5 Ways To Measure Success In Business

After many stressful days and many sleepless nights you made it. Things start to change, money start coming in. There are more customers, more happy faces. You start enjoying it and feeling happy. It seems you are on the way of accomplishing your goal.

Does it feel like success? Yes. Ok, but how can we really measure the  success?

Success is not reaching your goals, success is a never ending process, also defination of it differs from people to people from place to place. Success is an ongoing process, enjoying what your doing and always adding value to your business, to your life and other people’s lives too.

Usually success in a business is measured by results, by income profit. Then again if you achieving fantastic results but your not happy with what your doing, you hardly can call it success.

Measuring success in business depends on each individual. Let just take an example. You have a start up business and you building up slowly . Even though you haven’t make much profit you still call it a success. You are happy seeing it grow and what you achieved so far.

There is 5 ways to measure success in business.

1 – Growing profit.

One of the main reasons everyone start their own business is generating a good income. Also when measuring success in businesd first thing people ask is: is the business making money? Is it taking a profitable income? So the profit is a main point to measure financial success. Profit is a financial benefit that is realized when the amount of revenue gained from business activity exeeds the expences. Profit is the money  is left after paying all the operational activities, from bills to the wages of employees in your business. So if you making  good profit things are looking great in your business.

2 – Customer growth.

If you can tell a difference, a little difference each day by growing number of customer in to your business that is another good sign, that you business is moving in right direction.

In fact working hard on growing the customer base is building great foundations for your business. They come buy from you go and come back time after time after time. Reaching the target market is what your business is all about. The growth of customer base means the growth of your company.

3 – Customer contentment.

You only grow your business by working closely with your customers. It starts all by treating them with respect. Understanding their needs and complying by their needs, it’s a step towards buliding a good relatinship with your satisfied customers. This is another indicator of measuring success.

4 – Employee contentment.

Your employees are the most substantial asset in your business. They are the face of your business, they are the driving force behind success. Showing gratitude and rewarding them means that they are satisfied and always will go that extra mile if they have to.

5 – A satisfied leadership.

At last but not least your success will measured by how happy  are you feeling with whole thing. Being dissatisfied even with good results can’t be called a total success. Let me be clear about this as it seem here you dealing with two contradictory thoughts. So getting the results feels great but success is defined as being happy too. So can you call it a success if you not happy? On other hand if you as owner and leader are enjoying it, that’s a good indication to success.

Success is not some achievements, is not a destination, is a continuous process that’s add value to your life, your family life, and other people’s lives.

Photo Credit Pixabay

Advertisements

6 responses to “5 Ways To Measure Success In Business

  1. For some reason, most companies don’t ever really consider #4. With that, they have a high rate of employee turnover. Companies like GOOGLE and Skype treat their employees with such immense care and put their interests first. Most of the Fortune 500 companies use this as their motto and that’s why they are as successful as they are. Nice post Seb!

    Liked by 1 person

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s