Most entrepreneurial business leaders have a strong drive to succeed. That drive carries them through rough periods, generates ideas for innovative solutions, and pushes them toward higher goals. But sometimes, the cost of a win is too steep and no longer worth it. It’s a Pyrrhic victory. Avoiding a Pyrrhic victory in your business can help it experience true success.
What Is a Pyrrhic Victory?
In the 3rd century BC, Greek king Pyrrhus of Epirus led military campaigns against his Roman enemies. One battle was particularly brutal. King Pyrrhus finally declared victory, but at an exceptionally high cost, with losses of many of his best soldiers, including his lead general.
The term “Pyrrhic victory” now refers to the victory won at such a steep cost to the victor that it feels like a defeat. The victory that damages the victor beyond repair – the battle won, but the war lost.
Pyrrhic Victory in Business
Most business leaders are familiar with the term loss leader (a product or service given at or below profit margins to attract new customers). The offered product or service aims to bring customers back for additional, more lucrative business interactions. These business losses are accepted because they can bring new revenue with them from repeat interactions in the future.
A Pyrrhic victory comes at a higher price. Think of bidding wars where you “give away the farm” to close big deals or push your team to achieve an audacious goal only to burn them out. While you may close the deal or achieve the goal, the cost could ultimately sink your business finances or culture.
Avoiding a Pyrrhic victory in your business takes discipline. Bringing your vision for your company to life is part of the Traction Component® in The Six Key Components™ of any business. By setting Quarterly Rocks, taking accountability for actions and decisions, and establishing The Meeting Pulse®, you stay connected and on the same page with your people.
You can find tools and disciplines to help you avoid these common pitfalls in our free EOS Toolbox™.
Pyrrhic Victory in Life
Unfortunately, you can just as easily achieve Pyrrhic victories in your personal life. Yes, you may double or triple your organization’s net worth, but at what cost to your physical, social, and mental well-being?
Success doesn’t need to come from working 60-, 70-, or 80-hour weeks or more. Many entrepreneurs think they have to work harder or oversee every aspect of their business to achieve their goals.
This mindset is a recipe for stress, burnout, and the many symptoms that accompany them. Your entrepreneurial drive doesn’t have to run on overdrive all the time. Finding the balance that offers sustainable business growth while allowing you time to enjoy your success is part of The EOS Life®.
You can avoid Pyrrhic victories in your business and in your life. Running on EOS™ can help you strengthen your business and create the systems necessary to avoid decisions based on unbridled entrepreneurial drive or vague fears.
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