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Speed, adaptability, innovation: with today’s ever-expanding demands, to err is more human now than ever! But while important lessons can obviously be learned from failure, not all mistakes are worth making. 

Failure doesn’t have to be fatal.

True
False
Right !
The perception of failure varies considerably from individual to individual since each one of us invests in a project for different reasons: for example, some of us hope to have our skills recognized, while others are looking for autonomy or a sense of belonging.

Regardless of the initial motivation, the more important a project is to you, the higher the emotional price in the event of failure. Failure isn’t something we seek out, nor is it easy to live with, but one thing is certain: no one can escape it.

We all want to learn from our mistakes and setbacks, but it certainly doesn’t happen automatically. Fortunately, where there is disappointment, there is also an opportunity to make headway…as long as you eliminate the emotional barriers that will hinder the learning process.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).
Wrong !
The perception of failure varies considerably from individual to individual since each one of us invests in a project for different reasons: for example, some of us hope to have our skills recognized, while others are looking for autonomy or a sense of belonging.

Regardless of the initial motivation, the more important a project is to you, the higher the emotional price in the event of failure. Failure isn’t something we seek out, nor is it easy to live with, but one thing is certain: no one can escape it.

We all want to learn from our mistakes and setbacks, but it certainly doesn’t happen automatically. Fortunately, where there is disappointment, there is also an opportunity to make headway…as long as you eliminate the emotional barriers that will hinder the learning process.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

Smart mistakes are desirable

True
False
Right !
The good news is that small losses can create value, mostly because they are instructive. They eliminate options, enable detection of errors in reasoning, and refute hypotheses. But leaders, who are not always capable of learning from their mistakes, often fail to observe these benefits.

But these benefits are rarely understood, partly because we are not always able to learn from our mistakes and partly because not all failures are virtuous: massive failures revealed too late often have disastrous consequences. To avoid them, Sastry and Penn suggest privileging small, smart mistakes that don’t prevent teams from carrying out their tasks but also build their skills, practices, and understanding of an issue. As confirmed by Soichiro Honda, founder of Honda Motor Company, “Success represents the 1% of your work which results from the 99% that is called failure.”

Based on Fail better: Design smart mistakes and succeed sooner by Anjali SASTRY and Kara PENN (Harvard Business Review Press, 2014).
Wrong !
The good news is that small losses can create value, mostly because they are instructive. They eliminate options, enable detection of errors in reasoning, and refute hypotheses. But leaders, who are not always capable of learning from their mistakes, often fail to observe these benefits.

But these benefits are rarely understood, partly because we are not always able to learn from our mistakes and partly because not all failures are virtuous: massive failures revealed too late often have disastrous consequences. To avoid them, Sastry and Penn suggest privileging small, smart mistakes that don’t prevent teams from carrying out their tasks but also build their skills, practices, and understanding of an issue. As confirmed by Soichiro Honda, founder of Honda Motor Company, “Success represents the 1% of your work which results from the 99% that is called failure.”

Based on Fail better: Design smart mistakes and succeed sooner by Anjali SASTRY and Kara PENN (Harvard Business Review Press, 2014).

Admitting a mistake is a disavowal, in a way

True
False
Right !
Of course not. This is one of the “good” reasons to have the lucidity to drop out in time. Even when a project is clearly doomed to fail, the decision to pull the plug is a difficult one. We often doggedly cling on, even when common sense is telling us to let go. The reasons for this insistence are many and not always logical: an unrealistic feeling of confidence, procrastination, being blinded to reality.

The relentlessness that often sets in when common sense dictates stopping can be explained for good and “less good” reasons:

1/ The refusal to admit mistakes. Terminating a project into which you’ve poured sweat, time, and money can seem like giving up.

2/ The unrealistic expectation that you’ll get your winnings back. It might be time to listen to the warning signs if you’re beginning to resemble a gambler in a casino who places a bet, loses, and then bets even more in the hopes of winning back what they’ve lost.

3/ Procrastination. Postponing an inevitable decision is a classic defense mechanism when facing a threat.

Source: From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).
Wrong !
Of course not. This is one of the “good” reasons to have the lucidity to drop out in time. Even when a project is clearly doomed to fail, the decision to pull the plug is a difficult one. We often doggedly cling on, even when common sense is telling us to let go. The reasons for this insistence are many and not always logical: an unrealistic feeling of confidence, procrastination, being blinded to reality.

The relentlessness that often sets in when common sense dictates stopping can be explained for good and “less good” reasons:

1/ The refusal to admit mistakes. Terminating a project into which you’ve poured sweat, time, and money can seem like giving up.

2/ The unrealistic expectation that you’ll get your winnings back. It might be time to listen to the warning signs if you’re beginning to resemble a gambler in a casino who places a bet, loses, and then bets even more in the hopes of winning back what they’ve lost.

3/ Procrastination. Postponing an inevitable decision is a classic defense mechanism when facing a threat.

Source: From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

Take a step back now so you can cut loose more effectively later

True
False
Right !
Is there an "ideal" timespan for getting ready for failure? No, says Shepherd: this will vary depending on the individual and the circumstances.

Allowing a reasonable amount of time before abandoning a project makes sense if it will help you emotionally prepare for the failure. This delay is neither denial nor procrastination: negative signals have been received, accepted and integrated, and failure is perceived as inevitable. The "anticipation process" then comes into play: use this transition period to slowly disengage from the project and direct your energy toward other goals.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).
Wrong !
Is there an "ideal" timespan for getting ready for failure? No, says Shepherd: this will vary depending on the individual and the circumstances.

Allowing a reasonable amount of time before abandoning a project makes sense if it will help you emotionally prepare for the failure. This delay is neither denial nor procrastination: negative signals have been received, accepted and integrated, and failure is perceived as inevitable. The "anticipation process" then comes into play: use this transition period to slowly disengage from the project and direct your energy toward other goals.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

It’s best to stop as soon as possible if you anticipate failure

True
False
Right !
Be careful: if the interval between observing the failure and stopping the project is too short, the anticipation process—which will help you bounce back more quickly and maximize team efficiency—won’t be possible. A project that is broken off too abruptly for internal reasons (an unfavorable environment, a technological failure or lack of funding) usually gives the team that was working on it a nasty jolt. This is another reason to give the troops more time to prepare for the termination of the project, rather than taking them by surprise.

It’s true that postponing comes at a price. But demobilizing an entire team may cost you more dearly in the end! The contradiction between the financial and emotional fallout of failure is only superficial; the reality is much more complex and interconnected. Figuring out whether to wait or bring things to an immediate halt must be squared with these two aspects so you can make the right choice for everyone.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).
Wrong !
Be careful: if the interval between observing the failure and stopping the project is too short, the anticipation process—which will help you bounce back more quickly and maximize team efficiency—won’t be possible. A project that is broken off too abruptly for internal reasons (an unfavorable environment, a technological failure or lack of funding) usually gives the team that was working on it a nasty jolt. This is another reason to give the troops more time to prepare for the termination of the project, rather than taking them by surprise.

It’s true that postponing comes at a price. But demobilizing an entire team may cost you more dearly in the end! The contradiction between the financial and emotional fallout of failure is only superficial; the reality is much more complex and interconnected. Figuring out whether to wait or bring things to an immediate halt must be squared with these two aspects so you can make the right choice for everyone.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

You may as well move on to something else as quickly as possible

True
False
Right !
Failure automatically generates negative emotions. There are three possible attitudes that you can adopt when facing a setback, which will help prevent frustration, distress, and anger, so that you can turn the error into a learning opportunity.

Attitude 1: dissect the reasons for the setback

Defuse any potential emotional time bombs and improve your understanding by gathering your thoughts about the circumstances of the failure and discussing them with your inner circle. What decisions led to this particular outcome? What alternatives were there? This analysis and sequencing of the mistakes will help you make sense of the failure. Once it has been rationalized, it will become more acceptable, and the emotional burden will be diminished accordingly. You can then take the necessary steps to not reproduce the same mistake in the future. This in-depth analysis will subsequently become a source of personal progress and professional efficiency.

Disadvantages: focusing on failure obliges you to face the consequences, which may exacerbate negative emotions. Be careful not to sink into introspection, which can be paralyzing.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).
Wrong !
Failure automatically generates negative emotions. There are three possible attitudes that you can adopt when facing a setback, which will help prevent frustration, distress, and anger, so that you can turn the error into a learning opportunity.

Attitude 1: dissect the reasons for the setback

Defuse any potential emotional time bombs and improve your understanding by gathering your thoughts about the circumstances of the failure and discussing them with your inner circle. What decisions led to this particular outcome? What alternatives were there? This analysis and sequencing of the mistakes will help you make sense of the failure. Once it has been rationalized, it will become more acceptable, and the emotional burden will be diminished accordingly. You can then take the necessary steps to not reproduce the same mistake in the future. This in-depth analysis will subsequently become a source of personal progress and professional efficiency.

Disadvantages: focusing on failure obliges you to face the consequences, which may exacerbate negative emotions. Be careful not to sink into introspection, which can be paralyzing.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

You should get your confidence back as quickly as possible

True
False
Right !
True, but how to learn from the past without wasting time on self-flagellation? Try intentional switching between the two positions:

• First: focus on the failure and the reasons behind it so you can make the most of the experience.

• Second: when this investigative work becomes too great of a burden on your emotions, take your mind off it by turning to other matters.

Once your mental batteries have been recharged, resume your analysis with more detachment and efficiency.

Switch between the two stances for as long as necessary so you can learn all the lessons from the failure.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).
Wrong !
True, but how to learn from the past without wasting time on self-flagellation? Try intentional switching between the two positions:

• First: focus on the failure and the reasons behind it so you can make the most of the experience.

• Second: when this investigative work becomes too great of a burden on your emotions, take your mind off it by turning to other matters.

Once your mental batteries have been recharged, resume your analysis with more detachment and efficiency.

Switch between the two stances for as long as necessary so you can learn all the lessons from the failure.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

Normalize failure

True
False
Right !
True! How can you stay properly committed when the very nature of the business environment exposes everyone to repeated failure?

How can you detach yourself from failure so that it doesn’t get under your skin? You could avoid thinking about it and banish negative thoughts and emotions by concentrating on a new project or other leisure activities. Or, you could focus on finding practical solutions to the problems caused by the failure, instead of the failure itself, which will help you put it in perspective.

Disadvantages: diverting attention from the setback means not learning from it and putting those lessons to good use. Furthermore, this avoidance tactic isn’t tenable or constructive in the long term.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

Wrong !
True! How can you stay properly committed when the very nature of the business environment exposes everyone to repeated failure?

How can you detach yourself from failure so that it doesn’t get under your skin? You could avoid thinking about it and banish negative thoughts and emotions by concentrating on a new project or other leisure activities. Or, you could focus on finding practical solutions to the problems caused by the failure, instead of the failure itself, which will help you put it in perspective.

Disadvantages: diverting attention from the setback means not learning from it and putting those lessons to good use. Furthermore, this avoidance tactic isn’t tenable or constructive in the long term.

Based on From Lemons to Lemonade: Squeeze Every Last Drop of Success Out of your Mistakes, by Dean A. Shepherd, (Wharton School Publishing, 2009).

Your results

/ 8

From 0 to 3: Ouch…! 

When making your way back from something that has gone wrong, it can be tempting to blame others or make yourself look better than anyone who has been less successful.
These tactics, which are comforting to the ego at first, prevent any constructive questioning afterwards. In other words, it’s not something that you should do. 

 

From 4 to 5: Not bad! 

You’re on the right track to really learn from your mistakes. But you still need to learn to cut yourself a little slack and accept your limitations! Put things in perspective. Failure is inevitable when it comes to taking risks, and you should remember the advice given by Shepherd: “You’re not the only one to have failed”. 

 

From 6 to 8: Wow! 

Learn to be tolerant toward yourself! Drawing lessons from your mistakes means being kind to yourself, but being kind is not the same as being blind – quite the contrary!
Be kind to yourself. The aim isn’t to castigate or criticize yourself but to recognize that you’ve been through a difficult period and find out how to make things easier by giving yourself a break.