A question for the entrepreneurs…
How do you measure your company’s success?
There are a lot of possible answers to this question, but it’s a safe bet that “money” is somewhere in your top 5 (or maybe top 3… or top 1).
Making money is definitely a great measure of business success, but if you ask anyone who has started a business, you’ll know that in all likelihood, the early years of launching a business were not big on profits.
In many cases, new business owners found themselves in debt or barely breaking even – at least for a while.
Or, maybe they were doing okay financially, but they were working long hours and wearing many hats within their company.
Was all that work worth it, for what they were making?
A non-entrepreneur is often surprised to discover how much time goes by before an entrepreneur sees substantial profit.
It’s easy to think the money just instantly rolls in. After all, look at all the so-called “overnight success” stories we get bombarded with every day.
Instant fame and truckloads of money – and all it took was a great idea and some minimal effort, right?
Wrong!
Anyone who has walked this walk knows that this isn’t how it usually works out.
Those so-called “overnight success” stories are often years in the making.
So, why do it? What makes an entrepreneur want to stick with it?
Why is running a business so important to a new entrepreneur, when they could be making the same amount (if not more) money working for someone else?
Why would they go the extra length, time after time, if they could get away with much less effort, punching in and punching out, counting their hours as an employee instead of a business owner?
Well, the answer is simple – and it’s NOT because new business owners don’t like money!
The reason is because entrepreneurial types measure success differently from others.
Here are just a few ways that business owners measure success, that have nothing to do with money…
Impact
It’s hard to find a job that aligns with your core values and personal goals.
Sometimes, even if you’re really good at your job, you might find yourself thinking, “what’s the point?”
This is because it is hard to make an impact on the world when you work for someone else. After all, if you are working for someone else, as an employee, you are fulfilling someone else’s purpose – not your own.
It’s hard to feed your soul when you’re following someone else’s goals.
Entrepreneurial types have vision, and they want to realize their vision by making an impact.
Often times, the only way they can realize this vision of theirs is to strike out on their own.
Working for others will often feel like a compromise, because the way they see things is unique.
They want to do things differently.
They want to shake things up.
They want their work to mean something.
They want to change the world.
To an entrepreneur, seeing how their work influences the world around them in a way that resonates with their own values is a measure of success.
The big picture
The early years of starting a business are bound to be challenging.
But entrepreneurs are focused on the future.
They know, that once things are up and running, they will reap great rewards, which can include: flexible work hours, not having to answer to a boss, choosing which clients they want to work with, and having control over where their business takes them.
And yes – money!
They know that building their own business will afford them the luxury of the lifestyle they want.
And they know that it won’t come fast or easy – but it will be worth it.
They are aware that they are building something – BIG. What might look like a pile of bricks to one person, looks like a potential skyscraper to an entrepreneur.
Business owners measure success based on where they are headed long-term, even if their current status is challenging.
Control
Have you ever been in a position where you had to convince your boss that it was time to adapt?
To invest in new software or technology?
To pivot your brand?
To hire more people? To fire someone?
To get with the times?
Ever had your suggestions go in one ear and out the other?
Feeling like you have no say, no control in how a company is run can be frustrating.
Having your great ideas go ignored can be soul-crushing.
An entrepreneur gladly takes the responsibility that comes with the power of being able to make decisions.
They have faith in their abilities to understand when it’s time to take action or change course.
Instead of waiting for things to happen, they would rather make things happen.
And THAT is an irrefutable measure of success for a business owner.
Entrepreneurs don’t always have it easy, especially in the beginning. They might work harder than anyone they know, and have little payback to show for it. So, what keeps business owners going, especially during the lean years? For one thing, business owners are guided by more than just making money. Money IS important (and necessary, of course), but what drives an entrepreneur to continue goes deeper. Entrepreneurs have a vision and want to change the world. They tend to be big-picture thinkers, and understand that while they might not yet be where they want to be, the uphill climb to the summit will be worth it in the long-run. Being in control of their own career is also very important to a business owner. While it can be a lot of pressure and responsibility, entrepreneurs have faith in their abilities, and would rather take care of business on their own terms.