At the Collaborative Real Estate Summit, I outlined six leadership traits that have shaped my career. In earlier articles, I wrote about persistence, authenticity, and continuous improvement. In this latest article, I wanted to turn to a principle that is often uncomfortable, yet essential for growth: failing fast.
Why Failure Matters
It’s tempting to view failure as something to avoid at all costs, but the truth is, if you’re not failing, you’re probably not taking enough risks.
I like to use Michael Jordan as an example. He missed more than 9,000 shots in his career, lost 300 games, and failed 26 times when the game was on the line. Yet he is still remembered as one of the greatest athletes of all time, not despite those failures, but because of how he learned from them.
Failure, handled correctly, is a stepping stone. It’s not the end of your story but rather feedback on what doesn’t work, so you can find what does.
I’ve seen this play out firsthand, not only through my own career but also in my family’s experiences. One moment in particular stands out, when my son faced his own setback early in his career.
A Personal Lesson
My son, who followed me into real estate, failed the New Jersey licensing exam twice. He was discouraged, ready to give up and return to Pennsylvania, but I reminded him that he didn’t fail. He just found ways that didn’t work.
With some new strategies and persistence, he passed on his third attempt, and that experience reinforced a truth I’ve seen throughout my career. Failure isn’t final unless you let it be.
Although failure can be hurtful, it can teach us how to avoid the same mistakes in the future.
Learning From Setbacks
Legendary coach Dean Smith used an acronym for dealing with failure: R.A.L.F.—recognize it, admit it, learn from it, forget it.
I find myself using this acronym when I’m faced with failure, although I like to modify the last step slightly. I believe it’s important not to obsess over failure, but we can’t erase it either. Keep it in the back of your mind so when you see the same pattern again, you can take a different path.
Henry Ford said it best: “Failure is simply the opportunity to begin again, this time more intelligently.”
Failure teaches us how to adapt, but growth also requires risk-taking, as it allows us to build the confidence to keep moving forward.
Risk, Fear, and Growth
Risk-taking is like a muscle—it needs exercise. The more you practice stepping into uncertainty, the stronger your tolerance becomes. Fear, on the other hand, fades with repetition. Whether it’s public speaking, making a difficult call, or taking on a new challenge, the more often you face fear, the less power it has over you.
That’s why leaders must embrace both risk and failure. Success isn’t built by avoiding mistakes but by pushing forward, learning quickly, and adapting along the way.
A Challenge to You
The next time you face failure, pause and reframe it. Recognize it, admit it, learn from it, and then move forward smarter. Leadership isn’t about never falling short. It’s about turning setbacks into strength, failing fast, and using each stumble as fuel for future success.
