{"id":2698,"date":"2017-04-28T20:45:11","date_gmt":"2017-04-28T20:45:11","guid":{"rendered":"https:\/\/www.openbusinesscouncil.org\/?p=2698"},"modified":"2020-02-27T09:31:58","modified_gmt":"2020-02-27T09:31:58","slug":"things-going-well-business-avoid-icarus-syndrome","status":"publish","type":"post","link":"https:\/\/www.footballthink.com\/things-going-well-business-avoid-icarus-syndrome\/","title":{"rendered":"So, Things Are Going Well for Your Business? Avoid the Icarus Syndrome"},"content":{"rendered":"
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Job Office Company Professional Business Corporate Image source: http:\/\/maxpixel.freegreatpicture.com\/<\/figcaption><\/figure>\n

When things are going well for your business, it\u2019s easy for overconfidence and even arrogance to start setting in. This will end up having a detrimental effect on your business in the long-term, and that\u2019s why it\u2019s something that should definitely be avoided if you can help it. Staying level-headed and focused on the tasks at hand will always be very important in the world of business.<\/p>\n

Your business will only experience more and more problems if you fail to take this issue seriously. It\u2019s not worth letting things slide just because you allow your overconfidence to get the better of you. In the end, it will make you and everyone associated with your business look very stupid, and I\u2019m sure that\u2019s not what you want at all. It\u2019s known as the Icarus syndrome because the Icarus tale tells of a boy who learned to fly, but got too confident and flew too close to the sun. To avoid the same happening to your business, take these steps.<\/p>\n

Don\u2019t Forget the Business\u2019s Origins<\/b><\/p>\n

One of the best ways to not get too overconfident or arrogant is to focus on where your business came from<\/a>. Every business starts small, and you need to remember that it could shrink back to that size in the future if you\u2019re not careful. You can\u2019t just assume that you\u2019re going to be successful forever. And by keeping in mind your business\u2019s origins, you will be more wary of letting yourself become complacent about where your business goes next. Just as businesses can find success and grow, they can also fall on hard times and tumble.<\/p>\n

Never Take a Customer for Granted<\/b><\/p>\n

Once you start taking your customers for granted, your business is in trouble. You will never get far if your customers don\u2019t feel like they are being appreciated properly. Don\u2019t allow yourself to fall into that kind of trap because it can be pretty hard to get out of. Every single customer that buys from your business <\/a> is an individual, and it\u2019s vital to remember that. If you keep that in mind, you should be able to keep treating your customers right and never taking them for granted. They\u2019re not faceless numbers on a spreadsheet; they\u2019re people that have to be won over repeatedly and appreciated.<\/p>\n

Treat Your Employees Right<\/b><\/p>\n

Your employees are the most important asset your business has. If they don\u2019t do great work, your business won\u2019t be great either. So, when your business starts to do well, you need to make sure that everyone shares in the rewards. This makes them feel like a part of the business rather than just another cog in the machine. Pass on pay rises when your profits rise. In the end, this will work out well for everyone because your employees will be more motivated to work hard. Ellis Whittam provides legal support for employment law issues. This might also be important when it comes to hiring and firing in the right way.<\/p>\n

Slow Down a Little<\/b><\/p>\n

Slowing down a bit is really important when your business is constantly moving forward. It can be tricky to take stock of what\u2019s going on around you when you don\u2019t slow down and smell the roses. Motoring forward at an extraordinary rate is not always a good thing. Slow and steady often wins the race. And if your business goes too fast and burns too brightly, it all might start to fall apart and go wrong too soon. What I\u2019m talking about here all comes down to the issue of sustainability. If your business doesn\u2019t grow in a sustainable way, that growth <\/a> will be weak and potentially hollow.<\/p>\n

Understand That Confidence Has Its Particular Place<\/b><\/p>\n

It might sound like I\u2019m telling you to worry more and stop being so confident. That’s not exactly true, though. You just need to be aware that confidence has its place. There is nothing wrong with being confident if you are acting that way in the right context and at the right time. If you come across as brash and arrogant, customers won’t like that one bit. And overconfidence has a way of catching up with businesses and making their owners and managers look a bit silly. That\u2019s what you should want to avoid.<\/p>\n

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Image source Pexels<\/figcaption><\/figure>\n

Keep Learning New Things<\/b><\/p>\n

You should never want to stop learning new things as an entrepreneur. Your business is never going to be perfect. And overconfidence can make people think that their company is infallible and can never be beaten. That\u2019s simply not true, though. If you allow things to stagnate and you stop worrying about learning new things, those gaps in your knowledge will start to be exploited by the competition. That\u2019s why you always need to be on the lookout for new ideas that you can take advantage of in order to improve your company.<\/p>\n

Mix Things Up Constantly<\/b><\/p>\n

Mixing things up is really important if you want to stay on top form as long as possible. It\u2019s tempting to keep things how they are when you\u2019ve found a winning formula. That makes sense, right? Well, actually, it doesn\u2019t. When you get too comfortable with your current formula, your ambitions can drop and you start to rely on it too heavily. Sooner or later, that formula will stop working for your company, and you\u2019ll be forced to look for an alternative way forward. It\u2019s much better to mix things up on your own terms rather than being forced into it as things fall apart.<\/p>\n

Stop Celebrating Short-Term Successes<\/b><\/p>\n

Finally, you need to stop celebrating those successes that are solely short-term. The short-term is never as important as the long-term when we\u2019re talking about the world of business. What\u2019s happening now is not nearly as important as the overall direction in which your business is going. If you want to make sure that your company sticks around for many years yet, you need to have a long-term plan that sees constant progress and development. That\u2019s the only positive and sustainable way forward.<\/p>\n

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Image source Pixabay<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

When things are going well for your business, it\u2019s easy for overconfidence and even arrogance to start setting in. This will end up having a detrimental effect on your business in the long-term, and that\u2019s why it\u2019s something that should definitely be avoided if you can help it. Staying level-headed and focused on the tasks […]<\/p>\n","protected":false},"author":9,"featured_media":2701,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":""},"categories":[25,1],"tags":[],"acf":[],"yoast_head":"\nSo, Things Are Going Well for Your Business? 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