Winning and Losing Streaks in Your Business

Have you ever noticed how winners seem to have things so easy? Everybody loves a winner and everybody wants to be around a winner. Winners get the best table in a busy restaurant and people are drawn to them and their confidence.

Losers are on the opposite end of the spectrum and aren't the ones that will get praise and all the perks that go with winning. People don't want to be associated with losers, who also tend to be in a bad mood. They don't want to be dragged down by them or be associated with them.

Winning and losing streaks happen in sports and celebrity careers, but they also happen in business. A new business struggles to build itself up, and suddenly good sales and good word of mouth advertising propel the company into the spotlight. Your company is hot, trendy and popular. Everyone wants what you're selling. Whatever you're selling is suddenly the best. Venture capitalists want to invest in you. When things are always good we tend to take them for granted. After all, you were on top of the world.

You stop innovating because you begin to rest on your laurels. You have to stay one step ahead of the competition if you want to stay on top. Your fans lose enthusiasm. Your employees lose enthusiasm. This is when the company will start to lose money. This is when the losing streak begins.

That's why it's important for the company's leaders to keep their fingers on the pulse of the people who make them winners, their employees and their fans. The most important thing to an employee is to know that they are valued by the company they work for. They want to do work that matters and makes a difference. This keeps morale and productivity high. A little innovation goes a long way and keeps employees excited about their job. They should be encouraged to bring in fresh ideas that could keep the company on a winning streak and have the confidence to know that their ideas count.

You also can't ignore your customers when things take a downward turn. They are your fans, your word of mouth soldiers keeping up the buzz. If you ignore them they will leave for companies that appreciate them. A company's leaders need to figure out what makes their employees and customers happy. It may not be what you think. Engage them and value their opinion like you would a valued employee.

Winning and losing streaks happen to everyone and all businesses. Staying on top all the time is hard work and takes dedication from the entire team.

Copyright (c) 2011 Julie Austin