Boost Your Leadership Skills with These 5 Lessons from Embracing Setbacks
Leadership involves learning and growing from varied experiences.
Over a career spanning three decades, my experiences have been diverse, moving from military training grounds to executive boardrooms, consulting for MNCs, and launching my ventures. Each chapter brought me new opportunities to fail and taught me something profound, but five leadership insights stand out as fundamental: resilience, adaptability, collaboration, a growth mindset, and purpose. These are not just lessons from business; they're life lessons that have supported my leadership philosophy and helped me mentor others. I outlined my experiences in my book Achieving Success by Failing More. In this article, I extracted some insights from my book and invite you to explore them with actionable insights you can bring into your own leadership journey as CEOs of your lives.
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#1. The Power of Mental Strength and Resilience
My time at the National Defence Academy near Pune, India, was transformative. I learned that mental strength is just as crucial as physical stamina. Throughout the gruelling drills and training, I realised that resilience is not merely about enduring challenges but also about thriving in the face of adversity. Our ability to push beyond limits is crucial, especially when we believe we have reached them. Business, similar to the military, presents unpredictable challenges. A resilient leader must navigate these challenges and turn them into opportunities while maintaining sight of the end goal. This transformative power of resilience can empower you to thrive in the face of any challenge.
"You have power over your mind, not outside events. Realise this, and you will find strength."
Actionable Insight: Practice resilience through the '5% rule.' When you think you've given your all, push yourself to give 5% more. This rule is not just a theoretical concept; it's a practical tool you can use in negotiations, project deadlines, or strategic pivots. For instance, when negotiating a deal, push yourself to negotiate for better terms instead of settling for the initial terms. Building resilience means moving past the urge to quit and accepting outcomes with composure. Detach yourself from immediate results and instead focus on the larger vision.
Ask Yourself:
- How do I handle setbacks, and how can I improve?
- Can I detach from the need for immediate results and focus on long-term goals?
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#2. The Importance of Adaptability and Continuous Learning
In a constantly evolving world, especially with the rise of digital technologies and globalised markets, staying still is not an option. Moving from the military world to IT Consulting and eventually into the Petroleum and Logistics sectors meant I had to become a continuous and fast learner. The cornerstone of effective leadership is the ability to pivot and adapt and the commitment to continuous learning. This is what keeps leaders inspired and their skills relevant in varied environments. The value of continuous learning can inspire you to adapt and thrive in any situation.
"The art of life lies in a constant readjustment to our surroundings."
Today, adaptability means embracing the digital transformation that is impacting every industry. Leaders who stay stagnant or resist change risk becoming irrelevant. This was a tough lesson, but adapting to the fast pace of digital marketing and data science proved invaluable. Leaders who embrace new knowledge—whether it's AI, data analytics, or digital communication—gain a competitive edge.
Actionable Insight: Dedicate time each week to learn something new. Read industry journals, attend webinars, or take a course. Start with a "learning sprint" approach: focus on one area of interest and commit to learning about it intensively for a month.
Ask Yourself:
- When did I last learn a new skill or explore an unfamiliar area?
- How can I keep pace with technological advancements in my field, and what kind of opportunities can this open?
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#3. The Value of Collaboration and a People-Centric Approach
We often focus more on individual achievements in the business world. However, leadership thrives on collaboration, and my experience securing and delivering ERP and E-Business Projects at a leading IT Company taught me that teams accomplish far more than individuals. Working with diverse colleagues brings different perspectives, creativity, and problem-solving approaches. A people-centric approach doesn't mean being everyone's friend; It involves cultivating an atmosphere in which every individual feels appreciated and their voice is recognised.
"Alone we can do so little; together we can do so much."
Building relationships with your team, clients, and stakeholders is the foundation of any successful organisation. Embracing diversity and inclusion strengthens this foundation. Diverse teams are more innovative and adaptable, as they bring unique perspectives that one person alone cannot provide.
Actionable Insight: Foster collaboration by setting aside dedicated "listening hours." Make it a priority to hold regular weekly check-ins or open forums where team members can confidently share their ideas and concerns. Creating this space fosters open communication and collaboration within the team. Lead by example—show respect for every voice and encourage others to do the same.
Ask Yourself:
- How do I create an environment where everyone feels their input is valuable?
- Am I actively promoting diversity and inclusion in my organisation?
- How can we benefit from a Mastermind Approach?
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#4. Transitioning from a Fixed Mindset to a Growth Mindset
I learned that a critical difference between average and exceptional leaders often lies in their mindset. Leaders who have a fixed mindset usually avoid challenges because they fear failure and criticism. On the other hand, those with a growth mindset see challenges as opportunities to develop and learn. They understand that hard work and dedication can develop intelligence and skills. Shifting to a growth mindset when leading a multi-country business for an MNC transformed my own leadership style as I became more open to feedback and willing to take calculated risks. The importance of a growth mindset can encourage you to view challenges as opportunities for growth.
"The difference between average people and achieving people is their perception of and response to failure."
Embracing a growth mindset means viewing setbacks as part of the journey, not the end of it. This outlook fuels resilience and adaptability, essential qualities for navigating today's fast-paced business landscape.
Actionable Insight: Start a "growth journal." Each week, note down and reflect upon one area where you faced a challenge, how you approached it, and what you learned. Over time, this practice builds self-awareness and strengthens your growth mindset.
Ask Yourself:
- Am I willing to face criticism and learn from my mistakes?
- Do I encourage a growth mindset among my team members?
-What new doors can that open?
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#5. Finding Purpose and Aligning Values
The purpose is the compass that guides leaders through tough decisions. For me, finding purpose meant identifying what drives me beyond profit and recognition. Purposeful leaders inspire others, attract loyal clients, and build lasting organisations. If you align your values with your leadership style, you'll find that decisions become more apparent and attract people who share your vision.
"Purpose is a unifying statement of the commercial and social problems a business intends to profitably solve for its stakeholders...it succinctly communicates what a business is all about and who it's intended to benefit."
– Ranjay Gulati.
But purpose isn't just about your own vision; it's about connecting that vision to the larger goals of your organisation and your team. Acting on feedback from my direct reports, I took the time to prepare and deliver a 'context setting' talk when launching even the tiniest corporate initiative. I learned that this alignment fosters authenticity, builds trust, and motivates people to contribute their best efforts.
Actionable Insight: What do you want your leadership legacy to be? Define your purpose for all significant interactions in one sentence. Once you've written it down, please share it with your team and align your goals around it.
Ask Yourself:
- Is my leadership purpose clear, and am I acting on it daily?
- How can I align my values with my organisation's mission?
-How can I assist my team in aligning their values with our organisation's mission?
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Here’s the sixth insight I picked up while trying to embrace failure more!
Embracing Failures as Stepping Stones
Failures are often viewed as the enemy but essential to growth. My book, Achieving Success by Failing More, explores how embracing failure has transformed my perspective. Each failure was a lesson, a stepping stone to something bigger. Leaders who fear failure miss out on invaluable insights. Every setback in my career taught me how to adapt, innovate, and ultimately grow stronger. By normalising failure, we encourage our teams to take bold, innovative actions without fear of retribution.
"Develop success from failures. Discouragement and failure are two of the surest stepping stones to success."
Actionable Insight: Cultivate a "Fail Forward" culture. After each project, lead a debrief focused on what went well and didn't go as planned and what can be learned from it. This practice turns failures into learning opportunities, builds resilience, and empowers teams to take calculated risks.
Ask Yourself:
- Am I creating an environment where failure is viewed as a learning tool?
- How well do I encourage my team to learn and grow from setbacks?
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Leadership is a dynamic journey of growth and self-improvement; it is a path that always requires new insights and skills. I hope these insights resonate with you and inspire you on your unique path. Building resilience, remaining adaptable, prioritising collaboration, adopting a growth mindset, and staying true to your purpose are steps toward becoming an effective, inspiring leader. These are practices—not one-time actions—that you'll refine and evolve over time. As you walk this path, remember that the most valuable lesson is to lead with humility, knowing that there's always more to learn.
So, are you ready to redefine your leadership journey? Start with these insights, apply them consistently, and watch the transformation unfold.
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I write about leadership, technology, and startups and offer actionable advice for business owners during transitions. You can also connect with me on LinkedIn.