Webster’s Dictionary Defines ‘Success’ as…
Let’s be honest. If you are reading this, you are a relatively competitive person who wants to succeed. But what does ‘success’ really mean to you? Well, it’s never too late to figure out what it means to succeed.
Most business owners think success is a mix of personal and professional factors, so how do you decide what ingredients go into your mix? Here are some points to ponder as you decide what it means for you to succeed.
1. Profit
We are sorry to break it to you, but there is no getting away from this measure of success. As the owner of the company, you probably didn’t go into business to lose money. You also probably want to create some wealth and security for yourself and your family.
Of course, it is up to you to decide exactly what kind of profit you want to consider yourself successful. You could be content covering a share of the kids’ school fees, or you might not rest until you have launched your IPO. That decision is up to you (and maybe your accountant, too).
2. Personal Satisfaction
Although money is important (and if money does make you happy, we are not here to judge!), remember to enjoy the satisfaction that comes with the process of creating, problem-solving and the daily ‘wins’ that come with owning and managing your own business.
Successfully facing challenges and digging deep to use skills and strengths you did not even know you had can give you a real sense of purpose. So, take a step back and revel in the fact that you started with the idea that has now grown into something of its own. Recognition is important to most people so don’t be shy to admit that it drives you too.
3. Customer Satisfaction
When you are plodding through your accounts receivables, or you are on the phone with IT for the fifth time that month to fix a problem with your email, it can be easy to forget that you are out there helping people find solutions to their problems.
People are choosing your business because it enhances their lives in some way. Don’t be shy about embracing that as an accomplishment.
Just keep in mind that customer satisfaction can be measured online (reviews, social media, etc. and offline (face-to-face interaction, surveys, etc.), and can be used as a catalyst to continue improving your product or service to ensure customers remain with you long-term.
4. Employee Satisfaction
Though employees may be both a blessing and a curse, their job satisfaction should be a high priority for any business owner. And we are not talking about how much they like you—this isn’t high school.
We are talking about whether your employees feel valued, are growing professionally, and if they contribute to the growth of the company.
Building a respected workplace is no easy task, but when your employees are happy with their jobs, they tend to work harder, stay longer, and become more committed. While achieving employee satisfaction can be considered a success all Your definition of achievement will be unique to you, and it may have some, none, or all of the points we discussed. What is most important is that you think about what business success looks like to you, how it works for you both personally and professionally, and how you can reach that goal.
And once you do (because we know you will) remember to never rest on your laurels! Do not stop innovating your products and services, and keep your business’s work environment fresh and exciting. Now get out there and start succeeding!