Owning a business isn’t easy. It requires sacrifices and can drain and deplete many resources – physical resources, emotional resources, mental resources, and financial resources to name a few. Because of this, it is important to remain cognizant of your ‘why’…why did you start your business in the first place? What drove you to take that leap of faith? Because, let’s be honest, that was no small leap! Remembering the ‘why’ of your business will guide you to understand if you are accurately measuring what matters with your business.
What Are Your Goals?
Take a moment to reflect. When you think about what you want from your business, what comes to mind? What is the intended goal? Do you have a certain amount of income you need/want to reach? Is there a specific number of people you’d like to employ? Or perhaps your goal this year is to spend fewer hours in the office allowing for more of your time to be spent with family and friends.
Are You Comparing?
Whatever your motivation, it is important to remember that the success of your business should never be measured against the success of any other business in existence. You might think I’ve lost my marbles since our society is all too concerned with “keeping up with the Joneses.” But what is important to another business owner may not even be on the radar of importance to you! Stop playing the comparison game and keep your focus on what’s important to you. Because, at the end of the day, the success of your business may look very different from the success of someone else’s business.
Is Your Business Working For You?
Additionally, the image of ‘the successful business’ that has been constructed in your mind may not be created from the goals and aspirations you actually have for your business. It may be a string of “shoulds” you have adopted from other business owners, societal ideals of what success ‘should’ look like, courses you have taken, podcasts you have listened to, or books you have read. Don’t waste your time trying to emulate the image of the so-called “perfect” business in your head that doesn’t truly follow the goals in your heart. Instead, stop and ask yourself – did you supply your family with what they needed? Were you able to attend your daughter’s volleyball matches or your son’s football games? Were you able to give your employees the Christmas bonuses you were hoping to give? Maybe your company’s revenue didn’t grow last year, but perhaps that wasn’t even one of the goals you had set for the business. It’s not all just about the bottom line! Yes, numbers are important but don’t allow the P&L statement or balance sheet metrics to dictate your every move or paralyze you from thinking beyond the numbers.
Help With Measuring What Matters
At Remote COO, we help business owners create and cultivate their yearly goals. If you are struggling with what is important to you and your business or you just don’t have the capacity and resources to reach your goals, reach out to Remote COO today. Let us help you measure what matters!