In business big companies fail, industry leaders toppled because they have failed to keep themselves relevant by believing that because they have reached No. 1 people will still keep coming to them no matter what. This is certainly not the case because once you reach the top the hard work of remaining there begins. Meaning that as an entrepreneur you cannot afford to be complacent once you become successful, there is always someone coming up behind, and now more than ever at a quicker pace, and sadly others wanting to see you fail.
So don’t get complacent by believing in your hype because that can change in a heartbeat. Believe instead in the work you need to do to stay successful and keep working at maintaining that.
You can avoid complacency by:
- Listening to what is being said about you. If it is praise ensure you do what you need to do to maintain it, if is criticism work to address and improve the issue.
- Answering questions openly and honestly, evasiveness makes you distrustful like you have something to hide.
- Not taking your customers or audience for granted.
- Regularly conducting market research. Have your customer demographics changed if so why; what are the new trends that could threaten your business and how can you adapt or embrace them to keep you relevant.
- Knowing what your competitors are up to. Have they introduced new products, are they struggling if so why? Knowing this could be indicators of opportunities or problems affecting your sector enabling you to respond and position your business accordingly.
The uncertainty we are currently facing means that in our personal and entrepreneurial lives we cannot afford to be complacent.
Keep testing, keeping trying, keep innovating.