Complacency is the single most dangerous enemy you can have. It has ruined many a great company. If you are not careful, it can do that to your business, too.
Reaching the top in any industry is not going to be easy. Many companies never get there. Some get to the top and go down the other side. And few stay there for a long time.
One of the priorities for staying on top is to remain competitive. And, that can be even harder than the climb to the top itself. Preserving your competitive edge is the only thing that can keep your company where it is.
Unfortunately, many companies lose their competitive edge soon after they make it to the top. Why? That is because they grew too comfortable and opened the door to the most significant danger of them all – complacence.
As you may know, complacency has toppled many brands. Yahoo, General Motors, and Blockbuster are only some of the most famous examples. There are countless others.
But, why is complacency such a big threat? Why is it so dangerous? When complacency sets in, you lower your guard and you slow down. As a result, your employees slow down, too. They stop working as hard as before, and they stop investing in themselves.
If you don’t deal with complacency in time, it can topple your company. In this article, you’ll find some of the most common signs of complacency. Illustrated by several of the seemingly-unstoppable companies that fell to complacency.