As a new business owner, you want to succeed – that’s the goal. But what does that mean? What does success really look like?
The truth is, success is a little different for everyone. What one business owner wants isn’t necessarily best for the next. But there are a few things all successful businesses have in common.
Let’s take a closer look at the tell-tale signs of a successful business:
Sign #1: Happy and Fulfilled Owners
Business owners who have found success feel happy and fulfilled.
And that happiness and fulfillment should come from both your personal and professional life. Mariah Coz shares that your business isn’t your sole source of fulfillment; it is simply a tool you can use to help you find purpose.
Creating work-life balance won’t always be easy. There will be times when you feel stressed or overwhelmed, but at the end of the day, you should feel your business is serving your clients and you.
Sign #2: Great Company Culture
The most successful companies have a great culture that employees are happy to be a part of. Most Americans spend more of their waking hours at work than anywhere else, so it’s critical for employees to feel like they belong and that they’re appreciated and valued.
The best companies know this and work hard to create an on-the-job environment that is respectful, supportive, friendly and empowering. It’s no coincidence that the happiest workplaces are at some of the most successful firms!
Sign #3: Impactful and Purposeful
Successful businesses make an impact in the world. Whether you make philanthropic contributions or not is up to you, but it’s important to understand what makes your business unique and how you can use this knowledge to positively impact your community and the world around you.
This doesn’t mean that you need to donate tons of money to charity or focus all of your efforts on giving back (you do need to make a profit after all!), but you should be helping your target audience solve their problems and live better, happier lives. Giving back in other ways is just a bonus!
Sign #4: Satisfied, Loyal Customers
Customer satisfaction and loyalty are key metrics to determine if your small business is a success. After all, you wouldn’t be in business without customers!
There are several ways to measure customer satisfaction and loyalty. Look at factors like your customer retention rate, reviews, referrals and repeat buyers. Happy customers will keep coming back for more and have great things to say about you as one of their favorite businesses!
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Yes, money is one of the key indicators of a successful business but there are other signs that you’re killing it. If you are happy and fulfilled, have a great company culture, are making an impact in your community and have satisfied, loyal customers, you’re doing it right!
Want to learn more about building a successful business? Everything you need to know is right here:
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