Most people strive to be successful, but success can be hard to define and even more challenging to measure.
As a business owner, how do you know if you are successful?
Try asking yourself the question โam I successful?โ and see what evidence comes to mind. If you have a big house and substantial net worth, are you successful? Assume you are a leader in your industry, does that mean you are successful? If your business is profitable and growing, does that equate to success? Maybe not.
It could be none of these have anything to do with success. What if you are still unhappy or feel like you are leading an unfulfilled life? What if you do not enjoy what you are doing? One could argue that assets, net worth and top industry performance are simply the result of a well-run business. They may not be indicators of success.
Simon Sinek, renowned author and leadership expert offers interesting insights on how to define and measure success. According to Sinek, success is measured by the momentum of your business.
First, you must first be passionate about what you do for a living. This is a key ingredient to leading a fulfilled life at work. Then you must define the purpose of your business, the very reason your business exists. Once you define the purpose of your business, set long-term goals based on that purpose.
Your job is to push the business along and help it achieve momentum. Is your business moving in the right direction? Is it getting easier to run and manage every day? According to Sinek, once your business achieves enough momentum to continue and achieve the goals of the organization without your assistance, you are successful as a business owner.
Granted, there are many other ways to define and measure success. Measuring the momentum of your business is just one way that might work for you.
