What you think is a successful business may be different from the person next to you.
Some people want to earn lots of money. Others want a lifestyle or the profile of business success.
But there are some clear indicators that things are working well. Here are a few to think about.
People are happy. Your work peers, clients and even your suppliers, if they look forward to working with you and turning up to your premises then that's a sign of a successful business. Having a clear and connected purpose will show in its performance being the inspiration to drive business results.
At the end of the day happiness is something we strive for as humans so it's a no-brainer as a measurement of success.
Your business is cashflow positive. How many of you check the bank balance first thing in the morning when you wake up? When there's more than you expected in the bank then there's less worry about how to pay the bills.
Being cashflow positive also opens up other possibilities of investment. With your mind turned to other options in this way, you can focus on how to grow, rather than how to survive.
Business continues without you there. If your business can function without you then congratulate yourself. What this means is that you've been able to organise and systemise things without needing you present to direct or micromanage them.
Having a holiday, taking time out with the family or just being able to get in a break needs to part of your life as much as your business.
You're considered by many an expert in your field. If you're the go to person in the industry, and you find yourself being quoted or called to give comments, then don't take it lightly.
The reason has to be because of what you and your business has been able to achieve. Being an expert means you need to have an opinion and put yourself out there, this takes some courage.
So how do you feel about the success of your business? Your satisfaction is just as important as how others validate you but don't forget to celebrate even the small wins you get along the way.
Jeremy Tauri is an associate at Plus Chartered Accountants.
Phone: (09) 438 3322
Fax: 438 8455
134 Bank Street, Whangarei
If we had to sum up Brent and the team at Plus CA it would be - humorous, efficient, professional with a real focus on making your money work to its best ability for you...we will continue to deal with them even though we are moving overseas as we know they have our best interests at heart.
Jeremy thank you for your patience, assistance and general chit chat over the years. I would have absolutely no issue in recommending your services to everyone and anyone – in fact, I do.
We recently employed Jeremy Tauri of Plus Chartered Accountants and have been thrilled with the improved service we have received. Jeremy is really approachable and always available to answer queries. At his instigation we have set up quarterly meetings so that we are regularly reviewing our business and avoiding any ‘end of year surprises’.