Do you no longer feel challenged by your current job or assignment?  Are you bored?  What do you do next when it appears you have accomplished all your goals?  There has to be more to this life than this, isn’t there?

In yesterday’s USA Today, legendary Olympic swimmer Michael Phelps is profiled in a front-page article as he prepares for the 2012 games in London.  After winning 8 Gold Medals in the 2008 Beijing Olympics, he truly has nothing left to prove.  He is the best ever.  So what is he doing now?  The following are lessons from his experiences and current preparation for that all leaders can learn from.

  • Golf Over Practice – Let’s be honest, you should enjoy the fruit of your labors.  Phelps has.  Getting him to practice has sometimes been a challenge as he has gone golfing instead.  The dark side of success is often a lack of motivation.
  • He Will Enter Fewer Events – Andy Stanley states, “Leaders accomplish more by doing less.”  Accomplishment affords leaders choices.  Phelps is selecting only a handful of events in which he will be the most competitive.  If you have accomplished all your goals, be selective in choosing what to do next.
  • Create New Milestones – There is one Olympian more decorated than Phelps with his 14 gold medals.  Russian gymnast Larisa Latynina has 16.  With three more in 2012, Phelps becomes the sole record-holder.
  • Establish Targets Instead Of Goals – As writer Vicki Michaelis says, “That allows Phelps to focus on incremental improvements and not get overwhelmed by the grandiosity of what is within grasp.”  Focus on incremental improvements instead of major accomplishments.
  • Learn To Deal With Failure – Because of his lack of practice, Phelps has began to lose more frequently than in the past.  Because of a lack of motivation and preparation, you simply will not be as effective as you have in the past.
  • Discover New Motivations – Phelps has learned that he still hates losing.  It is in the losses, that Phelps’s motivation has returned.  He says, “It’s probably better for me than staying on top, to be 100% honest.”  If nothing else, leaders will still perform as a high level because they often hate losing more than they enjoy winning.
  • Better Competition – Your competition never sits still.  While Phelps was enjoying his life, his competitors were training hard.  Your’s are too.  And we will find out at the upcoming world championships if they have caught him for good.
  • Prepare For Loss Of Credibility – If Phelps does not win gold medals in each of his events at the 2012 Olympics, critics will be sure to point out his faults rather than focusing on his stellar career.  All successful leaders have critics they must be prepared to deal with.

Boston Red Sox general manager Theo Epstein told the Sporting News, “The ability to fit into the team concept and internal motivation usually play well in our market.”  If you no longer feel challenged in your current leadership responsibilities, internal motivation will play well in your market as well.

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