What Are Your Terms for Success?
I was reading a recent report – Knocking Down Barriers by Sam Dumitriu – and came across some interesting stats…
In a poll of 497 SME leaders, the majority saw success in personal, not financial terms:
- Doing what they love (41%)
- Working when they want (36%)
- Working where they want (33%)
- And having the freedom to choose what work they do (32%)
Whatever stage your business is right now, and however long you’ve been in business for, have you defined your terms for success?
It’s so essential in creating (or re-wiring) a business that no longer depends on you, that we even developed a TERMS Model:
T – Time
How much time are you going to invest in running your business?
E – Enjoyment
Business is tough enough, and there’ll always be elements we prefer doing over others, but if you’re no longer enjoying the journey, then you need to look at why this is.
R – Resources
What personal and business resource (outside of Money) are you prepared to commit to running your business?
M – Money
Do you really know how much you need to survive? To break-even? To reach your personal goals?
S – Sanity
What are you prepared to do to make it work? How much fight do you have in the game?
Earlier this year we ran a 5 Day Business on Your TERMS Challenge with business owners like you. They are already benefiting.
And if you’re not sure this ‘stuff’ really works, then here’s Geoff’s story. To echo Geoff:
- Surround yourself with great people
- Have a plan
- Take action
PS – 73% of these SME leaders surveyed had access to a mentor and more than half sought their advice. So, if you need any help, you know where I am.