How to Avoid Complacency When Growing Your Business
Eric Walsh, an uber-successful entrepreneur and 7-figure Amazon seller, is sharing the step-by-step secrets of his success with the public. We sat down with Eric to get the scoop on his journey to enormous Amazon success. He discussed the dangers of complacency—a trap he fell into himself when first starting his business in his small hometown of Danbury, Connecticut.
“Everyone has a different barometer in their head of what success is to them,” Eric began. “Whether it’s a healthy relationship, friends, family, money, power— you name it, it’s different for everyone. When it comes to money, success to you maybe $100k a year, maybe $500k, or maybe $10 million. At 21 years old, I built brick and mortar stores in my town. Everyone who lived there knew and respected me for my business.”
For Eric, the downside of owning a business in a small town was that the support and excitement he received from those around him wound up harming his outlook in the long run as a business owner.
“Because I had success at an early age before I was fully mature, it was easier to lean into the compliments that made me feel like I had accomplished everything I needed to accomplish. The “I’m the man” feeling stunted my growth by putting an artificial limit on things. I was not mature enough to understand or realize this at the time,” Eric explained.
What helped Eric make this realization was his move to Manhattan. In the city that never sleeps, you could be making hundreds of millions of dollars per year, and you’re still considered a nobody. Eric found the fast pace of the city to be very inspirational. He was eager to meet and connect with people that he could learn from and grow with.
“It made me realize how complacent I had become in my own business, and that there was so much more I wanted to work on and accomplish in my life,” he continued. “I’ve only told a few of my closest friends the feeling that I felt while I was living in Manhattan. Despite living in the biggest, most popular city in the world, at times I never felt more alone in my life. I’ve always been a very independent person and I never like to rely on anybody else but myself. Finding myself in that situation helped build my character.
“I think it’s an important role that everyone needs to feel in their life at some point. Too many of us are scared of doing things alone. The sooner you can survive and live on your own, the sooner you’ll empower yourself and build the confidence to do absolutely anything you put your mind to.”
In Eric’s perspective, relationships are exactly like businesses. As soon as people get complacent and comfortable in their relationship, they stop growing as a couple. The same thing applies in business. When you get comfortable with the income, the setup, the scheduling, or the weekly tasks, you start to forget to grow.
“People stay in toxic relationships because they lack respect for themselves. They live in fear because they question: ‘Am I good enough for someone else?’ Or, ‘Will I ever meet somebody else?’ They figure they might as well just stay where they are because they’re afraid that their life won’t improve,” Eric explained. “But by staying in a toxic relationship, life will only get worse. The same applies in business. If you know something is wrong with your business, like a manager that isn’t getting the job done after being given multiple chances, but you refuse to take action, your business will only go backward.”
Eric’s best advice to business owners and aspiring entrepreneurs: Be aware of how you measure success and the effect people around you are having on your success. It could hinder you as it did him. For Eric, the compliments of his small town’s inhabitants slowed him down on his way up by making him complacent.
“Imagine you have a goal to make $10k in a month and you manage to hit that goal. Don’t allow the praise of those around you to hinder you just because you reached your goal (though of course, you should be proud of your success). Be aware that these complements could potentially hinder you in the same way they did for me,” said Eric. “To continue to grow your business and experience more and more success as I have done, you must always avoid complacency. In doing only this, you are creating endless potential for your business and your life.”
To learn how to become a successful Amazon seller, enroll in Eric Walsh’s Genius Academy Masterclass. The class has helped hundreds of people just like you create a five, six, even seven-figure passive income stream, giving them the financial and personal freedom to better enjoy their lives. Learn more and sign up here.