Recently, I came across this post about failures of leadership. To me, Leadership is much more than following a set of rules or what someone has written in a book. Ideally it is instinctual and second-nature for one in the leadership role to not only guide, but also to learn.

Failure is certainly a very good learning experience for all involved. Have been broke financially a couple of times and once near bankruptcy I certainly learned more from these experiences than any successes, small or large. To me, it is all about what one does afterwards, as this is how one is judged in the long run.

My post,”Admitting Mistakes are Keys to Success” discussed this very notion. Abraham Lincoln and Bill Gates both failed at their first business ventures several times and yet they were able to move on and become the leaders that they are now known as.

There is a quote by David Feherty that rings true for these thoughts: “It’s how you deal with failure that determines how you achieve success.”

A few simple things I’ve learned from my challenges and “not so successes”…

• Stand out: Do what you do best and let the world know. We utilize social media a great deal and simple marketing to differentiate ourselves from the competition.
• Innovate: Set yourself apart. Have you done something new in your industry? Are you known for certain areas of expertise?
• Move Faster: To me, erring on the side of being proactive is better than letting your competitor beat you to it. Act so you don’t have to react.
• Dominate the Field: Focus on what you do and do it better than anyone else.
• Employees: Show respect and treat your team as you would want to be treated. They are your best assets to your company.
• Desire Excellence: It can be contagious.

The road to excellence starts with the smallest details. Overlook them to your detriment. Customers would rather deal with a quality company, that’s a fact. Balanced correctly, the two will make you a better company. But as I stated previously, if you don’t do it, someone else will.

What are your thoughts on learning from failures or mistakes? Do any stand out as learning experiences?