Complacency is one of the top reasons businesses fail. Far too many businesses accept mediocre results and hardly ever try to reach for record breaking results. In organizations like that, everything becomes mundane and creativity dies. When creativity and innovation die, a company stops growing. And when a company
doesn’t grow, it will eventually fail.
Matt Lloyd discusses why complacency is bad for business and how to avoid being complacent as an entrepreneur. Matt Lloyd also talks about the need to keep growing as a business, because there is always competition coming in to the market and taking away market shares.
Why Do Entrepreneurs Get Complacent?
Most people get comfortable with their success. There go from having very little or no success at all, to making tens of thousands of dollars, and they start thinking everything they touch turns to gold. According to Matt Lloyd, that’s when the real problem starts to occur. They start believing they will always be successful; hence they stop innovating. They lose the hunger for success they had in the beginning, and they have nothing more to strive for.
How to Avoid Complacency
To
avoid being complacent in growing MOBE, Matt Lloyd says he maintains a healthy
degree of paranoia of the competition. He makes sure that he keeps up with the
industry and know what his competitors are doing, so that he can innovate and
create something better, thus staying one foot ahead.
Matt
Lloyd says he also likes to take note of who he is comparing himself to.
Instead of comparing himself to people doing average things, he like to look at
billionaire and other such who have made great success. That motivates him to work harder because he
realizes that he still has a long way to go.
Conclusion
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