How do you measure business success?

[Ani_]

Hey Seller Community,

Hope you are having a fantastic Wednesday! ☀️

Today we'd like to know...

How do you measure business success?

We're looking forward to reading your replies! ✍️

[MudFire_Dex]

Hello Everyone 🙂 This is an interesting question because it involves emotion and lots of metrics. I think it is interesting to talk about how happy you are with your business/effort/finances and to question how we define happiness. I measure success in being  satisfied that things are moving in the right direction with regard to all of these metrics: new customers, customer retention, growth, expansion, profit.

I'd say we first measured in customer retention and satisfaction, and now are measuring in the community we have built, the success of the tiny businesses under our umbrella and finally we are seeing some profit and are looking forward to expansion - so I call that success.

[sugarlab]

Oooh! This is a great question. I think the feeling of success changes with each business season. I remember doing my first $10,000 month and feeling on top of the world. Then last year, we had our first $10,000+ day (over 11,000 actually!) and I cried. It's a constant chasing of goals, which is good. But then it can be hard to truly sit in that moment and celebrate those wins. 

On the whole, I consider a business successful if it has longevity. Is it able to change with the times, with different trends (even if that means avoiding them), and if it can build with its community. 

[lenjobakes]

When someone figures out a way, let me know 🤣

I don't know if I'll ever feel "successful". I mean, the business is running, we're paying our bills, our staff are happy, our customers are happy.

Are we successful? I have zero idea. For me? No. Not yet. When will we be? Unsure. It's jumpers for goal posts - we'll never really "attain" it because the measure is always changing.

But I mean, we're doing fine. And that's all I can ask!

[PollenNation]

People are recognizing our brand. And we are climbing out of debt while being able to give back to the community, in small but exciting ways. 

[rtfulk]

profitable, and having savings set aside for when the sky falls, like Covid 2020 when our business was completely shut down.

[Sandy1957]

Covid has slowed it down. The economy too.