The Meaning of Failure

It's always interesting to read about, talk with, and learn from CEOs and leaders in various industries. Many of the challenges they face are no different than the ones faced by you and I every day - often times they only differ in magnitude. The strategies, perspectives and ideas they have are often helpful to those pursuing a greater leadership legacy in their own life.

For example, in a previous issue of Fortune magazine, the author asked two CEOs and one business consultant about failure and what it means to them. Four goods points:

1. You can be tolerant of failure, but not of mediocrity and incompetence. Incompetence is a lack of commitment to excellence.

2. Failure is a motivator. Thomas Edison achieved his great success through repeated failure.

3. Give people who have failed another chance. Give them more resources or the opportunity to institutionalize what they've learned.

4. The only way to come up with a breakthrough is to take bigger risks.

The final point echos a point made by Richard J. Machowicz in his book: Unleash the Warrior Within.

It’s not until you risk it all and go for the thing you really want that life becomes unlimited. All the shackles are released.