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  • Five Ways to Measure Success in Your Business

    By CrysTelCall On CrysTelCalling Comments August 11, 2014

    Five Ways to Measure Success in Your Business

    1.  Profit

    #Profitability is probably the first thing people think about when measuring #success.  Is the business making #money? This is fairly common sense - if there is money left after you have paid your monthly operating expenses and debt, then things are looking pretty good.  However, if you find your bottom line is continually red, your chances of success begin to dwindle.

    2.    A growing customer base
    In addition to profitability, a growing #customer base is a sure sign that you are #effectively reaching your target market, and reaching your target market is what your #business is all about.  Without a vibrant customer base, your success will be limited, at best.  The long-term growth of your company is tied directly to your ability to not only reach your customer base, but to expand it to accommodate your long-term goals.  All of those long hours spent on the research and development of a #marketing #strategy prove themselves here.

    3.  Customer satisfaction
    Customer #satisfaction is an indication that your company understands the needs of your customers.  Understanding your customers and being able to satisfy their needs is crucial to the strength of your business.  Just remember, one unsatisfied customer can negate the promotional impact of several satisfied customers.  Having strong customer service polices will add to the success of your company.

     4.    Employee satisfaction

    Employee satisfaction is another key indicator of business success.  Developing a work #environment that rewards employees for their hard work is imperative in attracting and retaining quality employees.  If workers know they are appreciated, they are much more likely to go the extra mile when needed. Employees are an indispensable part of your business. They are the face that greets your customers.  Do everything within your power to make sure that face is a smiling one.

    5.    Owner satisfaction
    Perhaps the most important measure of business success is whether the #owner is satisfied with the results of business ownership. Dissatisfaction is contagious.  If you're not happy with your business, it won't be long before your dissatisfaction begins to affect the employees and even the customers.  Every once in a while, carve out time for a reality check. Identify the sources of your dissatisfaction and make the necessary changes before it's too late.