One word can make your business fail

One word can make your business fail
It is amazing to think that there is one word that can lead to business disaster: Complacency.
To me, complacency is the Cancer of business, and it is usually terminal.
Too often, people who have built a successful business come to crossroads in business. They decide everything is going well and, in turn, lose focus of the business by playing golf, working half days during the week or taking longer holidays.
In theory, this seems OK, but what is the downside to this behavior? Yes, you want to enjoy the benefits of your success, but you have to make sure that you do not pay a high price for this.
To take time away from a business that you have successful created is OK but only if you have trained other people to fill your shoes. I don’t mean staff who can manage under your direction, but people who will make decisions the way that you would. You have to make sure you have continuity so there will be no discrepancy in their future decision-making process.
Continuity is essential, unless you want a change of ideas in your business to bring it to a different level.
I believe that there is a time when you can take time off from your business, but it has to be carefully thought out. Reasons to relinquish authority depend on the situation and/or future objectives you hope to achieve. Do you want others to take the business forward to a new level or in a different direction? Do you want to retire or sell the business? Or do you feel that you have done as much as you can, or want to do? All these reasons are indeed legitimate.
However, be aware that if the business starts to slip, the slope is very slippery. Coming back up the hill is very steep and difficult to climb.
Enjoy the rewards to your success; just be careful to make sure that the enjoyment lasts a long time.

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