By MARK MOSES
We all make mistakes. If we don’t, we’re not taking enough risks. Executives with big responsibilities sometimes make big mistakes. It comes with the territory.
But I have often watched leaders struggle to recover from a mistake made that probably didn’t have to be as personally or professionally damaging to them as it was.
They simply didn’t respond well enough, and it cost them more than it should have.
Here are five steps to move forward and learn from leadership mistakes:
Step 1: Communicate quickly
You don’t have to tell the world, but those who need to know should hear it from you and not from anyone else.
Let the offended parties know and the people who will have to answer for the mistake. This can’t be done too soon. Surprises like this never turn out well, but with advance knowledge, many times further damage can be averted.
Step 2: Own it
Don’t make excuses. Don’t pretend it didn’t happen. Don’t blame others. Don’t say, “I’m sorry,” but then try to wrap the other person into your story.
Ask for forgiveness, if necessary, but own it now. You made a mistake. Be a leader. Own the mistake and be willing to accept the consequences.
You’ll be far more respected and stand a better chance of bridging support in the recovery process.
Step 3: Stop the loss
Do whatever you can to stop further damage from occurring. If there are financial issues involved, try to recover as much as you can.
If there is collateral damage with relationships, apologise quickly and try to restore trust. I have always found that a humble, but confident response is usually best in these situations.
Step 4: Figure out what’s next
Help the team recover. Find solutions. Don’t leave the clean-up to anyone else.
As you lead into the mistake—or even better—lead through the recovery. Help bring people together, seek wisdom, and help steer energy back to a more positive position.
Step 5: Learn from it
The best thing you can do is to grow from mistakes—all of them. They can shape us as people and leaders—either positively or negatively. The good news is that we get to decide which one.
In the process of recovery, sometimes keeping a journal is helpful. Start with the question, “What can I learn from this that will help me make better decisions in the future?”
Mark is the founding partner of CEO Coaching International where he and his team coach entrepreneurs and companies on ‘Best Practices’ in determining where they want to go, how to get there, how to grow their leadership team and put accountability systems in place to ensure that it happens.
What leadership mistakes have you made? How did you respond? What did you learn? Comment below! For more Try This articles, click here.