Measuring Success in Your Business: How to Look Beyond the Dollar Signs
Oct 18, 2021
In this post from Profits + Prosecco The Podcast, I am going to be talking about why numbers do and don't matter in your business. I want to be super clear and transparent about what the numbers you're seeing actually mean and what you want to be benchmarking. Stay tuned to find out how!
But before we dive right in, welcome to the Profits + Prosecco Podcast! I’m your host, Katie Ferro, CPA, reformed rule follower, creator of Booked Out Bookkeeper, mom to 3 little ones, and Kajabi enthusiast.
This podcast is for entrepreneurs who desire to change their life through their profitable business, and for bookkeepers and accountants who want to escape the 9-5 and start a simple scalable bookkeeping business like I did.
Bookkeeping increases profits and profits change lives. So pop some bubbles and let me show you how!
In this episode, you'll learn how to measure success in your business beyond the money. For even more juicy details, listen to ALL of episode 49 of the Profits + Prosecco Podcast on your fave streaming platform.
Why numbers are so subjective.
The only things you should be benchmarking in your business are your goals, success, the progress you're making, how it feels, and what it's allowing you to do in your life. I want to remind you that you never have to compare your financial situation to anyone else's. This can be extremely difficult, especially when seeing other business owners in the online space.
Money, however, does not indicate their success. The biggest indicator of success is how you feel and what exactly your business is able to support. You can't look at your sales and profit and compare the two to other businesses. Everybody has different costs, depending on their lifestyle.
Rather than focusing on always needing to level up your sales, focus on profit as a goal, knowing it allows you to achieve what you want. I want you to increase your presence in your life and allow your business to be the thing that makes that possible, not the numbers.
The reason behind why you started your business.
Can you recall the reason why you started your business?
Finding out that reason is all about getting really in tune with it and NEVER losing sight of it. For me, I knew I could accomplish bigger business goals and grow a huge agency, but I knew that would require more time than I could put in. Because I’m aware of the reason behind my business, I sometimes have to say no to certain clients because I know I would have to do a task I'm not ready to commit to. Saying no helps me stay on track and respect my own business boundaries.
I want to emphasize how important and possible it is to find your vision and honor that. You don't need to reach a certain dollar amount in order to reach your business goals. In the way I work with my clients, I will never hand them a script to help them reach their own objectives because I don't believe in that.
We all do things differently, and we all hustle differently. Find out what your reason is, get clear on that, and make sure every decision you make supports that reason.
Measuring Success in Your Business: How to Look Beyond the Dollar Signs: The Bottomline
I hope this episode points you in the right direction of true success and helps you understand that money is not the only thing that validates your hard work. While looking for proof and inspiration is powerful, don't lose sight of your business and always make it the way it exists inside of you. Measuring success in business goes way beyond the dollar signs, and I encourage you to build out your goals and support them with what you believe works for you.
To learn the skill of bookkeeping, enroll in Become A Bookkeeper (BABs), or to learn how to grow and scale a bookkeeping business, you can apply for Booked Out Bookkeeper (BOB).
If you enjoyed the episode, please take a second to rate and review. Each review helps us reach and inspire more entrepreneurs and bookkeepers just like you.
Don’t forget to take a screenshot, share it in your Instagram stories, and tag me at @orderlyaccountingbykatie. Cheers to your inevitable success and I’ll see you in the next episode!
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