We all love a winner and want to be surrounded by them. They exude confidence and always seem to come out on top.
But losers get the cold shoulder, don't get into the trendy nightclub, and seem to fall into a spiral of doom. 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. It seems like you can't go wrong and that's when you might start taking things 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.
A company's leaders need to remember the employees that keep them in the spotlight and make them look good. 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. Productivity and morale is kept 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.