Anticipate Failure Before It Happens
It’s impossible not to fail sometimes in business, so you should anticipate it.
Last Fall,
Michael Canic presented to one of my
Vistage CEO
peer groups about the topic of
Ruthless Consistency. There were many things he said that resonated with me, but one idea got my full attention. He stated that whenever an organization is about to undertake a strategic objective or something else significant, the leadership team should always ask the people responsible for executing the idea, “What would make us fail?” and then take appropriate steps to mitigate failure from happening.
The Question Leaders Forget to Ask
It sounds simple, right? I can’t tell you how many times I’ve seen my clients and myself forget to ask this fundamental question. We often become enthralled with the potential of a goal or idea, focusing on the necessary steps to achieve it, rather than considering the potential obstacles that could hinder our successful completion. Every major objective has an
Achilles heel or major point of vulnerability. Moreover, there are often multiple factors outside our
scope of control. We must be careful not to become too blinded by our optimism.
I recommend that before taking on anything important in business (or life), you step back and consult the affected parties. Ask them for feedback on what could cause it to fail, what steps are necessary, and whether it’s a good idea. Encourage
honest and exhaustive feedback. Once you know your major obstacles and have a plan to overcome them, you will have a much higher probability of success.
