Purpose: This article aims to reinterpret principal preparatory programs to also include the collective learning-from-success process (success-based learning), thus providing a complementary instructional framework on how to prepare principals for today's public school reality. Design/methodology/approach: The discussion reviews the core leadership capacities for today's and tomorrow's principalship and the need to rethink principal preparatory programs accordingly. The interrelationship between problems and learning is described, coupled with the possibilities and limitations of problem-based learning. Success-based learning is then described, enumerating its potentials and pitfalls. Findings: The paper finds that focusing on both learning from problems and learning from successes in leadership education may better develop prospective principals' leadership capacities necessary to lead schools in a dynamic environment. Originality/value: The paper highlights the need to conceptualize and empirically investigate problem-based learning and success-based learning as interrelated instructional frameworks that are both necessary to develop effective future leaders.