Most business owners imagine that success occurs in a series of steps. They believe that each new level of success will set them up to then reach the following level. While it’s generally true that you need to build upon previous successes in order advance your business to new heights, what’s often overlooked is that each new achievement also creates counter-productive forces that can cause your business to crumble if you don’t manage them correctly.
The problem is that success can lead to complacency and arrogance. Depending on your business and the personalities of your team members, one or both of these negative side effects of success could become problematic as your business grows. Either way, they cause you to forget what made you successful in the first place, which is how they undermine your future.
Here is a more detailed look at how complacency and arrogance lead to you forget what made you successful, and some ways you can try to prevent it from happening at your company.