Failure is often seen as something to avoid, but leadership expert and keynote speaker Dr. Margie Warrell argues that learning to “fail well” is essential for growth. In her latest book, The Courage Gap: Five Steps to Braver Action, she explores how embracing setbacks can empower individuals to take bolder risks and achieve greater success. In today’s episode of The Small Business Show, she discusses why failure should be seen as a learning tool rather than a personal defeat.
Dr. Warrell emphasizes that the fear of failure prevents many people from taking the necessary risks that lead to success. She explains that failing well means extracting valuable lessons from setbacks, brushing off disappointments, and using those insights to move forward smarter. She highlights how high achievers, including business leaders like Bill Marriott and Richard Branson, don’t avoid failure but instead use it as a stepping stone.
One key mistake people make is over-personalizing failure, seeing it as a reflection of their worth rather than an event from which to learn. Others take the opposite approach—ignoring their missteps and failing to analyze what went wrong. According to Dr. Warrell, the best path lies in acknowledging mistakes with humility and using them as opportunities for self-improvement. She cites an example of a Microsoft executive who publicly admitted a misstep and demonstrated leadership by taking full responsibility, a move that ultimately built trust.
Research shows that the more successful individuals become, the more reluctant they are to admit failure, fearing it will tarnish their reputation. However, Dr. Warrell argues that owning up to mistakes actually enhances credibility and strengthens relationships. She likens this to a restaurant’s service recovery. When an establishment handles an error well, customer trust often increases rather than diminishes.
For those looking to change their mindset about failure, Dr. Warrell suggests reflecting on past failures and forgiving oneself for mistakes made due to lack of experience or knowledge. This self-compassion, she believes, frees individuals to take the bold actions necessary for personal and professional growth.
"Failure is an event, it's not a person. What is it that we can learn from failure so that we can move forward a little bit smarter than we were before?" – Dr. Margie Warrell
