Continuing to grow and innovate means taking risks, which naturally involves making mistakes. But mistakes don’t mean a leader should discourage experimentation. Rather, leaders should encourage people to take time to understand why mistakes happened in order to minimize them in the future. Trace previous mistakes back to their roots to identify the causes and what can be done differently next time. Use role-playing exercises, debates, or even formal business war games to think through how a new strategy might play out differently. Try to look at things from a competitor’s point of view to factor in a new perspective. Mistakes are inevitable and can be costly, so don’t waste them — learn from them.
Adapted from "Don't Let Your Mistakes Go to Waste," by Mark Chussil
