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
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