How Do You Measure Success?

By suphakit73, Stock Photo - image
By suphakit73,
Stock Photo – image

As we approach the end of another year, it’s a good time to reflect on your business and how successful you were. So, how do you measure success? For some, success is determined by profits and growth. For others, it is determined by business relationships and customer satisfaction. I believe a mixture of all of these factors are the key to prosperity.

Profit

Is your company making money? Financial success is a major component of how well your business is doing and we all know that the more money you bring in, the more you can put toward your business. Increased profits mean increased employees, marketing, and technology to help your business thrive into the future.

Customer Satisfaction

Satisfied customers indicate you are on the right track. You have figured out who your base is and how to connect with them in order to build a foundation that will continue to grow. Satisfied customers will spread the word in their excitement to share their experience with others, however, it’s also always good to maintain quality customer service to turn unhappy critics into your allies.

Management Satisfaction

Whether you manage a team within the company or are the owner, your fulfillment is of prime importance. Your happiness in the current situation and outlook for the future are the stable force and guiding light of your leadership. The only way to continue to prosper in all aspects – profits, employee and customer relationships, and inspiration for the future is to stay true to your goals. As you do so, the rest will fall into place, with the assurance that all is well and the company is secure.

By staying aware of the overall health of your business and taking the time to touch base with your management goals, your employees’ goals, and the needs of your customers you will be able to stay firm in your growth and customer loyalty, knowing you are successful and will be for years to come.