Edition #7: Beat the losing streak

The losing streak is one of the most insidious concepts in business. And we’ve all been there. You’re throwing everything you’ve got at everything you can think of, but nothing’s sticking. Every decision feels cursed, deals turn to dust, targets slip, momentum grinds to a halt. It feels like the harder you try, the worse it gets. You’re staring at a crockpot of failures, wondering what happened.

Losing streaks happen to us all. They’re part of the ebb and flow of business (and life). They can feel inconvenient, humiliating, and usually make you want to move to a hut in the mountains… but they don’t last.

All of which is easy to say. But when you’re in one, you’re in one. And if you let a losing streak spiral, it’ll get worse.

So how do you turn things around? Here are five red flags that indicate a downward spiral, and what to do about them.

#1. Getting stuck in the story

The concept of a losing streak is a story, in which leaders act the part of beleaguered heroes brought low by cruel fate. This kind of failure narrative can be deceptively comforting, giving you something to blame.

But that story is a trap. It shuts down creativity, resourcefulness and optimism. And it’ll drag your team down too.

Remedy: Challenge the narrative frame. Setbacks are temporary; is this really a losing streak, or are you just hitting a statistical blip? Go in search of data. Look for patterns, not proof that you’re doomed. The world doesn’t have it in for you. It just doesn’t care.

This is more reassuring than it might sound at first.

#2. Treating every deal like ‘do or die’

When things are tough, every new opportunity can feel like your last shot. We have to win this, or we’re finished.

But piling on Hero to Zero pressure doesn’t help. It fuels anxiety and narrows your vision. Desperation is the antithesis of decision-making. If you’re convinced that this is your last chance, you’ll ramp up the pressure, lose focus, and scare the daylights out of your team. This is not a winning formula.

Remedy: Zoom out. Look at your track record over the past few years. What have you achieved? What’s working? Remind yourself that one bad result (or even a string of them) is rarely the end.

Grounded, realistic optimism is the discipline and the path. Try to keep your head clear so you can see opportunities, even in the mess.

#3. Panic pricing

One of the biggest mistakes businesses make in tough times is obsessing over pricing. You see it on TV all the time — every failing restaurant on Kitchen Nightmares thinks the answer is to drop their prices or hike them up to ridiculous levels.

Neither works. People don’t buy on price alone. They buy to solve a problem or meet a need. If customers aren’t biting, it’s not because your prices are wrong. It’s because they don’t see the value in what you’re offering. Either that, or you’re not targeting the right people.

Remedy: Focus on value, not cost. Who really needs what you’re selling? How can you make it obvious that your product or service solves their problem? Shift your energy to this, and pricing will fall into place.

#4. The circular firing squad

When the pressure’s on, people crack. Blame flies around the boardroom table. Egos clash. SLT meetings become lengthy salvos of denial and finger-pointing. Before you know it, you’ve not got a senior team so much as a circular firing squad.

This scenario isn’t just bad, it’s catastrophic. If your leadership team is sniping at one another, they’re not leading. And if they’re not leading, the business is rudderless.

Remedy: If this is happening in your company, drop everything and fix it.

Get help to do this. A coach, consultant or mediator can help untangle the mess and rebuild trust. Your business depends on it.

#5. Thinking one win solves everything

After a rough patch, a single win can feel like a turning point. You breathe a sigh of relief and think you’re back on track. But that’s risky thinking. The moment you start celebrating, you stop investigating.

Success after a run of losses is great, and proof that you can turn things around. It’s also your chance to step back, reflect, and make real changes. If you don’t dig into what caused the tough times in the first place, they’ll come back.

Remedy: Mark the win, but don’t stop there. Gather your team, dig into the root causes of why you lost previously, and make a plan to fix them. Otherwise, you’ll be back there before you know it.

Remember that tough times are normal

Losing streaks can feel personal, but they’re not. Everyone goes through them. They’re as much a part of business as bad coffee or awkward networking events.

The trick is not to panic. Don’t catastrophise. Don’t turn on your team. And whatever you do, don’t let a temporary rough patch convince you that you’re finished. You’re not.

Spring always follows winter. Keep going.?

Thanks for reading.

PS This is an edited version of a far more in-depth piece. If you want to explore this theme more fully, read it here.