When success tanks, it’s easy to blame it on competitive disadvantages. However, that might not be the cause. At its root, the failure may rest on a closed mind – a proud mind that is not able to stay flexible and learn even with a lot of experience. Staying humble and remembering why there was success in the first place will help keep that edge; as well as outsourcing to talent that supplements any that might already be there.
- Nearly half of all public companies end up losing all their value
- Due to human nature, we tend to concentrate more on finding an edge or leg up than keeping one
- Maintaining success is a different set of ideas and practices than founding a business
“The only thing harder than gaining a competitive edge is not losing that advantage when you have one.”
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