What does success look like?

As an online business manager, I work with a lot of successful, driven and ambitious entrepreneurs. Success can mean many things to many people, from making money to having more family time, but what does success look like to you?

In this blog, I am going to take a look at why success is difficult to define, and help you to discover your answer to ‘What does success look like?’

If you are too busy working in your business and need help to work on your business, contact Elaine at Spero Solutions to discover how an online business manager can help you achieve clarity and work towards your definition of success.

What is success?

We all want to be successful, but what is success?

Unfortunately, there is no one size-fits-all answer to this question. What you term as success may not be the same as someone else because your values, goals and circumstances are completely different.

Equally, the values, goals and circumstances you hold dear at the beginning of your business journey may alter over time, changing the answer to, ‘What does success look like?’

Let’s take a look at some key factors influencing our definition of success.

Personal values

Success is a reflection of our personal values. These provide a firm foundation for everything we do, in life and business, making the definition of success as variable as we are.

Conflict between the personal and business parts of your life may make it difficult to pinpoint what success means to you.

Cultural influences

Cultural and social backgrounds exert an influence on what we understand by success. In some cultures, wealth and providing for a family is everything. Whereas in others, success could be about supporting the wider community.

Changing priorities

During different life stages the answer to ‘What does success look like?’, may change.

When young, success could be determined by how much money you make. However, as you get older, priorities may change to focus on wellbeing, spending more time with family and friends or giving back to the community.

External pressures

Society’s definition of success may not be the same as yours. The TV schedule is packed with so-called reality programmes that show success as fame, wealth, status, and popularity.

However, the societal definition of success may not align with your personal values. It can be difficult to forge your own path if you are influenced by external pressures.

Time

Short-term and long-term goals may provide conflicting criteria for success. Trying to balance quick wins with long-lasting achievements can be a challenge.

It's important to find a balance that works for both immediate goals and bigger dreams, when defining what success means to you.

Fear of failure

Many people are driven by a fear of failure, making their vision of success uncertain. They avoid setting specific goals because of the disappointment of failing to reach them.

It's important to recognise that the biggest growth often occurs outside our comfort zone, and whilst the fear of failure is real, it's crucial to embrace challenges and set clear objectives to progress.

Self-worth and mindset

The definition of success is often tied to psychological factors such as identity and self-worth. How you view yourself and your accomplishments will shape the answer to our question: ‘What does success look like?’

What’s more, ambition influences how individuals see success. How much is enough?

What is the definition of success?

There is no single definition of success.

Success is transient. It is subjective and multifaceted. It depends on personal values, cultural and societal influences, the balance between short and long-term goals, and how individuals view accomplishments.

When you started your business and defined your goals, what did success look like? Was it all about making money? Or did you have different goals?

In my experience, success is more about having purpose, owning your time, making an impact and taking care of your family.

It is important that from time to time you reflect on your raison d’être. You may like to read my blog ‘What to do if you fall out of love with your business’, in which I share five steps to help you regain focus by reminding yourself of the main reasons for starting your business.

Taking this time out will help you to see whether your goals have changed. If they have, you need to decide your priorities to redefine what success means to you now.

To help you to define (or redefine) your vision of success, here are a few key areas to consider:

Financial goals

Attaining financial stability through profitability is what drives many small business owners. They measure success on the ability of their business to generate more revenue than expenses, invest in growth, and have manageable debt.

Personal goals

You could measure success by achieving that all-important work / life balance, to enjoy work without time pressure, and having enough time to send with family and friends.

You can achieve personal satisfaction by doing something you love and making sure that your business is closely aligned to your personal goals.

Building systems, processes, and a team you can rely on to run the business while you are absent could dictate your success. For more advice about engaging an online business manager to help you clarify business goals and achieve your definition of success, call Elaine at Spero Solutions on 07846 754 747.

Growth goals

Success in business could be achieved by;

An expanding customer base
Increasing sales
Creating more jobs
Achieving a bigger market share
Opening more branches
Diversifying into new business areas of business
Introducing new products / services.

Social goals

You may define business success through your contribution to the local community, including creating more jobs, partnering with local businesses / suppliers, sponsoring local charities or being active within the community.

Brand goals

Success to you may be building a brand with strong emotional links to your target audience, fostering growth through repeat business and word of mouth recommendations. You could base success on positive customer reviews and building a good business reputation.

Alternatively, you may want to leave a legacy, ensuring your business can be passed down to your children or sold for a profit to provide financial stability for your retirement and their future.

Employer reputation

Some companies measure success by establishing a strong workplace culture that attracts the best-qualified candidate and fosters employee loyalty. The workforce is their brand, and they emphasise that success is built on employee satisfaction and longevity.