The average workday has changed over the last few years, to say the least. Flexible schedules are more commonplace, teams have mastered digital communication and to most, working from home has become second nature.
The professional landscape is evolving—and as a result, the way we measure success is evolving, too. In addition to trusty success metrics like sales, revenue and profit, we’ve collected a few fresh success markers to keep in mind on your entrepreneurial journey.
1. Your team is happy
Nothing screams “SUCCESS!” more than a group of people who genuinely care about what they do. Happy teams are more motivated, productive and collaborative—all brilliant markers of a successful organization.
One of the best ways to measure employee satisfaction is to—wait for it—ask them for feedback. Unsurprising, we know, but getting useful feedback isn’t always easy. Try to create a space where people feel secure giving honest feedback at work, and make sure you’re ready to have some tough conversations that end with clear next steps. Feedback is a two-way street, and it’s most effective when both sides are honest, respectful and willing to take steps to make things better.
2. The future doesn’t scare you
Remember when this business was just a glimmer in your eye? Now, you’ve gotten at least as far as looking into blogs about how to measure business success. That’s growth! Now, imagine how far you still have yet to go. Does that thought excite you? If so, congratulations! Keep that momentum going by keeping your company vision in mind with every step you take.
If the future seems daunting, try to figure out why. What parts of it scare you? What actionable steps can you take to mitigate these risks? Don’t forget, your team is here to help you. Don’t be afraid to leverage their knowledge, skills and experience.
3. You can be transparent, both internally and externally
No organization can be everything to everyone. It’s important to stay true to your roots and let your transparency shine throughout your brand. A wise person once said, “Clear is kind,” and we could not agree more.
Prioritizing effective communication can have a major—and positive—impact on your business. By remaining transparent, you boost credibility while gaining trust from your team and consumer base. That’s not to say you should share everything with your customers (they’re probably not as excited by week-over-week performance as you are). But communicating integrity throughout your organization is absolutely worth putting time, energy and thought into.
4. You are proactive against burnout
Professional burnout is real. The good news? You can help prevent it, allowing your team and your business to stay on track. If you already have strategies in place to mitigate burnout, that’s great! If you don’t, consider implementing one (or all) or the following:
- Encourage your team to take mental health days
- Have a clear process in place for team members if they start to feel the effects of burnout
- Ask managers to conduct regular capacity check-ins to ensure no one is overworked
Understanding the nuances of burnout is an important part of being a great leader. Taking steps to make sure your team gets what they need as both employees and individuals is vital to helping your company find success.
5. You’re not afraid of failure
At the end of the day, numbers do matter. Data matters, profit margins matter, KPIs matter; it all matters! The thing that matters most, though, is what you do with all that data.
What do you do when you see a decrease in revenue? Do you freak out and blame the nearest employee? Or do you sit back, widen your scope, look at the big picture to determine how to solve the issue and create a plan to avoid it in the future?
Failure isn’t a bad thing; it’s a learning experience. To be successful, try to take the good with the bad, and remember that even the most successful organizations have setbacks. It’s how you react to these speedbumps that determines success.