FAST COMPANY: WHat if you lost the competition for a senior job?

MATT PAESE: If you've lost a horse race for a job, I think you have to consider whether or not your goal is to have that job or that type of job or whether your goal is to advance your career and the contribution you want to make. There are a lot of senior leaders we've seen who have lost the horse race, so to speak, but have reinvented themselves as leaders, non-CEO leaders, who make as big or bigger contribution than the most visible person, the CEO, does, but in fact their roles, simply because of the way they've crafted them or reinvented their own contributions, have been bigger contributions than they might have imagined.