AT the end of each year, I habitually do "what have I learnt" exercise with myself, and with my team.
If we keep focused on a growth trajectory, each year will bring it's own special set of challenges. This is a natural occurrence, especially if you venture into areas that are new. Life is nothing if not fraught with uncertainties and tribulations.
But, for those people who are steadfast and invested in exploring new opportunities, learning from these challenges will provide the necessary way forward for the coming 12 months.
So, I suggest we all take stock and set up some goals for 2025. Don't simply fall into the "New Year's resolution" trap. You know, where you earnestly resolve to do things differently but within weeks, flip back to your old ways.
Rather, focus deliberately on yourself and figure out what was emotionally tough for you, when navigating 2024.
For me, it has been so challenging with financial difficulties in managing my businesses, as I have gone into an expansion phase. And, most of all I have faced deep disappointments with people I trusted and depended on most, who turned on me.
So, instead of simply making resolutions, I have decided to focus on the one significant learning lesson that I have had from the past year.
This year, for me, it is all about the power of accepting disappointment, and learning to bounce back.
As a management consultant and leadership coach, I come across numerous industry leaders who take active and strategic measures to turn the sting of failure into the reward of growth.
They successfully take setbacks, and find ways to quickly move past self-judgment and blame. These champions actually embrace failure, and eventually fly past their competitors. And it doesn't matter whether they build a business, advance in their career, or improve their personal life. Theirs is a mentality of unstoppable growth.
I realise they all have three very important skillsets that help them do this. And this is my learning, or rather "re-learning" for 2024.
The first thing to do is to really separate failure from their inherent happiness.
In my training programmes, I have said numerous times that success is just getting what you want. But happiness, on the other hand, comes when you become truly grateful for everything you have. Most people tend to forget this very poignant principle of life.
Every time you fail at something, needless to say, it leads to sadness and frustration. This is fine, but discipline yourself to only let that disappointment linger on for a day or two. If you continuously wallow in self-pity or become fearful of failure, you will be incapable of bouncing back.
If you continue to equate your happiness to the successes you gain, you will begin to measure your worth as a person only with this yardstick. You need to remind yourself that you are not a loser if you fail in one or two businesses, or if you have got fired from your job.
The people I meet, who habitually rise from setbacks, are incredibly resilient. They see their self-worth by their ability to keep trying, rather than giving up. And, they know that while they may not be good at one thing, they realise that this doesn't mean that they are useless at everything.
This is a vital skill I have reminded myself of, this past year.
Next, I realise that I must not succumb to lingering procrastination.
You have all met that person who is waiting for "the stars to be aligned" for the perfect opportunity to do something. There is always that better time, or less risky period to act. I realise that this is just procrastination disguising itself as the fear of failure.
Whether you are seeking to build a business or advance in your career, you cannot succeed without starting somewhere. You just need to reframe your mind to view any potential failure as an indicator to course-correct. This is in the persona of every accomplished person I have ever met.
Through this last year of challenges, I had to cast off my distress of the unknown and boldly go where I have never ventured before. It is this ability to conquer my inherent tendency to procrastinate or delay action, which brought some semblance of stability.
And, the third lesson I revisited was to embrace the idea that I will always be fearful of the unknown, but yet, I need the courage to not let this anxiety debilitate me.
Fear incapacitates many people. When this happens, you lose the ability to make decisions, because you are apprehensive about failing. This results in lost opportunities. By avoiding decision-making, you don't get to explore your leadership or managerial skills. And ultimately, every decision you finally make, simply increases your own self-doubt.
In situations where the stakes are high, information is scarce, and the environment uncertain, break decisions down to smaller and manageable steps. Then become wiser with each step's success or failure. This is how you surmount the fear of failure.
Only if you take stock, and do a deep dive into your own actions over the past year, will you learn from your own successes and failures. This will definitely lead you to strategically become wiser in 2025.
What is your learning from 2024?