn and improve.

Failure can provide valuable lessons that inform future decision making and strategy, analysing what went wrong can help to identify areas for improvement as well as building resilience.

While you might not have the same resources that Steven and his team do, you can still adopt a failure mindset, reminding yourself that it is okay to keep trying new things and that failure doesn’t define who you are or what you do next.

I’d love to know your thoughts around this? Do you see failure as a good thing?