In order to win in business, you"need to be prepared to lose," McLaren CEO says

McLaren Racing boss Zak Brown describes how in order to win in business, you "need to be prepared to lose."

Transcript

00:00 I think in order to win, you need to be prepared to lose

00:03 and be good at losing.

00:05 And what do I mean by that?

00:07 Because no one likes to lose is understanding learning.

00:10 So as I say in the back of the factory,

00:13 mistakes are okay, don't make the same one twice.

00:16 And I think often you learn as much from not succeeding

00:19 as you do succeeding.

00:20 So everything's a learning experience,

00:23 but you need to be learning.

00:24 So I think in order to win,

00:27 you need to have pretty thick skin.

00:29 You need to be able to get right back on that horse

00:31 as the saying goes, 'cause you, in our business,

00:34 there's only one winner at a weekend.

00:36 So you unfortunately are losing more than you're winning.

00:39 And therefore you need that to also be something

00:41 that drives you forward.

00:43 You need to know how to give good feedback.

00:46 You need to learn how to receive feedback,

00:50 whether that's good feedback or constructive criticism,

00:53 and put all that to work to just go out

00:55 and try and make incremental improvements

00:57 Every time you wake up every day, how can I move forward?