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What is your definition of success in your business?
Financial performance has been ingrained in our culture as a key marker of success, often used as the standard for measuring or comparing our own business achievements. And while the bottom line in your business is important to some extent – it’s not everything.
Let’s explore some alternative success metrics that might inspire you and influence how you craft and grow your business moving forward.
Business books that you likely don’t need to read
In the business world there are certain rights of passage often promoted as being “required” of entrepreneurs and business owners who want to be successful. From business books, to hustle culture mentalities, to marketing yourself in specific ways, you’ve likely felt pressured in some way or another to conform to a certain way of being in order to get your business out into the world.
And while there are plenty of “successful” people advocating for these very restrictive entrepreneurial guidelines, I appreciate when people push back on some of the widely accepted narratives and approaches to business. So, let’s talk about some folks that aren’t in this category and why they shouldn’t be considered essential reading.
Challenge the status quo with your business—in good faith
Hardly a day goes by where we don’t hear about a new change Elon Musk has made to the world of tech.
And while these changes are often framed (at least by Musk) as “advancements” to the industry, many critics (myself included) are wary of the impact of these – often seemingly abrupt and impulsive – changes.
Because while there’s no doubt Musk is challenging the status quo in all of the industries he has his hand in, my concern is that he’s doing it to build his ego, not for the benefit of society.
Small But Mighty Episode 26: Lisa van Reeuwyk on achieving balance in business
Karen Wilson invites Lisa van Reeuwyk, a business coach who runs Bloom Business Development, to the show. Lisa is Karen’s own business coach and an entrepreneur, she understands the ups and downs of business and the power a positive mindset can have on success.
The importance of documenting business processes (even for small businesses and entrepreneurs)
By laying all of the steps you take to accomplish various tasks or complete recurring projects out in a document or program, you've created a basic standard operating procedure (SOP) that will help your business thrive.
Documenting processes and procedures, even as an entrepreneur or small business saves time, and can support productivity, business growth and hiring, consistency among outputs, and regular review and analysis to improve efficiency.
Goal setting: Know where you're going so you can make a plan to get there
Having a clear process for establishing business goals and scheduling time for a regular reassessment of them is almost like figuring out the driving route you’re going to take for a vacation.
Without directions, even if you have a destination in mind, you’re likely going to end up lost, frustrated, and late, because the trip will most certainly take longer than if you had simply sat down long enough to figure out your route before you start.
And without regular reassessment, you might end up moving towards a destination that’s of no value or interest to you anymore.
Instead, if you set strategic goals that make sense for your business and your marketing endeavours, you can break down the steps it takes to accomplish them and will have a clear path towards success.
Sometimes a shortcut doesn’t seem like a shortcut
Advice and ideas come from so many people and places, with promises of great results. But the routes they want you to take can be so much longer and hurt your business by not working as expected.
In truth, strategic planning is a shortcut. It just doesn’t seem like one. It takes time and thinking and it can even be a difficult investment in your business.
What are your values and beliefs?
I don’t know the answers to the big problems in the world. But I’ve done a lot of thinking about my role as an individual and as a business owner.
This year, my one word is “values.” I made a commitment to myself to make both personal and business decisions this year in line with my values. It’s not always easy, though.
WIBs and WOBs: Prioritizing time and energy in my business
Make time and leave space for intentional work on your business. Be creative. Be innovative. Think differently about how you can make a difference to your clients and customers.
And enjoy the gift of clients who share your vision when that happens, too.
Small But Mighty Episode 2: Karen Fiorini, RF Success Academy
Karen Fiorini has had an interesting path to her current business and she kindly agreed to come on and talk about the transition and how she arrived at this new venture. I hope you enjoy hearing her story and how she’s helping others find their own success through her business, RF Success Academy.
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