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Post by katiebourgeois on Oct 7, 2013 7:52:15 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success for Too Long
Focusing on your past success can hurt your business. If you try to do things the way they were done in the past, chances are that those processes are obsolete. They probably won't get you the same success you previously had. Bass also stated that measuring your success in revenues can become an issue. I agree with him. Many companies can turn a positive revenue, but they have many issues with other things such as company culture and things internally. Though the financials are a good representation of a company, they don't always represent how a company is actually doing.
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Post by trey on Oct 8, 2013 12:49:15 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
Its easy to get caught up in the great success you've had previously and to forget about what the company is actually doing now. I think this is more of a problem with new company who come out of the gate hot, and then quickly cool off. It is important to remember what took place in order to have success that first time. Often times it is just the work ethic and energy towards ideas that bogs down and that ends up hurting numbers.
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Post by chadraziano504 on Oct 10, 2013 20:58:51 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long by
The first part of this article made a good point but the rest of the article was very confusing to me. It seems the article wants to remind you to acklowdge your success but do not forgot to look foward and try to keep improving. The business world is changing everyday so if you decide to continue to celebrate your past success, you will probally forget about all the change going on.
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Post by beccabourgeois on Oct 12, 2013 15:55:37 GMT -6
This is true that companies hold on to their past success for too long. My old boss did this exact thing. He couldn't accept the fact that his business was slowly going down because he could only think about the success his business once had. As a leader it is easy to confuse what the results are today with the actions that happened a while ago. Then you just start cruising, and don't get any better. When you hit your peak of success, it is important to just keep going up from there. Always try to improve, even if you've been successful in the past.
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Post by lana.guay on Oct 14, 2013 10:25:42 GMT -6
I believe this article basically encourages people to keep learning and growing as a company and always make improvements if necessary. It's a good point to not look at past successes and think that just because of that success, you will automatically have future success. However, it's good to look at successes of the past to keep you motivated. Things are always changing, and it is important as a business to keep up with it in order to "stay in the game." What works for you now, may not always work for you in the future. It is important to recognize this and always be learning.
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Post by katiesnyder on Oct 14, 2013 18:34:40 GMT -6
Instant MBA: Don’t Hang On To Your Past Success For Too Long Times have changed and people think that if something worked well in the past than it will still work today. That is not always the case. The world is consistently changing and so is everything in it. Bosses shouldn’t dwell on the past because the situation might not call for the same plan of action.
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Post by wparker on Oct 15, 2013 8:35:06 GMT -6
"Don't hang on to your past success for too long"
In the business world, you can't really depend on past successes to get you through the end of the day/year. You start to think you're invincible, to a certain extent. The business world is always changing. What may have worked for you in the past, may not work for you in the future. Profit and revenue should not be a measurement for success, in my opinion. You may just have a good year, and your numbers reflect that, but they don't reflect why. There could have been a surge of demand for your product just for that year, and the next year could be worse off for you if demand takes a fall.
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Post by zekesonnier on Oct 15, 2013 12:51:20 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
I can understand how it is easy for us to look at the past and make judgment on our success in the present but doing so does not value if we are doing the right thing in the present. We made be successful at the moment but what we do now determines if we will continue to be successful. With a constantly changing world we must keep pressing forward seeking new opportunity and knowledge.
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Post by blaircavalier on Oct 15, 2013 14:40:33 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
It's nice to look back every now and then and see what took place, but living in the past can be a dangerous thing. As individuals in the working world we sometimes look to numbers to show us how well we are doing or how much we have grown, but sometimes these numbers lie. These numbers can be factors from situations that took place in the past. These situations could no longer be present and it could be showing us false results. Companies need to figure out a way to measure their own success and go based on those techniques and not only what the numbers are showing.
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Post by billyg on Oct 16, 2013 8:56:29 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
Passed success only matters for so long. If a leader gets stuck measuring all their company's success on profit then they will fail at measuring future success. New ideas will need to be celebrated quickly so the leader and company do not get stagnant celebrating the past success.
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Post by leetaranto on Oct 16, 2013 15:31:21 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
Hold onto success for too long is a very bad idea to have to succeed. Just because your past was good does not guarantee the future of your success. Because your doing good one day does not mean the next day will be good. Because anything can happen without us even noticing it or seeing it in advance . This could help one in the future to always achieve for excellence ever minute every hour to guarantee a better result than yesterday's because anything can happen in a matter of a second.
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Post by dorcas on Oct 17, 2013 9:24:44 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
Sometimes your past does not matter much for example in college, high school grades worth matter if one work hard, one can still change the future, same thing in business. Past profit is only a benchmark of future but they should not be used to measure future profit. Business environment changes very fast, and as an intelligent smart business person, you will also focus on improving tomorrow.Continuous improving and monitoring is what i consider important in business and also in life.
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Post by natjohnson90 on Oct 18, 2013 11:21:52 GMT -6
Carl Bass says, "I’ve been spending a lot more time trying to quantify or figure out if what we’re doing is right, or whether what we’re really doing is just celebrating the result of things that happened a while ago." I agree with Carl Bass because things change over time which may cause you to change what your company is doing. So it's good to get out the past success and see what you can do to keep moving forward.
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Post by boris on Oct 22, 2013 19:40:57 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
Being successful in the past does not mean everything is still running smoothly. Like the article said your revenue and profit can still be positive but it does not mean that your business has still the spark it takes to keep those profits and revenues up in the long run. It is good to innovate and keep moving as the economy changes and not rely on what made the company successful before. Celebrate your past success but move on and use that to push you to gain new success in something else.
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Post by brittanyfury on Oct 24, 2013 10:14:43 GMT -6
INSTANT MBA: Don't Hang On To Your Past Success For Too Long
When starting a company, it is important to record and track your revenue and profits to use as a guide for the future. However, if you hang onto those past successes for too long, you may find yourself stuck or just coasting through business. Just because you have done well in the past, doesnt guarantee a sucessful future. New competition may have entered the market, consumers may have other demands or prices may have fluctuated. All of these factors can change your revenue and require change and upkeep to the company. Every decision must be in the best interest of the company's future and should not be a celebration of the past successes.
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