Terri Lonier is the publisher of the WorkingSolo website, which happens to be a very good resource for independent entrepreneurs. I’m sharing one of her current articles with you whether or not you work solo. In any business there are a number of ways you could measure success. Some of them may matter more to lenders. Some may matter more to your employees. It’s good to establish your own benchmark for success, and Terri offers 7 metrics you can use. I particularly like her closing paragraph, which shows how important your own goals are to your measure for success:
“As these seven benchmarks reveal, there are many ways to track your business progress. The three most meaningful measurements points might be: 1) The “now,” or your baseline; 2) The ideal or possible, your target; and 3) The milestones, or your progress along the path from the “now” to the ideal. Crafting your own set of measurements and monitoring them on a regular basis can keep you focused, inspired and on track to solo success.”
Some of the most successful business people I know are rigorous about monitoring their progress against their goals.