Get All Access for $5/mo

4 Challenges That Make First-Time Success Hard to Repeat Failure famously teaches valuable lessons but if at first you succeed, do you even bother to try again?

By Tor Constantino Edited by Dan Bova

Opinions expressed by Entrepreneur contributors are their own.

Every first-time entrepreneur works hard to see their dream become a reality, to fulfill their vision, achieve big goals -- in a word, succeed.

However, there are four pitfalls to success the first time around that entrepreneurs don't typically consider when in hot pursuit their initial dream, vision and success.

Related: 10 Tips for the First-Time Business Owner

1. What's next?

It's not uncommon for entrepreneurs whose singular focus on achieving success for the first time, experience a sense of disappointment or even depression once a lifelong dream is realized.

This concept is embodied in the famous misquote from Plutarch's Tranquility of the Mind.

"Alexander (the Great) saw the breadth of his domain and wept for there were no more worlds to conquer."

While the misquote above partially makes the point, it's helpful to read the actual quote below:

"...when Alexander heard from Anaxarchus of the infinite number of worlds, he wept, and when his friends asked him what was the matter, he replied, 'Is it not a matter for tears that, when the number of worlds is infinite, I have not conquered one?'"

The fact that Alexander had not conquered every world made him weep, but first-time entrepreneurs can find inspiration if they give a little forethought to the infinite possibilities of the next "world" they might aspire to conquer following their first campaign of success.

2. Expectation anxiety.

This is a common question among Olympic-winning athletes, Oscar-winning performers, astronauts who've gone into space and successful entrepreneurs. There are no obvious honors that are higher than those mentioned, so what's the next achievement that will deliver the same challenge and euphoric pursuit for the driven individual?

Former Baltimore Ravens head coach, Brian Billick, often shares the story of the panic attack he experienced in the shower the night his team won their first Super Bowl in 2000. As a second-year head coach he said the expectations seemed overwhelming at the time.

To combat such expectation anxiety that can follow first-time success, many entrepreneurs come to the realization that the most rewarding pursuit after they achieve success is philanthropy. There's a reason why Bill Gates and Warren Buffet gave billions to a charitable foundation.

Related: The 7 Most Fascinating Things Bill Gates Said in His Reddit Chat

3. Complacency.

I experienced this firsthand when I first started running full marathons. I trained hard and ate properly leading up to my first two - setting personal-best times in each race. I thought I had "cracked the code" to running 26.2 miles without stopping. Because of that confidence, I took a relaxed approach to my subsequent training and eating regimens.

Needless to say, my third marathon was a rude awakening where my race weight was 10 pounds heavier than my previous races and it took me three extra hours to finish it.

I've since rebounded, completing three full marathons in my previous form - but that doesn't change the fact that I let my initial success devolve into avoidable complacency.

4. Inability to handle success.

This is one of those pitfalls most people dream of experiencing, that is until it actually happens to them. While this pitfall is most commonly associated with rock stars, actors and professional athletes - think Kurt Cobain, Lindsay Lohan and Johnny Manziel - successful entrepreneurs are not immune.

One of the best ways that first-time entrepreneurs can avoid this pitfall is by surrounding themselves with a team of advisors or enlisting an experienced mentor to help guide them through the trappings that can accompany success.

The pursuit of entrepreneurial success can be all consuming within the mind of a driven individual, so it's helpful to give a bit of preventative forethought to these possible pitfalls.

Related: Richard Branson on the Secret to Success: Failure.

Tor Constantino

Former Journalist, Current PR Guy (wielding an MBA)

Tor Constantino is a former journalist, consultant and current corporate comms executive with an MBA degree and 25+ years of experience. His writing has appeared across the web on Entrepreneur, Forbes, Fortune and Yahoo!. Tor's views are his own and do not reflect those of his current employer.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Starting a Business

I Left the Corporate World to Start a Chicken Coop Business — Here Are 3 Valuable Lessons I Learned Along the Way

Board meetings were traded for barnyards as a thriving new venture hatched.

Business News

'Passing By Wide Margins': Elon Musk Celebrates His 'Guaranteed Win' of the Highest Pay Package in U.S. Corporate History

Musk's Tesla pay package is almost 140 times higher than the annual pay of other high-performing CEOs.

Business News

Joey Chestnut Is Going From Nathan's to Netflix for a Competition 15 Years in the Making

Chestnut was banned from this year's Nathan's Hot Dog Eating Contest due to a "rival" contract. Now, he'll compete in a Netflix special instead.

Marketing

Are Your Business's Local Listings Accurate and Up-to-Date? Here Are the Consequences You Could Face If Not.

Why accurate local listings are crucial for business success — and how to avoid the pitfalls of outdated information.

Money & Finance

Day Traders Often Ignore This One Topic At Their Peril

Boring things — like taxes — can sometimes be highly profitable.

Growing a Business

He Immigrated to the U.S. and Got a Job at McDonald's — Then His Aversion to Being 'Too Comfortable' Led to a Fast-Growing Company That's Hard to Miss

Voyo Popovic launched his moving and storage company in 2018 — and he's been innovating in the industry ever since.