This month, Business Support Specialist Heidi Green discusses how success means different things to different people.
Success can mean different things to different people. This is why having a vision for your business is crucial – it stops you comparing yourself to someone else. Have your own definition of success and work towards that.Naturally you want a stable and profitable business.
You will need to cover the business expenses and ensure you have sufficient capacity for personal expenses, having sufficient money to live a comfortable life, but is that enough?
Be realistic in your expectations for financial growth; don’t set yourself up to be disappointed by being overly ambitious. Knowing where you are now and where you want to be helps you to devise the strategy to get there.
Do not lose sight of the ethos that underpins your business. Customer service is vital to keep people coming back and ensures your staff understand your expectations.
Measures of success can be expanding your services, moving into larger premises or increasing staff. These are great milestones for your business but may initially have a negative impact on the financial situation. So remember, the financial position is not the only marker of success.
Work/life balance is important; you need to ensure your business can run without you constantly working long hours. Learn to delegate – a great measure of success is you being able to take holidays without worrying about the business. Celebrate every milestone, reward yourself and your staff and your business will go from strength to strength.
Heidi Green, Senior Business Adviser for Selby District Council – firstname.lastname@example.org – 01757 292332.