MODERN ENTREPRENEUR
business, brand, institution or idea
throughout human history.
1
The Intoxication of Success
In the late 1980s senior vice
president of the Bank of America,
K. Shelly Porges, observed, “The
greatest challenge we have as we
become successful is not to rest
on our laurels, never feel like we’ve
done it. The minute you feel like
you’ve done it, that’s the beginning
of the end.”
The pages of business history
suggest that Porges is on
the money. Success can be a
dangerous thing. It tends to erode
a healthy appetite for invention
and innovation. Success creates
a sense of satisfaction with the
status quo and spurs complacency,
which dulls our motivation to grow
and to keep learning
2
The Tyranny of Tradition
Frank Vermeulen, associate
professor of strategy and
entrepreneurship at the London
Business School, points to the fact
that over time, humans naturally
develop processes, routines, habits
and traditions that we repeat
habitually long after we forget the
original reason for their existence.
This would be fine, of course, if the
world around us stood still — but
it doesn’t. Things around us are
changing faster than ever before
and we must run faster and faster
just to keep up.
While we may naturally be creatures
of habit, those who are committed
to building and maintaining
momentum must resist every urge
to get stuck in patterns and routines
from the past. After all, what has
served us well yesterday may prove
to be a shackle tomorrow.
3
The Baggage of
Bureaucracy
Red tape, overregulation and
bureaucracy are the unholy trinity of
inefficiency. Few other things have
the potential to sap individuals and
organisations of momentum faster.
In order to maintain momentum,
organisations need to engage in
ruthless pruning of red tape. This
may be unpopular, but it’s necessary
to achieve long-term agility,
responsiveness and momentum.
4
The Fatigue of Monotony
Most businesses and
individuals start off with an
inspiring vision for the future. Over
time as things settle into a routine,
however, sober realism begins to
replace optimism. The inspiring
‘big picture’ gets crowded out and
lethargy, despondency and numbing
monotony become the default.
Naturally, there are always going to
be days and seasons where we feel
a bit dry and uninspired. However,
when this becomes the norm, watch
out. Purposeless productivity is soul
destroying. Emotionless motion is
exhausting.
5
The Seduction of
Immediacy
In our modern ‘seize the day’ age
where the pressing concerns of
the current quarter, financial year
or funding cycle can dominate our
thoughts, it is critically important
that leaders avoid short-term
thinking. Momentum is never an
overnight thing. It takes time to
build, whether we like it or not. You
can try and shortcut it but all you’ll
do is shortchange yourself in the
long run. As James Kouzes and
Barry Posner argue in their book
A Leader’s Legacy, we must be
wary of becoming hostages to the
present.
While the process of losing
momentum is often incremental and
unconscious, it is also predictable
and measurable. My hope is that
this list offers echoed warnings
of the traps that have derailed the
momentum of countless others
organizations and institutions over
the years. After all, Momentum
is a powerful force to guard and
preserve at all costs —once it is lost
and working against you, turning
things around can be an enormous
uphill battle.
Michael McQueen is a 4-time bestselling
author and multi award-winning
business strategist. He has worked
with many of the world’s best-known
brands and is a regular commentator
on TV and radio. Michael’s most recent
book Momentum: How to Build it, Keep
it, or Get it Back (Wiley), is a must-read
guide to achieving breakthrough growth,
unstoppable vitality and sustained
success. For more information visit
www.MichaelMcQueen.net
October 2016
ModernBusiness
59