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The Satisfaction Trap

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While gratitude for current circumstances and successes is prudent, being satisfied is incredibly dangerous for business professionals. Satisfaction becomes a trap that keeps you cemented to your doorstep and allows your competitors to grab more market share. I asked a recent workshop participant, who was resistant to ideas for enhancing her business, if she was satisfied with her current business model and she replied, “Yes!” When asked if she was also satisfied with her results, she responded sarcastically, “Well of course not, that’s why I’m here.”

Evolving your best practices to those that leverage the new economy are the only way to ensure nonstop growth and perpetual profits. When you do that, you’ll be the one looking back at your competition as they waive meekly at you from their doorstep.

Scott WintripThe Satisfaction Trap

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  • Heather - October 4, 2010 reply

    You always hit the nail on the head with these Monday posts. For far too long I have been “okay” with things in my business. It’s time I take your advice and implement more of what you refer to as best practices versus the most practices I’ve done for years.

  • Kirk - October 5, 2010 reply

    I couldn’t agree more! The sage advice; “Evolve or Perish” comes to mind.

    Many of us made fundamental changes to our methods, even our business model, as the recession unfolded – mostly out of sheer necessity for survival. Now that things appear to be improving, it is even more important to focus on continued improvement.

    We need to take steps to differentiate ourselves from our competitors, increase our marketing effort, and continue to build on relationships with a goal to increased performance and efficiency. Wise individuals will re-invest profits back into the business to create new opportunities for growth.

    We’re just emerging from an economic ‘winter’. This is the perfect time to prepare for the coming ‘summer’ season.

    Scott Wintrip, PCC - October 6, 2010 reply

    Kirk,
    Well put. Companies that enhance their best practices and diversify their market share will experience a much faster upturn than those that do not.

  • Douglas Holt - October 8, 2010 reply

    Define “diversity their market share” please

    Scott Wintrip, PCC - October 8, 2010 reply

    Douglas, diversify market share is increasing the depth and breadth of services being provided and whom they are being provided to. So, it’s not just about having more clients. It’s also about having substantial depth in the amount of business you do in as many of those customers as possible. The result is nonstop growth and dramatic profits.

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