Are you still riding the fading momentum of smart choices you made several years ago?
We are all familiar with the story of the Hollywood star who makes it big in a blockbuster movie, is a household name for a while, and then begins to fade.
Often, we see their star fading before they do.
A similar same story plays out in business, even for freelancers.
A smart freelance choice is made, things are going swimmingly well, and then the momentum of your success takes you far beyond the point at which you should have taken stock and made some changes.
That momentum lures us into a false sense of security. We keep working, and seem to be doing just fine, without understanding that the momentum we are riding is the product of past success, and will soon lose energy and leave us stationary, standing by the side of the road in the middle of nowhere.
I am not saying you shouldn’t enjoy your successes. You should. Feed off the buzz you get from doing good work.
But always pause and review the source of success in your business.
As an example, many years ago I used to do a lot of direct response work for TV Guide magazine and various cable companies. That work paid the bills and more for almost a decade. I didn’t think I had to stop and review where I was going. It felt like I had found a niche that would last me a lifetime.
Then the TV business changed, dramatically. My business base was shrinking under my feet. But it took me way too long to notice. The momentum of my past success carried me far beyond the point at which I should have paused and taken stock.
By the time I finally saw the writing on the wall, I had to scramble like crazy to diversify my client base. It took a couple of years for me to get off the dirt track and find my way back to the highway.
My problem? When things were going well, I didn’t bother to consider whether my success was due to smart choices I was making at the time, or due to the fading momentum of a smart choice I had made several years before.
I don’t make that mistake any more. When things are going really well, I always pause and analyse the source of that success.
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