Solopreneurs get asked this question at networking events frequently: “How will you know your business is a success?” This means that you must have your definition of success ready.
I’ve been noticing a lot of YouTube adverts lately that give you a tour of someone’s luxury house and pool or a tour of a huge garage filled with high-end sports cars. The punch line is always the same – “Sign up for my program and you can be successful like me”. These ads are intended to push your envy button. But is business success really about having? Only you can answer that question.
Solopreneurs must be clear on their personal view of success before they are able to define business success. Can they answer these important questions?
My Personal Definition of Success
- What makes me truly happy?
- What is really important to me? What are my values?
- What people are in my life and what do I want for them?
- What do I fear?
- What do I want to accomplish?
- What do I want to learn?
- How do I define failure?
- How do I define fun?
- At the end of my life, what do I want my obituary to say?
Many of us have fleeting thoughts about these questions but you would be amazed at the clarity you gain through the process of writing the answers down.
Now that your personal definition is clear, it’s much easier to define business success because you now know what motivates you.
Record Your Business Success Plan
- Be very specific in your answers
- What do you want the business to achieve for you?
- What outcomes do you want to achieve for your clients?
- What are the basic costs required to accomplish this?
- What income must the business generate to cover these costs?
- How will I cover the slow business times?
- What profit must it generate for me?
- What measures need to be tracked on an ongoing basis?
- What steps are needed to achieve this success?
Find a Related article on success: Recipe for Success.
Mindset Monday Challenge
Have you defined success clearly for yourself and your business? Have you given it your best effort?