Definition of success


5 points to ensure your small business measures up

1. Good reputation

A company with a good reputation is one that sells itself. The definition of good takes many forms:

  • does the work excellently
  • does the work on time, on or below budget
  • gives customers more than they ask for: overdelivers on service, provides good bargains, treats them with respect and dignity, values their time and opinions
  • follows good business practices: honest, looks out for the buyer, is socially responsible
  • treats its employees and contractors well: realizes that they need their potential fulfilled, pays on time, values employees opinions, provides challenging work, respects their work, personal and business time

2. Good income

  • Provides the entrepreneur with the funds they need to run the business and expand it.
  • Funds to perform business functions: pay for supplies, extra help, marketing, office space
  • Funds to earn an income for personal needs
  • Funds to do extra: bonuses, discounts, customer deals

3. Fits your lifestyle/allows you to lead your ideal lifestyle

  • Business can be done within decent hours
  • Leaves time for you to develop and maintain relationships with family and friends
  • Leaves time to volunteer and explore different passions
  • Opens doors for you professionally, links you to like minded professionals
  • Shows people in your community your expertise so they call on you to take on new and exciting projects.

4. Good customers are people:

  • who crave your business and seek you out
  • whose work can be done within good timelines
  • willing to pay for fair work at a fair price
  • willing to rRecommend you to others
  • who become repeat customers

5. Good procedures; so processes are consistent

  • Business should be able to run itself without you there
  • Automate procedures, so you and your people know what to do in routine situations
  • Automation means that tasks are conducted in a similar manner. This brings consistency which implies reliability

 
About LifeBizBalance

LifeBizBalance teaches entrepreneurs how to start and run businesses which are flexible and leave you time to balance all aspects of your life. 

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