Don’t Copy These Mistakes Of Big Companies If You Want To Grow & Maintain Your Success

Sep 17, 2020

You do need to think big, and it’s good to aspire to go big. Once you get there, you don’t want to lose your gains and success either. Big corporations obviously must have done something well. Though whether you are just starting out, want to get to the next level, or have achieved some great success and don’t want to forfeit it, avoid copying their most critical mistakes.

Be wary of these traps and mimicking these mistakes of big companies. Especially as we’ve recently seen many of the biggest and oldest fall into trouble, while startups rise and surpass them.  

Stay in growth mode

Just maintaining the status quo is a losing game. You are either growing or shrinking and being surpassed. Don’t get too comfortable and throw away what made you good. You’ve got to keep casting bigger visions and goals and put the action steps in place to keep growing.

Remember what got you there

Big companies forget and get confused, and many of those who aspire to be like them get confused about why they are successful. Is it the big offices? The corporate looking websites?  Remember what really got you to where you are and what worked. It was probably, being scrappy, innovative, hard working, great customer service, relationships, being edgy, and going the extra mile.

Listen to the front lines

They are closest to customer when you can’t be anymore. Make sure you still spend time there to keep in tune with your customers. When you are not, listen to your frontline staff. They know your customers and the market better than you once you’ve moved up to other things.

Don’t let inefficiency and rigidity take over

You have to be flexible, and demand most from your dollar. Big office buildings and poor customer service teams are taking down giants. 

Being afraid to try new things

You have to embrace new things. New styles, technology and trends. Don't wait till it's too late.

Basic math

Don’t lose your basic business sense. Going for broke fast can work for a while in some circumstances. Of course, it can also literally mean going broke fast too. Business is about profitability. Hang on to that.

Investment Opportunities

Find out more about investing in secured debt and real estate, go to NNG Capital Fund

Image by Gerd Altmann from Pixabay