[00:00:10] Hi everyone and welcome back to Reflect Forward. I'm your host, Kerry Siggins, and I am so glad you are here today.
[00:00:16] Today I want to talk about success and how sometimes success can lead to failure.
[00:00:22] We all strive for success as business leaders. We push through challenges, we make sacrifices, and we fight for that moment when the hard work finally pays off.
[00:00:32] But what happens when we reach the top? What happens when all the accolades, the profits, and status arrive?
[00:00:37] Do you keep going or do you sit on your laurels? Here's the paradox. Success, while celebrated, can often lead to our biggest failure.
[00:00:47] Now we know that this sounds counterintuitive, but if you're not careful, the very success that you worked hard to achieve can lead to complacency, stagnation, and eventually decline.
[00:00:56] And as leaders, we must stay vigilant, we must stay creative, and always be in motion, always looking to take action, always looking to grow.
[00:01:03] So I'm really excited to talk about this topic today because I'm often asked what keeps me motivated.
[00:01:09] And the fear of complacency is one of the things that keeps me motivated.
[00:01:13] I know that there's all kinds of stories about leaders who fail and companies who fail because they don't anticipate the growth and the changes that are yet to come.
[00:01:23] They don't anticipate how they're going to have to evolve.
[00:01:25] And I get it. Sometimes when you're successful and you work so hard, you just want to enjoy it.
[00:01:31] And you should enjoy it, but never lull yourself into thinking that once you've reached that pinnacle, that that's it.
[00:01:39] Because let's face it, life is always a journey. There's never a destination.
[00:01:43] And if you're not careful, the success you achieve can lead to failure because you stop aiming to be successful or achieving at least at that high level.
[00:01:54] Because if you are in that place or looking to be successful, you want to avoid the trap of complacency.
[00:02:01] So what is the trap of complacency?
[00:02:03] Well, it's a dangerous mindset.
[00:02:04] It's that thought of, I finally made it.
[00:02:07] You stop questioning your strategies.
[00:02:09] You stop innovating.
[00:02:11] And perhaps most dangerously, you stop learning.
[00:02:14] And this is where success becomes a trap.
[00:02:17] I lead StoneAge with the constant view of the future, constantly looking at how we are not only going to disrupt the industry, but how we are going to disrupt ourselves.
[00:02:27] Because that is what innovation requires.
[00:02:29] That is how you avoid complacency.
[00:02:32] I never want to be the story of, although we're a lot smaller, Kodak or Blockbuster, companies who fail to see the future and to address competition and to listen to what their customers want and always innovate and come up with new business models that are going to allow them to grow.
[00:02:51] They were incredibly successful.
[00:02:53] And because they didn't want to disrupt that success themselves, they were disrupted.
[00:03:00] And that can happen in personal leadership, too.
[00:03:02] So it really is important to always remember that even if you're thriving, whether it's your company, whether it's your team, whether it's you personally, when you fail to adapt, whether that's to new technology, changing market trends, shifting customer needs, shifting employee needs, how the world is changing so that you're continuing to learn and upskill yourself, then you start to decline because you're not investing in yourself.
[00:03:29] Companies and leaders who rest on their laurels, those who are confident that their past accomplishments will lead to future success can be absolutely blindsided by disruption or the changing world and the new skills that you need to develop because you have to constantly learn.
[00:03:46] And it's not that your initial success isn't real because it is.
[00:03:50] It's that you never want to be blindsided by the fact that the game does not stop changing.
[00:03:56] So how do you avoid the trap of complacency?
[00:04:01] Well, you constantly have to ask yourself, am I relying on old successes to carry me forward?
[00:04:06] Am I still pushing the boundaries of what's possible?
[00:04:09] Am I challenging myself or am I just doing what worked yesterday?
[00:04:13] If you answer these questions honestly, you can avoid that complacency trap.
[00:04:18] So why does success sometimes become a failure?
[00:04:22] Well, first, it's a comfort zone.
[00:04:23] Success breeds comfort and comfort is the enemy of growth.
[00:04:27] I always say don't be afraid to get out of your comfort zone because that's how you expand your competency zone.
[00:04:34] Let's face it.
[00:04:35] We get better when we try hard things, when we do things that we're not good at, when we practice, when we push ourselves.
[00:04:41] And that's how we grow our competency.
[00:04:43] Five years ago, we were not nearly as competent as we are as leaders now because we've had the opportunity to grow and to gain new experiences and to learn.
[00:04:51] So just remember that when you get outside of your comfort zone, you're building that competency zone and it is allowing you to evolve.
[00:04:59] So to avoid risking falling behind, get out of your comfort zone.
[00:05:04] The second reason why success can become a failure is the lack of innovation.
[00:05:09] Once you've found a winning formula, it's tempting to stick with it.
[00:05:12] But markets and customers and technology are constantly in flux.
[00:05:15] So if you're not continuously innovating, looking for those new ways to improve, disrupt, or even reinvent yourself, you'll be left behind.
[00:05:23] I have a couple of tips that will keep you in that innovation mindset.
[00:05:26] Always be thinking about how do we reinvent ourselves?
[00:05:29] How do we disrupt ourselves?
[00:05:30] Whether that's you personally or whether that's your team or your company so that you're not left behind.
[00:05:35] The third reason why success can become a failure is that we can take success for granted.
[00:05:40] It's tempting to think that success is a perpetual state, but in reality, it's fleeting.
[00:05:45] What works today may not work tomorrow.
[00:05:47] In fact, it probably won't.
[00:05:48] As I mentioned before, the world is littered with companies that didn't adapt.
[00:05:53] And it's not the companies who failed.
[00:05:55] It was the leadership running those companies who failed.
[00:05:59] I already mentioned Blockbuster, Kodak, Nokia, BlackBerry, and their failure to anticipate and adapt led to their downfall.
[00:06:05] And that is what leadership is all about.
[00:06:08] So don't take your success for granted.
[00:06:11] The fourth reason why success can become a failure is that you neglect personal growth.
[00:06:17] As leaders, businesses are a reflection of us.
[00:06:20] We are our culture.
[00:06:21] We are the business.
[00:06:22] We are the successes.
[00:06:23] We are the failures.
[00:06:25] And when we stop pushing ourselves to grow, our businesses can stagnate too.
[00:06:29] Success can make you feel like you've learned everything, but that's simply not the truth.
[00:06:32] There's no possible way that we can learn everything.
[00:06:35] In fact, the more that I learn, the more I realize how little I actually know.
[00:06:40] Learning is 100% a lifelong process.
[00:06:42] And if you're not actively seeking new ways to grow, you will find yourself following behind.
[00:06:47] So make sure you're reading.
[00:06:49] Join a peer networking group.
[00:06:51] Surround yourself with people who have done things that you want to do.
[00:06:55] Surround yourself with really successful people.
[00:06:57] Be hungry for knowledge.
[00:06:59] Always, always, always grow.
[00:07:02] So let's jump into staying hungry.
[00:07:04] How to keep evolving.
[00:07:05] You want to avoid the trap of letting success become your failure.
[00:07:08] So here are the steps that I suggest you take so that you never rest on passive victories and you are always growing.
[00:07:16] Number one, embrace the beginner's mind.
[00:07:19] No matter how much you've accomplished, always seek every situation with curiosity and a willingness to learn.
[00:07:24] Stay humble.
[00:07:25] Ask questions.
[00:07:27] Seek advice.
[00:07:28] Be open to new ideas.
[00:07:29] The moment that you think that you have all the answers is the moment you start to lose.
[00:07:34] Number two, prioritize innovation.
[00:07:37] Encourage innovation within your company and lead by example.
[00:07:40] Don't just focus on what's worked before because, as we know, past performance does not guarantee future success.
[00:07:46] And take calculated risks to encourage your team to think outside the box.
[00:07:50] Ask yourself regularly, what's next?
[00:07:52] What new ideas can I bring to the table?
[00:07:54] How do I get my team to bring new ideas to the table?
[00:07:57] What's happening in the market that we need to pay attention to?
[00:08:01] Number three, set new goals regularly.
[00:08:03] Once you've achieved a major goal, do not rest on it.
[00:08:06] Set another.
[00:08:07] Success is not a finish line, but a checkpoint.
[00:08:09] Remember the gap in the gain?
[00:08:11] It's always important to be measuring yourself on how far you've come, not how far you have left to go.
[00:08:16] So that's why when you set new goals regularly, you can appreciate how much you've accomplished and then go, okay, what's next?
[00:08:23] Keep pushing those boundaries of what's possible for yourself and for your business and for your team.
[00:08:28] Continual goal setting while you're paying attention to the gain, not the gap, keeps momentum alive.
[00:08:34] And if you don't know what I'm talking about with the gap in the gain, go back to a couple of podcasts ago.
[00:08:39] You can search gap in the gain, reflect forward, and you'll find that podcast.
[00:08:43] And it's such a great way to view your progress and success and to keep you motivated.
[00:08:49] Number four, always understand your customers.
[00:08:51] Remember, we exist because of our customers.
[00:08:55] Your customers are the lifeblood of your business.
[00:08:58] And as you grow, it's easy to lose touch with what they want.
[00:09:00] So stay connected.
[00:09:01] What do they need now?
[00:09:02] What are their pain points?
[00:09:04] If you stop paying attention to what your customers want and what they're telling you,
[00:09:07] you'll miss the changes that could disrupt your business.
[00:09:10] And remember, you want to be the one disrupting your business, not somebody else.
[00:09:14] And finally, number five, invest in personal development.
[00:09:17] Commit to the idea of lifelong learning.
[00:09:19] Read books.
[00:09:20] Reading is so important.
[00:09:23] Attend seminars and conferences.
[00:09:24] Hire a coach.
[00:09:26] Constantly seek new ways to improve as a leader.
[00:09:29] Your business will grow in direct proportion to your personal growth.
[00:09:34] In business, life, and leadership, success is never final.
[00:09:37] It is a momentary reward, not a permanent state.
[00:09:41] Complacency is the silent killer of a once great business and a once great leader.
[00:09:46] Do not allow yourself to fall into the complacency trap.
[00:09:50] To prevent your success from becoming your failure, you must stay curious, always pushing
[00:09:55] those boundaries and constantly evolving.
[00:09:58] Remember, success is a moving target.
[00:10:00] And as long as you stay hungry, creative, and willing to grow, you'll keep hitting the
[00:10:04] mark.
[00:10:05] Never stop moving.
[00:10:06] Never stop taking action.
[00:10:07] And never take your success for granted.
[00:10:11] All right.
[00:10:12] That is my podcast for today.
[00:10:13] I hope that you found some good nuggets in there to help keep you motivated and to make
[00:10:18] sure that you do not fall into the success being your greatest failure trap.
[00:10:23] With that, I will leave you for your day.
[00:10:25] Thank you so much for joining me on this podcast.
[00:10:27] If you like it, please share it with a friend, write a review, subscribe to it on YouTube or
[00:10:32] your favorite podcast platform.
[00:10:33] It helps with the algorithms and I appreciate it so much.
[00:10:36] And if you like tips like these, please check out my book, The Ownership Mindset.
[00:10:41] It's been, I can't believe it, just over a year since it came out.
[00:10:44] It has been so incredibly successful.
[00:10:46] And if you are interested in more tips on the ownership mindset and how to improve yourself
[00:10:51] as a leader, please be sure to check it out.
[00:10:53] You can find it at Amazon, Barnes & Noble, Audible, all of your favorite book places.
[00:10:59] All right.
[00:10:59] With that, I will leave you to your day.
[00:11:01] Thank you so much.
[00:11:02] We'll see you next week.