Making it Last: How to avoid being a One Hit Wonder in Business

In Chronicles of a CEO by Rebecca Liston

Remember that band from the 90’s called Rednex? What about Deep Blue Something? Remember them?

Maybe I can trigger your memory if I told you that Rednex was responsible for that foot-pounding, heart-hammering “must play at the dance or else” song Cotton-Eyed Joe (“where did he come from, where did he go”…sing it with me!)

And Deep Blue Something gave us that fabulous tune Breakfast at Tiffany’s (If I recall, we all kinda liked it.)

Do you remember them yet?

Huh…well…guess that’s what being a One Hit Wonder really is all about…being really great for a really short period of time and then disappearing from the scene entirely until some blogger like me pulls up your name off a Google list of One Hit Wonders!

And that, my friend, is exactly what I DON’T want for you!

I don’t want your business to be some One Hit Wonder wherein you have a few years of great success and then step back one day and realize it’s all slipping through your fingers and things are not exactly as “successful” as they once were.

I want you to create sustainable success! Success that lasts for as long as you wish it to!

Let’s talk about three key ways of ensuring the sustainable success of your business:

1. Embrace Change. If there is one sure-fire way of finding your business stuck on a downward slide, it’s avoiding change. Everything changes — it’s nature’s way! — and so, too, must your business. Now that doesn’t mean you have to quit selling paper towels and start up a new company developing some new app because someone tells you, “hey, there’s money to be made in tech!” No, I don’t mean you have to make radical change! All I am advocating is that you watch your particular marketplace and pay attention to changes: changes in buyers’ behaviours and patterns, changes in the consumer’s thoughts towards your product, changes in marketing strategies that are shifting within your industry. And no, I am also not suggesting you need to follow “trends” or “jump on bandwagons.” I am talking about being mindful of what’s going on within your industry and doing what you can to stay ahead of the curve by embracing necessary change and being strategic in your implementation of said changes to mitigate any risk and make your particular changes pay off!

2. Mitigate Risk (also known as Don’t Go Off Half-Cocked). As business owners and execs, we take risks every day. Heck, even our morning commute can be fraught with hazards! But here’s something that’s critical for your long-standing success: you must do what you can to mitigate those risks. That means taking the time to really understand what’s going on in the company before you make a move. It means doing your research…performing your “due diligence” to ensure you are not being reactive to a situation but are really making a solid, calculated move. Now, I can hear you saying, “Sometimes there simply isn’t TIME to research each decision” and I hear you loud and clear on that one! So here’s my suggestion: don’t go off half-cocked. Make sure, in every moment, that you at least make time to take a breath (three if you can) before making any decision. You need even just a few seconds to settle your thoughts and ensure you are making a choice from a place of “conscious thought” not “reactive instinct.” It’s very rare for a “reactive choice” to be a “solid choice” and even though sometimes it works out, it’s not a pattern that creates success over the long-haul.

3. Take Care of Your Biggest Asset: YOU. This really should likely be at the top of this list because if you don’t master this one, none of the others really matter. Here’s the truth: you are your company’s greatest asset. As the owner or CEO or CMO (fill in your title) you’ve got a lot resting on your shoulders. Your team relies on you. Your partners rely on you. And the long-term success of your company depends on you! So what good would it do anyone if you were to forget to take care of YOU? If you’re overworked, stressed to the max, unhappy, grumpy, miserable, and end up having a heart attack at the Lunch and Learn on Tuesday, then what? Your company needs you to be healthy and happy. Happy people are more successful and make more money! And it’s pretty hard to be happy unless you are healthy, so as far as I am concerned, the two go hand-in-hand (and I ought to know…I built my first business in the health care sector!) So do whatever it takes to stay healthy (and happy). Eat three meals a day. Go for a walk at lunch. (Yes, take a lunch!) And book time off to get away from the office. The company can survive without you for a week or two…because it needs you, the Best You, to survive long-term.

Let me know if I can support you with any of this because I didn’t remember those bands, either, but I DO want to remember YOU and the trail of successes your business leaves in its wake.

With your long-term success in mind,
signature_rebecca

 

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Rebecca Liston | Business Intuitive

 

Rebecca Liston helps her clients predict, pivot, and compete in an increasingly complex global marketplace. Her clients quickly uncover the root of their challenges and know the actions to take to overcome them. A six-time nominee for the RBC Canadian Woman Entrepreneur Award, Rebecca combines business strategy with intuition, giving her clients the edge on forward-thinking, elegant answers to their most complicated problems. Her clients are entrepreneurs with CEO-mindsets and executives with entrepreneurial instincts. She is based in London, Ontario. What if you could get the answer to your biggest business challenge, in one sitting? Visit rebeccaliston.com to find out more.