How to Define Success for your Online Business AND Achieve It

best life running a business service based business Jun 17, 2024

The way that you define success impacts every aspect of your business. It impacts your motivation levels, your confidence, your sense of accomplishment, and your stress levels. It is the one thing that sits at the bottom of your goals – the underlying factor that keeps everything moving in a definable forward momentum.

Not sure how you define success? Keep reading to follow a blueprint for defining success and begin planning goals!

Why You Need to Define What Success Means to Your Business

In my intake for coaching clients one of the questions I often ask is, “What does success mean to you?  What would it look like if you were successful in your career endeavors?”

You wouldn’t believe how often I hear, “I don’t know.”

If you’re feeling that way – as though you just aren’t sure what success means for you – you are not alone.  There are plenty of other amazing business owners and talented freelancers who aren’t able to make it over the hump and into the career of their dreams because they, too, are unable to define what success means for them.

1. You Cannot Create Solid Business Goals without Defining Success

Think about it: Someone asks you to define your business goals and you have no idea of what you want your career to be (you have no definition of success).  How do you truly create goals that will propel you toward success if you aren’t even certain what success is?

Once you are able to say, “This is what it will look like when I am a successful business owner,” you will be able to create specific goals to help you achieve that success.

 

 

2. Without Direction You Lose Motivation

It’s easy to feel as though you are treading water, just spinning in circles or flowing with the current until the tide drags you back again.  If you don’t know what success means to you how can you really move forward?

A lot of new business owners and online service providers describe the following scenario:

“I feel like I keep working and working and I’m not getting to where I want to be.  My experiences with customers/clients aren’t good, I’m not making much money, and I feel like I just wanna’ give up.”

Sound like you?  Maybe, even, just a little bit?

Do you have the never-ending to-do list that seems to include re-doing things over and over?  Do you wonder why you just aren’t able to make ends meet or why you can’t seem to break past a certain income level?  It’s probably because you lack direction!

When we start feeling like just aren’t moving in a positive direction they tend to lose motivation.  We feel defeated.

When you know the direction you want to go you can set goals (or create steps) to getting there.  When you have goals to work toward and you can feel the sweet satisfaction of achieving those goals you become more and more motivated to move forward in your career.

How to Define What Success Means to You

This is one of the first steps I often take in coaching clients.

The definition of what success is will be different for everyone. Your definition of success depends on your life circumstances, the size of company/career you’d like to create, and various other factors.

Some people experience an “imposter syndrome” where they just don’t feel like they have what it takes.  If you think something like that is what’s really holding you back it may be time to stand up against the negative thoughts in your mind.

Explore the Idea of Success

To define what success means to you, ask yourself the following questions:

  • How much money do I want to make?
  • What sort of lifestyle would I like to have?
  • How do I want to feel when working in my business?
  • What kind of clients would I like to have?
  • How many hours per week would I like to work?
  • Do I want to branch out or grow my career to include other types of work?

Create a Success Statement

After answering the questions listed above, you can begin to work your answers into a success statement.  Sort of like a “mission statement,” a success statement sets out the over-arching goals of your business.

Here are a few examples of possible success statements:

“I will know I'm successful when I've created a business which allows room for my hobbies and family while offering me financial and physical freedom.”  This person places a lot of emphasis on his family and extracurriculars.  For him, success means a business which allows him to pursue those interests.  For him, running a business is a means to an end.

“I'll know I'm successful when I've created a business where I work for top-tier clients and Fortune 500 companies, making lots of money and constantly challenging myself.”  This person is focused on being the best best business owner she can be.  For her, success is measured by income and quality of clients.

“I'll know I'm successful when I've created a business which can also turn into a content coaching business where I teach clients to create their own stellar content and marketing approach.”  This business owner is all about up-scaling.  She loves her freelancing gig but also wants to see if she can take her career up a notch by offering different types of services.  For her, success means getting to that place where her career evolves.

Create Goals from Your Success Statement

Though there are certainly other things to be considered when defining your goals, you can use your success statement as a jump-off point for goals.

Examples of Success-Related Goals:

“I will know I'm successful when I've created a business which allows room for my hobbies and family while offering me financial and physical freedom.”

  • Working 30 hours a week (no more).
  • Earning at least $60 000 per year.
  • Maintaining flexible hours.

“I'll know I'm successful when I've created a business where I work for top-tier clients and Fortune 500 companies, making lots of money and constantly challenging myself.”

  • Secure one Fortune 500 client by the end of the year.
  • Make $100 000 this year.
  • Receive ten 5-star testimonials from clients.

“I'll know I'm successful when I've created a business which can also turn into a content coaching business where I teach clients to create their own stellar content and marketing approach.”

  • To add coaching services to my website by the end of the year.
  • To upsell at least 3 clients into coaching services.

Of course, your goals will include a LOT more than just those things related to your idea of overall success.  You may also have marketing goals, learning goals, etc.  When writing goals, try to work from the S. M.A.R.T. Goals model to ensure your best chance of success!

 

Wow, I could go on an on and, honestly, I probably will in follow up posts πŸ˜…

For now, that's a lot to consider. Once you know better what success means for YOUR business, it's time to start creating a brand and marketing plans that support your goals. πŸ‘‡

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