How Do You Measure Success?

I delivered a workshop at a Youth Entrepreneur Conference on the 24th of February 2013 on “How to Bring your Business Idea to Life”. It was a great conference with so much “Can-Do” energy. I was intrigued by a question a young man asked me. He asked “what is your definition of success?”

1415055_business_graph sheela2010

That question got me thinking for a while about what success truly is. Most of us want the finer things in life – in varying quantities. Are we willing to sacrifice that inner deep emotional need for fulfilment for these other things money can buy? My answer to this young man was “success means different things to different people”.  To some of us helping more people however we can is our definition of success. The good news is money is normally a by-product of doing what you love – if done the right way. Even Sir Richard Branson testifies to this.

Monetary Value

Some people measure success by monetary values, how much money we have in the bank or coming into our businesses? To some, whether things work out outside of the process of making money doesn’t matter. Money is a defence according to the bible so it’s therefore a necessity for daily life. If money is the true measurement of success, why do some rich people still end up miserable? This is a good indication that money is not the only measurement of success.

Adding Value

Like me, some people’s success is linked to the number of people we can help or add value to their lives. This can be through the products or services that we sell. It can also be the assistance we render through compassion for others, charitable deeds, social enterprise or a community group.  It can also be through motivating, inspiring, teaching or uplifting others.  In the process of adding value to the lives of others, the life of the giver is also enriched.

Fulfilment

1181306_jumping_couple_2 lusiFulfilment in doing what they love and enjoy is all that matters to some people. They may have a job that pays the bills, but their spare time is spent doing what they truly enjoy with no cognition of time, money or effort. To this group of people finding fulfilment is their own definition of success. At Business First Steps we believe what you do should be a lifestyle and not a chore.

Define Your Success Parameters

As business owners or start-up it is important that we set the right objectives for starting and developing a business from the onset. You do not want to get halfway through your business journey and throw in the towel because you aren’t fulfilled. The problem when things fail in most cases is not just the business model, but also unrealistic expectations, incorrect definition and measurement of success.

Knowing what you expect from your business when you start out will give you a good way of gauging your progress and success. For example, your aim could be to help 10 women set and achieve their short-term goals in one year.  This can be done voluntarily or for a fee.  The measurement of success is not how much money you make in the process, but how many women actually fulfil their short-term goals in a year.

The definition of success is determined by you. So spend some time questioning yourself to find out what you use to measure success in all your endeavours.  Once you have got your answers set goals, take action and aim for the sky.

What does success mean to you? How do you quantify success in your life?  I will love to hear from you so please comment below.

Your Partner in Business

Temi Koleowo

We love to help people define their passion and do what they love and enjoy. If you are still searching then get in touch and let’s dig and discover together. Business First Steps

Photo by Lusi & Sheela2010 sxc.hu

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