How to learn from failure and quit the blame game | Alisa Cohn | Big Think | Summary and Q&A

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August 24, 2018
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Big Think
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How to learn from failure and quit the blame game | Alisa Cohn | Big Think

TL;DR

Bad things are inevitable in any company, but the key is to use them as learning opportunities to improve operations, establish new procedures, and create a positive mindset for the future.

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Key Insights

  • 🏛️ Problems are inevitable in the course of building a company.
  • ♻️ Reacting to problems by creating a learning environment is crucial for growth and improvement.
  • 🫚 Understanding the "Why" behind a problem helps identify the root causes and implement effective solutions.
  • ▶️ Emotional resilience and a positive mindset are essential for moving forward and seizing future opportunities.

Transcript

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Questions & Answers

Q: How should a company react to unexpected problems?

When facing unexpected problems, it is important to gather everyone together and create an environment where blame is not placed. This allows for a thorough understanding of what went wrong and why, leading to effective problem-solving.

Q: What is the significance of understanding the "Why" behind a problem?

The "Why" reveals the underlying causes of a problem, allowing for targeted interventions and improvements. By asking a series of "Why" questions, a company can uncover issues such as communication gaps, inadequate planning, or lack of ownership.

Q: How can a company address the emotional impact of a problem?

Moving on emotionally requires acknowledging that the problem is in the past and focusing on the future. The CEO and the team need to create a new point of view and embrace the potential for growth and improvement.

Q: What are some common interventions that can improve operations?

Tightening up processes, establishing better timelines for deliverables, and ensuring one person is responsible for the overall project are interventions that can lead to excellence in operations.

Summary & Key Takeaways

  • Building a company involves encountering problems and setbacks.

  • Reacting to these issues by using them as a learning lab and understanding the systems that led to the problem is essential.

  • Moving forward, it is important to establish new procedures, policies, and ways of thinking, while also addressing the emotional impact and creating a new perspective for the team.

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