Why are so many fearful of failure? It is inevitable. Is there a need for a new narrative around failure?

Many will rightly state that the growth in understanding of mental health issues has been a positive step forward over the last ten years. However, it is still spoken of in negative terms – the high levels of anxiety and stress which lie within most of us; the fear of failure which hinders many.

It is all true but the narrative needs still become more focused and positive. Anxiety and stress are all natural parts of a journey but can be overhyped.

The narrative regarding so much of the above needs to be calmer, more understanding, and placed into perspective. There is research which states that the greatest fear for 90% of CEOs is of failure. Fearing failure is natural and goes with the territory of the job. It is often a strong motivating factor. The bigger question is why is it the greatest fear?

Why is failure such a concern for many? Failure is an inevitability and the fear of failure often will lead to poor calls. Back in the early 00s, there was a senior industry player who noted that most top CEOs reduced a focus on culture and people because it was a cost which could easily be cut, and the only factor which determined success or failure was shareholder return. The question is whether this was a failure of leadership?

Still why the fear? Has a society of overhyped fears been created?

There needs to be a stronger, more positive narrative found. Failure should be as defining as many do fear. It is often argued that younger talents struggle because of the transparency of social media. This is understandable but the real challenge surely is found in how one handles their own moment of failure. If failure is such a concern then, of course, fewer people will take risks, will challenge, and go out on a limb. How does this help business, society, and culture? All thrive on the entrepreneur, the artist who challenges, the maverick.

The challenge is that there is a need to train many to be able to calmly face adversity and failure and not be frightened of it. This does all return us to where this piece began – mental health or mental development. The task is to help develop the learning and mind that failure is no bad thing in itself. It is all part of the journey. Ask any CEO and they will say that they have failed as often as they have succeeded; probably more often. The question is how one handles failure.

Sir Alex Ferguson notes that he failed in his playing career more than he desired. It drove him to become the great manager he was and his failure even stood behind his understanding of why it was so important to develop young talent, the class of 92 being a shining example.

There are many who argue that the fear of failure has increased in recent years. Maybe but unlikely. Society has overall become kinder and more compassionate. History will show many cases which have been far worse. Where things do need to improve is the often harsh judgment that many hold over those who have failed. It has always been ridiculous.

There is an old story about the CEO of Coke who, after the failure of the new launch of New Coke, was asked “ Will you now fire your product and marketing directors?”

The CEO simply responded: “Why? They have just learnt their most valuable lessons”.