Tuesday, December 22, 2009

How to Fail Forward

I've never heard of failing forward, but I like the idea of anything that makes me feel better when I fail at something. Today sales trainer Tom Reilly shares how you can find power in failure and use it to your advantage. There is a right way to fail and a wrong way to fail. The one thing you do not want to fail at is failure. Consider the following:

--In a study of more then 1,000 successful people, the researchers found that successful people failed more than twice as often as less successful people.

--In our Best Sales Practices Study, we found that top-achieving salespeople do not quit on a piece of business until they receive on average 5.3 rejections from the customer. The rest of the sales population quites after 3.7 rejections.

--Michael Jordan said this about failure: "I've missed more than 9,000 shots in my career. I've lost almost 300 games. Twenty-six times, I've been trusted to take the game-winning shot and missed. I've failed over and over again in my life and that is why I succeed."

Here are some tips for failing forward - extracting value from failure:

--Always view failure in the short term and success in the long term. You are on a path of long-term success, littered with short-term failures.

--The sale is never over until you or the customer call it quits. Sometimes, the customer may quit before you do, but don't let that slow you down.

--Treat failure as feedback. It teaches you what not to do. If you quit too early, you lose the benefit of learning what did not work.

--Failure holds no power over humility. A humble person says, "Look what I learned."

--Feel the sting of defeat and use it positively to prepare for your next opportunity.

Failure need not be final. It need not describe you as a person. It is commentary on your outcome in a specific area.

Tom Reilly is the president of Tom Reilly Training. He is an authority on value-added selling, and speaks to thousands of salespeople and managers annually on increasing their value to their company and customers.

3 comments:

Unknown said...

Great article – I love the concept of learning from our failures and especially the tip regarding treating failures as feedback. There’s no better way to learn what works than finding out what doesn’t. Of course, some preparation beforehand always comes in handy when closing deals.

There are a lot of great tools that can help in this preparation – giving salespeople all the information they need to manage opportunities and make that sale. The key is using this data wisely to make informed decisions – having a wealth of data isn’t enough – it must be sorted and qualified to be as useful and effective as possible.

Editor: Ashley Sonnentag said...

So true Daniel - thanks for pointing out that you need quality data and information to make the sale in the first place. And, if it doesn't work out, you'll have more to work with when trying to figure out what went wrong.

Anonymous said...

Keep posting stuff like this i really like it.