Accountability Leadership Style Risk & Resilience

Fail Fast

Vy Tran

09.07.23

Vy believes that true leadership is defined not only by your success, but also by how you manage your failures. Hear her explain why it's important to “fail fast” and have a “Plan B” in place.

Summary:

Vy believes that true leadership is defined not only by your success, but also by how you manage your failures. Hear her explain why it’s important to “fail fast” and have a “Plan B” in place.

Thuy

So, we know of your many successes because you’re now Chief Compliance Officer, but let’s dig deeper into that. Have you had a risk where you did fail and how did you overcome it? How did you build the resilience to overcome a failure?
Vy_Tran

Vy Tran

You know, throughout my career, there've been lots of failures. And it’s really about how you manage those failures, right. So, are you going to let that, the failures, take you down? Are you going to let the teams feel that you sense the failures? There’s so much success in your career—it is about managing failures. It’s not about managing success. It’s not about how you celebrate the successes. That’s great too. But the real leadership comes into how you manage failures.
And I go back to, you’ve just got to fail fast. You’ve got to get right back up there. You cannot show the folks around you that you are feeling insecure or you feel that you can’t get back up. You’ve got to demonstrate to those around you that you’ve got a plan B. Okay, we failed. Let’s go to plan B. We talked about this. Let’s go back to the drawing board if we don’t have a plan B and get right back up there. Because everybody can sense the energy you’re putting out.
And if that energy is calm, it’s cool, it’s deliberate, those are the moments where real leadership can arise and again, guide the teams in the biggest crises that the organization can face. And in our case, it was, you know, really challenging compliance issues. We had some big problems that we were able to solve through rallying the team, that’s what’s really important, the ability to rally the team.