The Publicity of Failure (No, really; it's a good thing)

 I’m sure you’ve been reading all about the business lessons everyone is learning based on our troubled economy. That’s not a bad thing, because of course it means there’s an opportunity to leverage the publicity of failure. I know, failure is a strong word, but someone’s got to say it. But getting back to the opportunity. It’s amazing what can transpire when we admit our mistakes. Look at our president. I believe we must have seen him say, “I screwed up” about a bazillion times with one of his beleaguered cabinet nominations and it made for some great opportunities for those in the failure business.
    What do I mean by that? Business consultants, turn around/fix-it people, psychologists, and others who are poised to comment on other people’s failures. But it’s not just those who can offer their incredibly insightful observations but those of us, the regular folks, who can, without having to appear on Jerry Springer, share our mistakes and what we’ve learned.
    When times are good we tend to be too busy to listen to those who aren’t doing very well. We’re too focused on our own good fortune and don’t want to spare any time that could go back into our businesses. But, boom, when things start sliding south we seem to have a little more time on our hands.
    If you can help a company take the lessons being offered by the slow economy and publicize those lessons, consider adding that strategy to your publicity mix. One of the interesting aspects of what we’re living through is the human piece of everything. We’re not so put off by failure, because so many people are experiencing even just a piece of disappointment. Sure, most people will probably say, “I can do without the lesson . . . “ but those that are more likely to survive are the ones that embrace continuous learning and try to uncover at every possible juncture a lesson that can be applied to the future. What’s your client’s biggest mistake? Could others learn from them? If your client can glean a lesson from the tailspin we’re in, then surely someone else can.