Experience is often thought to mitigate the risk of failure, but research shows that experience alone doesn't guarantee superior performance. What really matters is how well you learn from those experiences. The ability to learn, not just the experience itself, is the true differentiator.
So, how can leaders turn mistakes into performance improvements?
Adopt a Growth Mindset
Your mindset plays a huge role in how you approach challenges. Stanford psychologist Carol Dweck’s research shows that success isn’t just about ability but also about the beliefs you bring to the table. With a growth mindset, you believe that stretching yourself will ultimately improve your abilities, viewing mistakes as valuable tools for growth. In contrast, a fixed mindset leads you to avoid challenges that might expose weaknesses, stunting growth.
As a leader, the pressure to succeed can push you toward a fixed mindset. But the culture you create matters. Are your team members rewarded for taking calculated risks, even if they fail? Or are they only celebrated for success? This will shape their approach to challenges.
Seek and Embrace Feedback
In the rush of day-to-day operations, leaders often don’t take the time to reflect on their actions. But seeking and analysing feedback—both positive and negative—is crucial for growth. Top performers use feedback to adjust and improve, whereas those who focus only on their successes may struggle to advance.
However, feedback can be difficult to process objectively. We often look for evidence that supports what we already believe, a tendency known as "confirmation bias." To overcome this, leaders need to develop the skill of constructive reflection, allowing them to objectively evaluate their performance and identify areas for improvement.
Be Prepared to Feel Incompetent
Improving your performance means trying out new strategies, which can feel uncomfortable. Swedish psychologist Anders Ericsson’s research shows that deliberate practice is necessary for professional growth. For leaders, this often means making changes on the job, even if it feels awkward at first.
Once leaders develop effective strategies for learning from their experiences, their growth accelerates. Those who master skills like reflection, adaptation, and self-monitoring will outpace those relying solely on experience, as the fast pace of change quickly renders old knowledge outdated.
When leaders effectively learn from their experiences, their development accelerates. Those who get good at reflecting, planning, and adapting will advance the quickest, even outpacing those with more knowledge or experience, as change can make that knowledge outdated.
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