THIS ONE THING will Destroy Your Business
Summary
- Current success is often the root cause of future failure; avoid complacency to prevent business decline.
- Urgency and energy at the start of business should be maintained to sustain growth rather than settling into comfort.
- In 2019, I noticed Gym Launch plateaued, revealing complacency had set in among the team despite our success.
- Success often leads to a false sense of security; behaviors within the company must shift to counteract this.
- Act like a thermostat, setting the temperature, not a thermometer just reflecting it; drive the business rather than accept the status quo.
- To prevent business destruction, ensure your team has a sense of mission and urgency, focuses on results, and doesn't develop an inflated sense of market position.
- Instill a sense of urgency using the formula of purpose plus opposing force, all within stringent time frames.
- Promote a healthy skepticism; success is temporary without sustained effort and agility in business practices.
- Foster an action-oriented team culture that values aggressive attempts and learning from failures over passivity.
- Develop and maintain a gritty team attitude, encouraging pursuit of discomfort to better weather future challenges.
- Inspire through stories and focusing on the 'why' behind your business; maintain enthusiasm and vision despite setbacks.
- Remember that change is constant in business; never let current success hinder future innovation and drive.
Video
How To Take Action
I would suggest implementing an attitude of continuous learning and growth in your business. Never rest on your laurels because success can lead to complacency, and that's when businesses start to fail. Here's what you can do that's low cost but high value:
First, make sure you and your team stay hungry for success. Maintain the energy and urgency you had at the start of your business. Always be on the lookout for ways to improve, even when things seem to be going well.
Second, set clear, challenging goals with deadlines. This will help keep everyone on track and motivated. And remember, focus on results, not just activities. It's about what you accomplish, not just what you do.
Third, encourage your team to take risks and learn from their failures. Promote action over lengthy discussions. It's better to try and fail than to not try at all.
Fourth, keep your team inspired by reminding them of the "why" behind your business. Tell stories of challenges you've overcome and share the vision vividly.
To wrap up, here are four steps that are easy to start with:
- Keep the Mission Clear: Remind your team of the company's purpose. It’s not just about the job — it's about the mission we're on together.
- Challenge with Deadlines: Set deadlines for projects to instill urgency. Small timelines work best.
- Measure Success by Results: Judge work by the outcomes, not just the effort.
- Inspire Through Stories: Share stories that connect the team to the business's mission.
Always look ahead. Change is inevitable, so always seek innovation and growth. Don't let a current success stop you from reaching the next level.
Quotes
"Success is temporary if we stop doing the actions that got us success in the first place"
– Leila Hormozi
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"Purpose plus opposing force over time creates a sense of urgency"
– Leila Hormozi
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"Healthy skepticism is understanding that what worked yesterday won't work tomorrow"
– Leila Hormozi
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"Promote making aggressive over passive mistakes"
– Leila Hormozi
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"Inspiration comes from focusing on the why not the how or the what"
– Leila Hormozi
