CEO of Amplified Success, Travis Waits, discusses how strategic planning for failure is in a companies best interest. All successful business have a strategic plan, outlining how they will meet their revenue objectives, as well as how organizational decisions will be made. The best companies also have plans in place for when challenges, problem’s, or failures occur. This is different than contingency planning.
When top leaders are not shocked by, but rather expect and plan for failure, in particular how they will respond to those occurance’s, it actually turns these failures into successful growth opportunities for the company, employees, leadership, and organization. Think of this as a redemption plan, that is developed ahead of time, in order to leverage any failure for the betterment of all involved.
As people are not perfect having this attitude, as well as tactical plan in place to strategically handle difficulties will increase the success of the company as a whole. People are valued, mistakes are corrected more quickly, customers needs get met more efficiently.
What is the “redemption plan” for your business?
How about, applying this to your leadership, what is the strategic redemption plan for your leadership?
For these and more tips, please subscribe to my video channel for future updates: