Secrets of bouncing back

What enables some leaders from Winston Churchill to Bill Clinton to Martha Stewart to bounce back from failure and go on to further successes?

by Director Magazine
Last Updated: 23 Jul 2013

There are four key points to take into account when trying to figure this out:

1. It is critical not to get too emotional about the experience of failure, and allow your feelings of betrayal and anger to get the better of you. This draws you into an emotional whirlpool.

2. Some people are simply not cut out for it and will feel like they have lost control of the situation when bad things happen to them. It is likely that these more sensitive souls will have been weeded out before rising to higher levels of management.

3. Having a hinterland can be very helpful. If work has crumbled around you, you will still have family, friends and hobbies for instance. A study of the effect of the break-up of US telco Bell Systems in the 1980s revealed that staff with strong family support fared better.

4. One can view failure as an opportunity to re-group, re-energise and go on to greater things.

Those business leaders who have fallen flat on their faces should make sure they get out a lot and don't stay indoors hiding from the world. They should go to conferences, networking events and headhunters. All of this should help to rebuild their confidence and give them pointers to future opportunities. Second, they should use the time to do some hard self-analysis in an attempt to understand what went wrong, pinpoint their strengths and identify the best route forward.

Source:
How to survive a scandal
By Widget Finn
Director Magazine, July 2007
Review by Morice Mendoza

Find this article useful?

Get more great articles like this in your inbox every lunchtime

C-Suite parents share working at home tips

For many people, the home office is now also a home school.

How to manage remote teams (without becoming a Zoom pest)

Briefing: Former Waitrose boss Mark Price says managers will need to think about how they’re...

Could coronavirus lead to gender equality?

Opinion: Enforced home-working and home-schooling could change the lives of working women, and the business...

Mike Ashley: Does it matter if the public hates you right now?

The Sports Direct founder’s response to the COVID-19 pandemic has drawn criticism, but in the...

4 films to keep you sane during the coronavirus lockdown

Cirrus CEO Simon Hayward shares some choices to put things in perspective.

Pandemic ends public love affair with Richard Branson et al

Opinion: The larger-than-life corporate mavericks who rose to prominence in the 80s and 90s suddenly...