Success can come from nowhere. You might be one of the millions of people who have suddenly become incredibly successful because you have a great product, and you promote it to the masses. You might have published a book that has made you a millionaire overnight. Or you might have been named the Top 1% of something, like in the case of a CEO. But how do you deal with sudden success?
Here are the following steps on how you can deal with sudden success and how to maintain it:
- Take a deep breath, and don’t rush into celebrations. We’re all prone to the occasional bit of sudden success or wealth, but, as an actor, author, athlete, businessperson, or politician can attest, it’s not usually a good idea to celebrate too quickly. Think about it: What are your instincts when you get a raise or win the lottery? You probably have no idea what to do, so you tend to start spending wildly. Be honest—you did the same when you got your first big break. Or do you even remember what it was like to have a check in the mail and not have to answer to the boss for it?
- Know your money. Money is a part of the business, so it is important to figure out how much working capital you need to meet the market demand. That way, you can put some smart thinking to work. If your company has good credit, your first call should be to your bank to set up a credit line or increase the one you have as one of the ways you can handle sudden success. You should ask: can you affordably charge for the credit you want to acquire? The answer will help you determine whether you should go to a bank to obtain one or if a credit card is the best way to go.
- Contact people that will help and support you. At times when the world seems filled with uncertainty and uncertainty, help is always close at hand. This is especially true when it comes to the people who surround you. When you are suddenly thrust in front of the public eye or find yourself in a position of power, it is important to have the support of the people closest to you. Yes, sometimes it is difficult to ask for help, and yes, sometimes it makes things harder in the short term, but this is always worth it in the long term.
- Create partnerships. The path from obscurity to sudden success is filled with many pitfalls, but one of the best ways to deal with them is to forge partnerships with other companies. Successful people know the value of strategic partnerships. They understand that the quality of their relationships with their peers and customers is critical to their success. They realize that a strong community (one that holds them accountable supports them, and lets them know when they’re screwing up) is the key to their success. This is a lesson many successful people still have to learn—and one that can drive them to distraction at the moment.
- Learn to leverage success. It’s easy to get caught up in the excitement of sudden success, but it’s important to understand all that comes with it. Since you are one of the lucky people who have found your success pathway, it’s easy to get complacent. As a result, you need to make sure to build your self-esteem by developing your character and leveraging your success to take it to the next level.
- Learn to invest. If your business is one of the few that become a huge hit, you can build on that success by reinvesting some of the profits into your business to help it grow. Remember, the short-term profits you may see now are not guaranteed to be there tomorrow. You want to assure your business is viable, so when the big hit does happen, you are in the driver’s seat.
If you’re like others, you probably celebrated your first success by screaming at the top of your lungs, jumping up and down, and flinging cookies at the nearest person. Here’s a secret: that’s not the best way to show your gratitude. Because, like it or not, success is fleeting. You’re not going to be hailed as a success forever. Be sure to savor this joyous milestone but make sure that you are also working on things to make this event even more fruitful.