How Do You Measure Success?

By October 10, 2014CEO Tips, General Biz

It’s not just about sales & revenue – you want to be actively measuring your success in these 3 key areas.

How do you measure success as the purposeful CEO of your small business?

You’ve likely heard some entrepreneurs share “I had a 6 figure launch.” or “Last year we reached 7 figures!” … and you’ve compared your success to theirs. Don’t let yourself fall into this ‘success trap’.

Here are 3 things you can measure to determine the success of your business:

1. Money

The money in your business is more than the revenue that’s coming in – it’s the profit.   

Do you know the dirty little secret out there in the entrepreneur world? Many business owners are not getting paid well by their company; yes, even when their company is making a whole lot of money.    That’s because their revenue may be high, but their expenses are also high … leaving little for profit.

Profit means much more than revenue.  You need to be getting paid in a way that creates success for you and your small business.

2. Meaning
You are a purpose led entrepreneur. I am too. I wouldn’t be sharing this information with you if I wasn’t building my business on meaning.

To measure if you are successful in the area of meaning, ask yourself if you’re happy with the vision of your company. Have you shared your vision with your team, and if so, are they excited about it too?

If you, as CEO, and your team are able to be the best of who they are in your business, you’re doing great in achieving ‘meaning’ success in your business.

3. Freedom
Freedom is the ability to do what you want to do when you want to do it.

Freedom is a big part of why I started my business. It’s the reason many other entrepreneurs have started their business as well.

To measure your success in the freedom department, ask yourself if you’re able to take a vacation and still have your business run without you, or is that virtually impossible? Can you take even a few days off here and there, enjoy weekends off and not work 24/7 … or do you feel like you need to work all the time – day, night and weekends?

If you’re business isn’t set up to run without you, you’re not successful in the freedom area. The good news is, this can be fixed.

I’m curious, as the CEO of your small business, how do you score in each of these three areas?

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