In a world where we’re wired to favor success stories over tales of missteps, it’s time we flipped the script and explored the captivating domain of failure. New research, illuminated by the wisdom of CEOs, has unveiled a treasure trove of insights hidden within our most humbling experiences. So, what exactly do we gain from our blunders, and can we transform them into catchy proverbs for life’s guidebook? Let’s embark on this enlightening journey.

Learning to Dance with Failure

Our brains are a peculiar bunch; they’d rather learn from falling flat on our faces than heed the sagacious advice of others. While it might seem counterintuitive, there’s a reason for this phenomenon. Learning from others is a breeze, but it’s as fleeting as a summer breeze on a sweltering day. What we learn from our own trials, however, sticks around like an old friend.

The Painful Classroom of Failure

Failure, it turns out, is a tough but effective teacher. One respondent wisely admitted, “All the things I have learned, I learned after banging my head against the wall.” Research by Madsen and Desai further underscores this truth – failure is a superior instructor compared to success, which often evaporates from our memory like morning dew.

The Triple Insight: Unlearning, Relearning, and Acting

So, how does this mystical transformation from failure to wisdom happen? Our research, centered on the learning journeys of CEOs, unravels a process involving a triple insight, a dance between intuition and reflection, and a whirlwind of emotions. It culminates in the creation of simple, proverb-like rules.

Imagine this process as a puzzle. Failure presents the first piece, challenging our existing beliefs. At this stage, we’re often befuddled, replaying the mishap in our minds, desperate for clarity. Then, as if by magic, insight strikes. It may not always arrive as a sudden “aha moment” but can linger as an “aha period.” This triple insight illuminates the path forward, unveiling what needs unlearning, what needs relearning, and what action we must take.

Turning Wisdom into Catchy Proverbs

To make the most of this transformative process, we can distill our triple insights into pithy, personal proverbs. Consider this: after a calamity on my quest for a long-distance triathlon, I learned three invaluable lessons. First, I unlearned the notion that my body was invincible. Second, I embraced the principle of treating my body with respect. And finally, I crafted a pragmatic rule: “At the first pain, I pay attention. At the second pain, I stop.”

Catalyzing Our Learning from Failure

Now, how can we expedite this learning process? Based on the triple insight framework, we can extract gems of wisdom from our setbacks by probing three critical questions: What erroneous assumption led to the failure? What is the new truth? And what actionable steps must we take?

So, let’s give it a whirl. Recall a recent fiasco, and in a matter of moments, articulate your personal triple insight. You’ll be surprised at how quickly it unveils the wisdom within.

Sharing the Proverbs of Learning

As the icing on the cake, sharing our newfound proverbs with others can be profoundly impactful. By doing so, we not only reinforce our own learning but also extend a helping hand to those who might benefit from our experiences.

In a world inundated with tales of triumph, let’s celebrate the untold wisdom concealed in our failures. Remember, it’s often through our stumbles that we unearth the most precious life lessons, transforming them into catchy proverbs that illuminate our paths to success.

References:

• Atanasiu, R., Ruotsalainen, R., & Khapova, S. (2023). A simple rule is born: how CEOs distill heuristics. Journal of Management Studies, 60(5), 1064–1104.
• Bingham, C. B., & Eisenhardt, K. M. (2011). Rational heuristics: the ‘simple rules’ that strategists learn from process experience. Strategic Management Journal, 32(13), 1437–1464.
• Madsen, P. M., & Desai, V. (2010). Failing to learn? The effects of failure and success on organizational learning in the global orbital launch vehicle industry. The Academy of Management Journal, 53(3), 451–476.
• Wood, T., & Porter, E. (2019). The elusive backfire effect: Mass attitudes’ steadfast factual adherence. Political Behavior, 41(1), 135–163.