Virtuity – What Does Success Look Like?
Plan and Act on Your Plan for Success: Part 3
provided by Susan Mesrobyan
(310) 954-7974 / connect on LinkedIn
In Part 1, we discussed the basics for starting your business. In Part 2: The Steps to Put Your Plan Into Action, we talked about the fundamental steps that have to be implemented regularly. Today, in Part 3: What Will My Success Look Like, and How Will I Know I’m Done?, we’ll look at measuring your business’s success.
WHAT DID WE WANT—AND WHAT DID WE GET?
Feedback is integral to every human endeavor. Business is no exception.
You have to “inspect what you expect.” That simply refers to the accountabilities we referred to in both of the previous posts. We started out with certain expectations within given timeframes—income earned; units produced; families helped; market share achieved; etc.—and then we measure what we projected versus what we achieved.
In business, if you achieve 85-90% (or more) of your expectations, you are doing well. If you consistently outperform your expectations, they’re too low and need to be adjusted upwards.
This is particularly true in manufacturing, where you have control over many of the processes from inception to fruition. But what about the fields of service? And what about unusual types of businesses where you have virtually no capitalization cost, very low “entry” fees, no inventory to buy, and no quotas of production?
That latter type of business—typically a network marketing company—is actually becoming far more popular for many people. Many reasons exist: you don’t have a boss breathing down your neck; capitalization is virtually nil; there are no production quotas; your compensation is directly tied into your performance, so you control your financial destiny; you can’t get fired unless you commit a crime or perform something unlawful; and there’s typically much better training and recognition than you get in conventional employer-employee environments.
In the network-marketing world, you have to have a positive mindset, be willing to work harder than others so you can eventually live a life others can’t live, and take the chance for success than to be content in a dead-end “job.” As a conventional business owner you take many risks, but being an employee isn’t one of them. That’s good.
But being an entrepreneur in a network-marketing setting, with no limits on your income, no restrictions on your time, the chance to really focus on your family, and the ability to enjoy a terrific lifestyle? That’s great!
If you are paid residual income, based on all the hard work you did before, then—if you desire—you’re done!
Susan Mesrobyan may be reached at (310) 954-7974