This week, I’ve been thinking a lot about ‘what a successful business means to me’. Is there a moment when you finally think you’ve arrived? When all your hard work has paid off and you can sit back with a well deserved drink and say that truly your business is now on the map?
A lot of people seems to think about the success in their business in terms of income. I’m sure that’s not everyone, but judging by the amount of advertisements in my Facebook timeline unless your business doesn’t have a 6 figures income, you are basically a looser.
It’s easy to be envious of seemingly successful people, but then success is so relevant, isn’t it? Is my business less successful, because I’m not a singer, come fashion designer and I don’t have a shop in upmarket part of London? On the hand, my husband didn’t need to bail me out with 3 millions when said shop went bust last year. So was that shop a business success? I’m not entirely convinced…
Back in my world I’m looking at my monthly accounts and thinking to myself what a success really means to me. When I started my business about 5 years ago, I set myself a target of earning an equivalent of a full-time job on a minimum wage. I thought I needed to start somewhere and since I didn’t know what the potential earnings could be, I need a start base. Some people might think that’s too low, but I figured out that if I can make that, I won’t get ‘why don’t you rather go a work in Tesco’s’ from my husband. Not, that there is anything wrong with working in Tesco’s.
But, I’d rather underestimate then overestimate and needless to say, that I’ve easily done better then my first year target, which is good because the bills get paid and I get to keep my car.
So aside of money, how else you can judge whether you business is successful?
I guess the next on the list, is the reason why you started your business in the first place. Was it because you wanted to spend more time with your children? Or travel? Or work less hours?
Here is why I like to think my business is a success
- I do what I love. Most of my hobbies become part of my business in one way or another and I feel very, very grateful for that
- I can work flexibly, whatever time it’s best for me, not my employer. I’m useless at getting up early and love working late at night
- I can take a day off when I know I will just sit in front of my laptop and procrastinate. I’m better off going out for a long walk and get stuck in the next day. I’m pretty sure I get done more that way
- I don’t have to go to boring networking meetings. I only choose the really good ones and have a fun with it!
- I don’t have to wear a work suit and high heels all the time
- And loads of other little everyday things, like having a tea that doesn’t get cold by the time I drink it…
I also think, that celebrating small steps on the long road to success are equally important especially when they are a pleasant surprise.
One such small note of recognition happened to me when I was searching in my bread baking and chocolate making website Google analytics. Amongst all the data, I came across a search for Magdalena Marsden, entrepreneur. Mo matter that it was misspelt. Someone looking for me had entered the word ‘entrepeneur’ next to my name and it wasn’t even on my business coaching website!
I happened to mention this to my husband over a late breakfast and he replied: ‘Poetry in motion’.
What?, I said.
Well, you’re only a poet when someone else calls you by that name!
So much for small victories along the way. Now, I must look up what being an entrepreneur actually means.
I’ve a title to live up to…
But before I go, I’m curious to know what does having a successful business means to you? I’d love to know so leave me a comment and I look forward reading your replies.