How do you measure success?
There are the obvious metrics when it feels like you are ‘beginning to make it’ as a business owner.
These are usually:
* Profitability – when you can see financial results and start to pay yourself a monthly wage.
And
* Demand – when you have a regular customer base that you can rely upon.
There are, however, key denominators which require continued attention in order for you to maintain consistent results through profit and demand.
These are:
1. Customer Relationships – Are you talking and listening to your customers? Through building strong customer service you create a loyal trust and in-turn, you receive great referrals and reviews.
2. Employee Satisfaction – Without a team, your business will not run. Keeping your employees happy and motivated is the key to success. They will shape and define your business and represent you in your absence.
3. Personal Satisfaction – Are you achieving what you want within both your work and personal life? Running a business often means you never stop. Taking the time to recharge will enable you to stay on the ball and drive your brand forward.
4. Learning and Development – Are you adapting as you grow? Allowing yourself the time to learn will provide you with the market, customer and competitor intelligence to shape a resilient strategy.
5. Personal Time – How you spend your day determines how well you’ve been able to delegate, trust and manage a team. Creating opportunities for others to flourish within your team will create space for you, your family and your friends.
The real measure of success should be defined on how well you achieve all of the above.
Need some help in achieving this? Talk to us!
