Welcome to another Happy Snack at Noon, the 6 Figure Academy’s weekly live “snacks” where we talk about money flow, mindset optimization, or more importantly, life mastery around happiness.
Learn more about money and happiness here: https://go.the6figureacademy.com
This week we’re going to be talking about how to define business success. This is an important discussion because, at The 6 Figure Academy, we like to stress how important it is to define and describe exactly what it is we want. Defining what business success means to you is vital because each person has their own unique definition of success. When an entrepreneur creates a business, the purpose of the business needs to be clearly defined, otherwise it’s likely to fail. For example, think about when you go shopping for clothes. Do you want a shirt? Or pants? What color? If you just think, “I want clothes,” without defining exactly what kind of clothes, then you’ll have a really hard time shopping. Of course, some people might want to go on an all-day shopping adventure, but if that’s not your goal, then it will be very frustrating.
If you’re only thinking about the fundamentals of your business and making sure they’re covered (overhead, insurance, inventory, etc.), then that’s a problem. This is why a lot of businesses stay stuck: they’ve only defined success for their business. As an entrepreneur, you need to invest time, energy, and resources to help you get a clear idea of what business success means to you. Another example: maybe one of your desires for your business is to help people and you think, “OK, I’m going to help 1,000 people or 10,000 people.” Tony Robbins has talked about using his business to feed a certain amount of homeless people and he uses that as an indicator of his success. Notice that both of these goals go beyond money. Your fundamentals are still being covered, but it’s not part of your definition of success.
The thing to make sure is that you’re not defining your business based on what someone else has told you. As an entrepreneur, you probably started your business to not only solve a problem but also to support a particular lifestyle that you’ve dreamt about. One mark of a successful entrepreneur is that you have a lot of freedom: freedom to do what you want, freedom to define your passion, freedom to allow your creativity to flow. Ultimately you want your business success to be directly tied to how happy you feel. That’s why at The 6 Figure Academy, we’re always asking clients, “It’s great that your business is successful, but are you happy?” If you’re not happy, then something is off with your business success.
If you’re not an entrepreneur or a business owner, then you need to think about defining your career success. But that’s a discussion for another time.
To sum everything up again:
If you’re struggling with becoming successful, it makes sense to revisit what your definition of business success is. You might realize, “Oh, my definition of business success is pretty broad and not very specific.” The more specific you get and the more unique your definition of success is to you, the easier it’ll be to achieve success because you’re going to have more fun doing it and you’ll be happier.
That’s our Happy Snacks at Noon for this week. We would love to hear your thoughts on defining what business success means to you. If you have any questions about other topics you want us to cover, let us know about that too! We’ll see you next Wednesday! In the meantime, go define that business!
Watch the discussion about defining business success below:
