A single entrepreneurial success is a huge achievement. Sustaining–and growing that success–requires a different set of skills. You’ll need the same level of dedication, but managing your entrepreneurial success means making different kinds of decisions, shifting your perspective and focusing on the long term.
Complacency is the Enemy
Success provides comfort, and in some cases, the result is complacency or even arrogance. Both are dangerous! I’m not suggesting you shouldn’t feel confidence and pride in your accomplishments, but whether you score a contract for $100 or for $100,000,000, managing sustainable growth for your business is the most important goal. If you lose track of this, complacency can and will kill your future success.
Know when to grow and when to stabilize
So, your business just reached an important milestone. Fantastic! Take a moment to acknowledge your journey and the hard work of your team. But this also means you’ve arrived at a critical crossroads when you need to ask, “Where do we go from here?” Evaluating where you are in terms of where you want to go is difficult but necessary. If taking on more work seems impossible at the moment, stabilizing might be the best idea. If you have the capacity for a bigger workload, pushing through to the next milestone might serve your ultimate purpose better. Making the right choice at the right time is crucial to managing long-term success.
Stay True to Your Mission
When you’re considering your business infrastructure, sticking with what works—and not getting distracted by shiny objects—is always best. Staying current with best practices in your industry, or even pushing to innovate some of those practices yourself, is a different story. A successful company has to be flexible enough to respond to the changing needs of their ideal client without betraying the ultimate mission. Check in with your business statement regularly to make sure you’re not straying from your original intention as you evolve.
Success is what we all want. And when we reach our goal, we want to stay there. So be wary of complacency, make careful decisions about growth and honor your mission.
Need help maintaining your success? We’re here for you!