26th November, 2017

Success (noun) ‘The accomplishment of an aim or purpose’ or ‘The attainment of fame, wealth, or social status’

People have very different interpretations of success.  For some, success is judged by the perfection of eyebrow make-up and the ability to look flawless in Instagram selfies.  For others, success is judged by how many lives have been positively affected by the actions of an individual.  It could relate to how much money you have made, the car you drive, or the house you live in, or it could be down to the fact that you have the time and funds available to complete personal goals (like climbing a mountain, running a marathon, or travelling the world).  Perhaps you’ve won a competition, spoken at a large event or had some of your work recognised by an industry leader… Success is a very personal and therefore subjective idea, making it hard to measure.  However, if you’re in business and looking to develop the company in 2018 (either via funding or through expansion, or in terms of your own marketing), you need to be able to quantify what you have done, and what you think is achievable in 2018 (and beyond) so that people are willing to invest their time, energy and effort in you and your business.

So how can you measure the success of your business? If you are looking for investment, potential investors are likely to want to see evidence of your financial success.  Has your revenue grown over the last few years? Have you reduced expenses in order to streamline your processes? What are your (realistic!) predictions when it comes to turnover in 2018? What impact would an extra pair of hands or funding have on this turnover? These are all figures that could be used to demonstrate the financial success of your business

Another way to quantify success is to ask ‘How many businesses have I helped?’.  If you ask for a review or testimonial from each client, and collate these on your website or on Social Media platforms (i.e. your Facebook or Google My Business page), potential new clients or collaborators are likely to share your understanding of your business as a successful one due to the notion of ‘social influence’ – where a person’s opinions and beliefs are impacted by the perceived opinions and beliefs of others.  In this case, an individual who perhaps has limited knowledge or understanding of your business is encouraged to think more positively about it due to the positive first-hand experiences expressed by others.

One of the most important things to consider when it comes to measuring success is a very personal one, and requires that you ask yourself the question: ‘How successful am I?’ As success is such a subjective issue, reviewing the criteria that you put in place when you judge a person or a business as ‘successful’ will help you to determine the characteristics and achievements that will make you feel successful, if you don’t feel it already!  Is it recognition you are looking for to help you feel successful? Why not consider applying for some industry awards, or completing some relevant courses that could help you to promote your skills and experience? If you consider success as being ‘well-known’ in your industry, perhaps it is time to start investing in increased Marketing and PR and promoting yourself as a knowledgeable and trusted industry leader?

Regardless of your turnover this year, or the number of followers you’ve got on Social Media, or how many awards you have won, the Personally Virtual Team really hope that you have had a successful 2017 and that you have an even better 2018!

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