Do you feel like your business is just doing well enough? You’re not doing badly, but you’re not doing great, but you’re happy with that? Well, to sum this feeling up is something called complacency and this can be a detriment to many businesses. In this article, we will discuss:
- The three signs of complacency
- How to overcome complacency
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Complacency is often called the “silent killer” of businesses because many owners don’t realize how impactful it can be until it’s too late. Many of us don’t even realize that we’re in that mindset.
So how do we get there?
Many of us know the struggles that come with building a business such as developing our product or service, building a team, obtaining and maintaining a customer base. These all come with struggles and failures that can cause a lot of stress for us.
Once we make it past this stage in our business to a point where we are less stressed and have finally built those foundations, we feel like we can finally take a breath. Everything is going well, or at least going better than it was before.
Then we get comfortable in this state, unwilling to move past it if we can only maintain it.
This state of complacency lingers in us and in our business preventing us from growing the business and letting competitors surpass us. To learn more about how complacency causes problems for businesses, watch our video explaining in more detail.
Three Signs of Complacency in Business Owners
- Disengaged with your employees and customers. Do you sometimes feel like you’re just there? You show up to work and do your same routine with little interaction with the people in your business. You’ve mentally checked out from the people and your business altogether.
- You’ve Stopped Investing in Yourself and Your Business. When we first start our business, we are amped up with excitement that causes us to learn as much as we can, pursue the latest technology and get the best of the best in any way we can. But in a state of complacency, we’ve obtained all we feel that we need and are content with the knowledge we have.
- Loss of Passion. Sometimes we can get to a point where we wonder why we do what we do. Yes, it’s providing for us and our family, but maybe it feels like it’s more trouble than it’s worth. This can manifest in us in the form of procrastination, lack of drive, and lack of direction.
Do you experience any of these things? Unchecked, this can cause us to doubt ourselves and neglect our business over time.
How to Overcome Complacency
- Acknowledging change is the first step
First, you have to accept that change is indeed happening. Come to terms with the big picture, but that doesn’t mean you have to take on all the ills of the entire world on your shoulders. Compartmentalize and break down the changes into manageable pieces. Acknowledging change is the first step. That doesn’t mean you have to change everything at once, but understanding that conditions are now different is an excellent step. Ultimately, taking the first steps toward accepting and adapting to change may not be based on data. You may have to make a ‘leap of faith’ but if you have a support system, mentor or advisers in place, dealing with change might be easier.
- Reassess Your Mission
Our mission statement isn’t just for potential customers. It should be a guiding lighthouse dedicated to ensuring that your business doesn’t get lost at sea, that you’re making sound decisions in-line with the company’s best interests. Those who choose not to create a mission statement often find themselves floundering, not sure how to plan for the future, especially as a small business owner. A mission statement provides clarity.
A mission statement tells people what your business is about, your values, the products or services that it offers, and the potential audience demographic. A mission statement is essentially a vision statement. It includes where you see your company going. If you feel like you’ve already achieved your mission, it’s time to expand it.
- Surround Yourself with Success-Minded Business Owners
If we want to see change, we must first start with our mindset. We must move from a complacent mindset and become less “Maintenance-Minded.” Instead, we must become “Success-Minded”. Once we move our mindset to focus on success and the ways we can achieve it, then we must surround ourselves with business owners with similar mindsets.
Seeing your own success is motivating, but it’s even more motivating to have the encouragement and support of the surrounding people. Bodybuilders frequently benefit from having like-minded friends who are all set on the same goal. When things get tough, they provide support and advice to keep a strong mindset. Conversely, you will eventually get your chance to mentor and advise your team or other business owners who are in the complacent mindset that you were once in. If you surround yourself with people who are similarly motivated, you’ll be amazed at the ways your business will grow, surpassing what you even thought was possible.
So where do you find these success-minded business owners? Networking is a great place to start. For example, every month we hold networking and seminar events for Indiana business owners that covers our 6 step methodology to scale businesses. Not only are business owners investing time towards their education and expanding their vision, but they are making valuable connections with business owners that will support them in implementing these tactics. We’d be happy to save you a spot at our next event! Just register via the link and choose your desired date. We can’t wait to see you there!
