When you’re not sure what to expect, it’s hard to know what’s considered a “job well done.†And because of the unknown’s, we begin to ask ourselves: the “whoâ€, “whatâ€, “whereâ€, and “how’sâ€. How do I know if my business is successful? What if this isn’t what I am really supposed to do? How do I know if I am on the right path? How can I tell if it’s working?
The unknown can and will drive you crazy if you allow it to. The best barometer to measure success for entrepreneurs is setting goals each day and asking yourself what you made today. Did you make or take today? In other words, did your customers give you money, or did they compensate you for your ability to create value? Did you write a blog worth reading?
Early success is about getting feedback. This is where you learn about yourself and what parts of what you’re offering need improvement. Take in any and all of the feedback that you can get in order to help assist you with creating an even better product. Take this time to understand how your business influences your target audience. It’s about knowing, through first-hand experience, what you like and what you don’t; where you add the most value and where you are consistently wasting your time.
Most entrepreneurs start off thinking money is the one and only baseline as to where success is measured. My question to you is, do you really think the amount of money you make provides an accurate scorecard for success? What if the monetary turnaround isn’t where you want it to be or you end up in the red? Do you give up and throw in the towel?  Looking to revenue constantly creates the cycle of churn and burn and can become discouraging. Money is a result of work, however; it can be misleading. It can become a hindrance down the road, because it may take your eye off the important business building tasks for long-term growth.
When you’re just starting, measuring success is extremely important so that you know what to do and what not to do. Just keep in mind and accept that learning more equals earning more. Test and measure everything.  You can’t reinforce change if you don’t measure. However, using the notion of tracking will feel like overkill. But focus and improvement spring from the habit of constant measurement.
Start with creating your benchmark a starting point. This would be your baseline plan which is essentially a snapshot of your expected progress and eventual outcome. Â Write down your intentions for the week, month, and year to come. Again, the easiest way to measure success is based on a dollar amount. What happens when the money is scarce?
Below are different ways outside of a dollar amount to measure success:
- Learn from you consumers/clients and discover why customers choose you.
- Obtaining feedback about your products and services, will assist you in determining what is working and what needs improvement.
- Gauge your success by the number of uplifting events that occur during the day-to-day operation of your business.
- Your Satisfaction. Are you satisfied with the direction your business is headed in?
- Leads acquired and customer conversion.
- Social media success.
-Latoya Chandler
About Latoya
Author. Single Mom. Entrepreneur. Blogger
These are all titles that describe the talented Latoya Chandler. Nestled in the “Big Apple†(New York), this single mom turned entrepreneur has grand
aspirations and creative attributes within the literary world. Her passion for perfecting characters into fictional art contributes to her coaching/mentoring
others to embrace and express their similar experiences.
Latoya’s dedication and passion have allowed her to emerge as an author, mentor, and publishing coach. Her name is credited towards over twenty published works as either the author or publisher. Her voice and vision have provided inspiration and motivation for numerous published and aspiring authors.
When Latoya is not coaching, reading or writing, she is spending time with her first love; Family. She takes extreme pride in being an example for her five (5) loving children and doting on her very patient better half. They are the driving force behind her drive along the journey of continuous evolvement as a single mom turned entrepreneur.
After years of self-publishing, Latoya took a leap of faith to find a major publisher, securing her place on the team of powerhouse publishing company Urban/Kensington.
