The big difference between persevering and
recovering through failure is that recovery requires a pause and a
conscious choice about where you go from here based on what you have
learned from failing. Webster defines persevering as, “to go on resolutely or stubbornly in spite of opposition, importunity, or warning.” Recovery is about fully stepping in, once again, to your leadership and moving forward with the new information rather than in spite of the learning. See the difference?
What is here now? What is different now? What is available now that perhaps didn’t exist before this failure?
Here is a personal story. After
the market crashed in 1987, I left my job trading stocks to start a
sports marketing company because the career prospects in the market
looked rather dim to me. After a phenomenal start with a contract from Coca-Cola USA and then Oakland
A’s slugger Jose Canseco, the business continued on for six years
generating revenue and growth but unable to generate a profit. I persevered. I was an entrepreneur, committed to my vision. I could make this succeed against all odds and in fact, by some measures of success, growth and revenue, it was doing well. But, very little profits.
The business plan was flawed. We were negotiating contracts between corporations and professional athletes and collecting a commission. We
were selling large consumer promotion programs to McDonald’s, Burger
King, and 7-11 Convenience Stores on dinky margins and we were running
labor intensive sports events doing everything from finding sponsors to
selling tickets and managing event logistics. We
had failed to define our niche, a point of differentiation between us
and our competitors and we therefore never said no to a contract, even
if the margins were too thin. We were so busy persevering that we never stepped back to see that the plan was failing and then make the necessary adjustments.
Culturally there is a sort of honor in persevering but the risks are high. When
faced with failure, your most leaderly move is to take pause and make a
conscious choice about where you want to go next and how you want to
lead from this place.
Best,
Lora
lora@TheCoachApproach
The Coach Approach, LLC
