We all experienced failure in something at least once. So, in this Expert Insight Interview, Todd Palmer discusses a four steps formula for how business leaders can turn failure into success. Todd Palmer is a retired CEO who is now a keynote speaker, author, and coach to entrepreneurial CEOs and business leaders on mindset and business growth.
The interview discusses:
- How to recognize your mindset
- How to create an intention, strategy, and keep an open mind
Recognize Your Mindset
Pandemic happened, and it turned life upside down for so many people. It is normal to have a brief period to feel bad and sorry for yourself, but then at some point, you have to recognize the situation and retake control of it. By taking responsibility for your current situation, you are empowering yourself to make a new decision and to change your situation. When the brutal reality hits you, that is a defining moment to transform today’s failure to future success. However, your idea of success might have changed, so you have to redefine it. At some point, it might have been to grow your revenue to a certain amount, but now it might be to keep your business going.
Create Intention and Strategy
The second step, creating an intention, means finding a solution to the current situation, but not expecting that there is only one way to it. Instead, create a strategy around that intention, which is also a third step in the process. This strategy should determine where you want to be in the future and how you are going to get there. And the last step is to be open minded to try many different things which will eventually lead to the right path. If one alternative fails, celebrate that fail as a lesson and progress that you have made for later success.
Moreover, our daily self-talk has more negative thoughts than positive ones. For some reason, people like to focus more on the negative things than on the positive. For example, during a performance evaluation meeting, a manager would list the good things about an employee and then spend the majority of the time talking about fixing negatives. Instead, let’s focus on our strengths rather than on our weaknesses. We all have skills and abilities that are unique to us. The key is in changing the perspective. So, instead of thinking about how average we are, we should embrace our authenticity and leverage our strengths.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.