Learning Moments

Learning from success is as important as learning from failure

Next time you’re at a networking event or industry trade show, look around. Who are the most vibrant people in the room? Chances are, they’re the ones who keep learning throughout their lives—the ones who always have something interesting to say about their discoveries. And, perhaps not surprisingly, the same goes for businesses.

Our friend John Gerzema, in his 2008 marketing blockbuster, The Brand Bubble, tells us that what sets great brands apart, too, is their ability to evolve. To maintain their leadership and positive momentum, brands have to keep learning, evolving and growing.

Gerzema, the chief insights officer for Young & Rubicam, doesn’t mince words. “Today, brands are in peril if they stand still,” he writes. “We analyze the new consumer behaviors, expectations and mind-set…which demand that brands embrace speed, openness and a commitment to constant change.”

So, how would you rate your company at actively seeking out lessons from the marketplace and applying them? Many, many companies deal with success and failure daily, but how often do they learn from them? Not nearly enough, it’s likely.

When we fail, do we determine why, or do we merely conduct a witch hunt? Do we own up and learn from the experience, or do we point fingers elsewhere? The great performers, companies and brands all learn and evolve from those results.

The more difficult, and probably more important, question is, do we learn from our successes? Why did that project turn out better this year than last? Do we know? (Was it just a one-time stroke of luck, or is there a more systemic truth we can extract?)  Sure, it’s harder to sit down and do a careful analysis than it is to simply pat ourselves on the back and say, “We're great.” But what makes it hard is also what makes it more valuable to your company and its positive momentum.

Maybe the reason we avoid a deep understanding of why we have succeeded is because we want to also avoid the discomfort of facing those times when we have failed.

Fight just as hard to seek the answers as to why you succeeded as you do why you failed, and you may become that great company, performer or brand. What you learn can make all the difference in your success.

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