post

Success Can Create More “Problems” Than Failure

One dark side of success is that it can create more problems than failure. They are good problems to be sure but they must be faced and dealt with. When you have achieved a measure of success,  decisions look riskier because you now have more to lose if you are wrong. You have more employees and have to create a more complex organization. You may need new space, new technology, new marketing support. You may find yourself spending time on things you never dreamed you would have to deal with. Failure is final. Success must be sustained. This is when you realize one of the things they do not teach you in business school about running a company-that you have to take chances all over again and “walk off the cliff.” You have to spend money before the revenue is in place to support it by hiring and investing in infrastructure and technology. The trick is to keep the time between the investment and the break-even and profit as short as possible. In fact,  you have to escape the paralysis that comes from saying to your self. “I cannot afford to do these things,” and then never drilling down into the decisions and seeing what the monthly costs are and then developing the revenue strategies to overcome the shortfalls. Besides the reluctance to delegate, one of the biggest problems is the fact that the owner/CEO is pulled away from his or her highest and best use that got the business to this point to begin with. So, remind yourself of what you do best and put in place the people and resources to free you to do that and enjoy the success you have achieved and deserve.