From setback to summit: Business lessons from a failed climb

The first step backward.

There's a moment on every mountain when you have to decide to either push forward or turn back. For an A-type personality like me, who is driven, goal-oriented, and relentlessly focused on outcomes and impact, turning back feels like failure. But last year, on the icy slopes of Mt. Andromeda in British Columbia, Canada, that's precisely what I did with my teammate.

The snowpack was loose, the avalanche risk was high, and the mountain was whispering warnings we couldn't ignore. We made the call to retreat. It was the right decision. Rational, risk-based, and rooted in safety. But it stung. I had trained, studied the route, and visualized the summit. And yet, we walked away. What I didn't realize then was that this "failure" like in business would become a valuable learning, not just as a mountaineer, but as a business leader and client-serving professional.

The mountain doesn't care about your ego.

Mt. Andromeda is a stunning peak in the Columbia Icefield, known for its beauty and brutality, recently taking the lives of two climbers in 2021. Last year, we underestimated one critical factor. The weather. We chose a line that was popular but super exposed, and we didn't give ourselves enough time to adapt to changing conditions, including heavy snowfall. When the snowpack began to accumulate, and the risk of avalanche became too great, so we had to make a difficult decision.

That decision reminded me of something I've seen time and again in business: the danger of sticking to a plan simply because it's the plan. Kodak, once a titan of photography, clung to film even as digital technology surged from the outside in. They had the innovation in-house and even considered and studied the emergence of digital photography as a potential strategic investment but failed to pivot. The result? Bankruptcy in 2012.

Like Kodak, we had the tools, but we were on the wrong path. And the mountain, like the market, doesn't care about your intentions. It only responds to your actions.

Failure, when embraced, becomes a strategic asset.

This year, we came back smarter. We studied the mountain with fresh eyes. We chose a different route (NW Bowl) that was less exposed, more technical, but safer. We gave ourselves more time, built-in flexibility for weather, and carried the humility of last year's retreat in our packs. And this time, we made it.

Standing on the summit, I realized that the lessons we learned in failure were more powerful than anything success could have taught us. As Henry Ford once said, "Failure is simply the opportunity to begin again, this time more intelligently."

In business, this principle is gold. Consider Airbnb, whose founders were broke in 2008. They were rejected by investors and had to sell cereal boxes to stay afloat. However, they learned from every misstep, refining their pitch, enhancing their platform, and gaining a deeper understanding of their users. Today, Airbnb is a multi-billion-dollar company that redefined travel as we know it.

It turns out there's a reason failure teaches us more than success. Our brains are wired that way. Neuroscientific research published in the Journal of Affectivity & Learning shows that failure, primarily when emotionally charged, activates deeper cognitive processing and memory formation, more than success does. This is due to a phenomenon called neuroplasticity, where the brain strengthens new connections in response to unexpected outcomes.

However, there's a catch: we only learn if we're willing to reflect. A 2024 study from the University of Chicago found that people often avoid learning from failure because it feels threatening to the self. However, when we reframe failure as feedback, and not judgment, we unlock its full potential. That's what we did on Mt. Andromeda. And that's what great leaders and companies do every day.

Risk management: The overlooked superpower.

Turning back last year wasn't a weakness; it was a strength. It was a calculated, risk-based decision that prioritized long-term success over short-term glory. In business, this kind of thinking is often undervalued.

Take SpaceX. Their early rocket launches failed spectacularly. But each failure was dissected, studied, and used to improve. Elon Musk famously said, "Failure is an option here. If things are not failing, you are not innovating." Today, SpaceX lands rockets on floating platforms in the ocean and catches them with pincer-like structures on land.

As I describe in my latest strategy book, Outside In, Inside Out – Unleashing the Power of Business Strategy in Times of Market Uncertainty, risk management isn't about avoiding risk but about understanding it, preparing for it, and knowing when to pivot. That's what we did on Andromeda, and that's what great companies do from the inside out every day.

Adaptability is the new competitive advantage.

One of the most significant changes we made on the mountain this year was a shift in our mindset. We didn't just plan; we planned to adapt. We watched the weather closely, adjusted our pace, and remained open to changing conditions. That flexibility made all the difference.

In business, adaptability is the new competitive advantage, particularly in a world fueled by outside-in risk and uncertainty. Netflix started as a DVD rental service. When streaming emerged, they didn't cling to the past, but they pivoted. Today, they're a global entertainment powerhouse.

The mountain taught us that rigidity is dangerous. Conditions change. Markets shift. The winners aren't the ones with the best plan, but they're the ones who can change the plan when it matters most.

The power of the second attempt.

There's something uniquely powerful about coming back. The second attempt carries the weight of experience, the clarity of hindsight, and the fire of unfinished business. This year, every step felt more intentional. We knew the terrain. We respected the risks. We moved with purpose. And when we reached the summit, it wasn't just a victory. It was a redemption.

In business, second attempts often lead to greatness. Consider Apple. In the 1990s, they were floundering and then Steve Jobs returned, bringing with him a new vision. The iMac, iPod, and iPhone. Each was a second attempt at relevance. And each changed the world. The first try teaches you what doesn't work. The second try shows you who you've become.

As I stood on the summit of Mt. Andromeda, breathing in the thin, cold air and looking out over the endless expanse of ice and sky, I realized something profound: the summit isn't the end. It's a moment, a beautiful, fleeting moment, but the real value lies in the journey, the struggle, the learning.

In business, as in mountaineering, success is never guaranteed. But growth is. If you're willing to learn from failure, adapt to change, and continue climbing, you'll find your summit, whatever it may be.

So, here's what I leave you with. Whether you're scaling a mountain, shaping your career or building a business, remember: the path to the top is rarely straightforward. But every setback is a step forward if you choose to learn from it.

Keep climbing!

By Dr. Lance Mortlock – Strategist, Adjunct Associate Professor & Author of Outside In, Inside Out – Unleashing the Power of Business Strategy in Times of Market Uncertainty