John Maxwell: Getting a Return on Your Failures
THE ED MYLETT SHOW Podcast Recap
Published:
Duration: 47 min
Guests: John Maxwell
Summary
Ed Mylett and John Maxwell discuss the concept of viewing failure as an asset and the potential for growth and learning it presents. John Maxwell introduces his new book, 'How to Get a Return on Failure,' which provides insights on transforming failure into a catalyst for success.
What Happened
John Maxwell, a prolific author with 100 books and 35 million copies sold, introduces his new book 'How to Get a Return on Failure: Fail Smarter, Return Stronger.' He advocates for a mindset shift, viewing failure as an opportunity for growth rather than a setback. Maxwell proposes a reframing of Robert Schuller's famous question, suggesting that even if failure is possible, it can be beneficial if approached as a learning experience.
Maxwell outlines his philosophy that success and failure should be seen as complementary, balancing humility and resilience. He believes in the importance of continuous learning and growth, with a personal practice of learning lunches with smarter individuals. This approach helps him maintain a perspective where there's no finish line in personal development.
The episode highlights Maxwell's belief in the significance of perspective, encapsulated in his saying, 'How we view things is how we do things.' He underscores that the way one responds to failure determines whether it's a 'good miss' or a 'bad miss' - with a 'good miss' leading to adjustments and improvements.
Maxwell emphasizes the importance of the 'law of the inner circle,' where the people closest to an individual significantly influence their level of success. This realization led him, at age 40, to focus more on developing his team as a means to achieve greater success.
The episode also touches on spiritual aspects, referencing the Bible's portrayal of its characters' failures, except for Joseph and Nehemiah. Maxwell draws parallels between these narratives and the concept of transformational growth, offering grace and forgiveness as essential components.
Maxwell concludes by stressing the value of wanting more for others than from them, a principle that guides his shift from competitiveness to fostering others' success. This approach aligns with his broader philosophy of respect and significance being earned on challenging grounds.
Key Insights
- John Maxwell's new book 'How to Get a Return on Failure' offers a fresh perspective on failure, suggesting it's an opportunity for growth if viewed correctly. He argues that failure should be seen as an asset that can drive personal and professional development.
- Maxwell believes in continuous learning and growth, evident in his monthly practice of having learning lunches with people smarter than him. This habit reflects his belief that there's no finish line in the journey of personal development.
- The 'law of the inner circle' is central to Maxwell's leadership philosophy, emphasizing that the people closest to an individual significantly influence their success. This insight led Maxwell to focus on team development to enhance overall success.
- Maxwell distinguishes between 'good misses' and 'bad misses' in failure, where a 'good miss' brings one closer to success through learning and adjustments, while a 'bad miss' involves making excuses and results in setbacks.