You’re in business to spin straw into gold, because that’s how we get things like food, shelter and Maseratis. But while profit is one way to measure your level of success, there are other victories worth celebrating, too. In the same way that losing weight can be measured in joyous realisations other than the diminishing numbers on the scale (being able to wear your old clothes or put a new hole in your belt on the other end), there are happy side effects to kicking corporate goals.
Obviously you’ll have to figure out what these cash-unrelated victories look like, because they’ll be defined by what’s meaningful to you as well as the type of industry you’re in. For some people, being able to hire staff so you don’t have to work as many hours is a triumph. For other people, being able to work yourself to death because there’s so much work available is a win.
But as a starting point, here are some milestones that could be worth buying a Woolies mud cake over.
Being able to take time off/Having no time off As discussed.
Looking professional/Looking unprofessional Maybe you have enough cash flow to invest in uniforms for staff, update your equipment and have your website overhauled by a professional content agency. Or maybe you don’t have to wear stupid neckties and lace-up shoes to impress people anymore, because your timeless genius speaks for itself.
Paying lots of tax/Paying no tax When you first have to apply to charge GST, it’s a marker of success – and the same goes for seeing how much you have to hand over to the government each BAS time. On the other hand, watching your accountant play shell games with shell companies in countries with shelly beaches is also fairly thrilling.
Opening new locations/Shutting down all locations Whether it’s cutting the ribbon surrounded by balloons or placing an order for a bunch of new treadmill desks and those giant tins of Milo they have at Officeworks, there’s a joy to seeing your operation expand with new people, places and possibilities. And there’s also a joy in having established such a loyal customer base and/or efficient operating systems that you can take your whole business online.
Having fully stocked shelves/Having empty shelves Cash flow is so good you can purchase wholesale stock that fills those warehouses or shelves of yours to bursting. Or it flies out the door so fast you can’t keep up with consumer demand and a waitlist that makes the Melbourne Cricket Club look reasonable is lengthening by the second.
How do you measure up?