When do you say a business is successful?

When do you say a business is successful?

Kaustubh Katdare
@thebigk

Updated: Oct 22, 2024

Views: 1.0K

There can be different scales to measure the success of business. It could be just finance based (Ex. Company did turn of X in the current financial year, so it's a successful company) or the overall impact it has made on the lives of people (its customers) etc.?

What do you think is the most appropriate measure of success of any business venture?

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Saandeep Sreerambatla

Member • Nov 13, 2012

Success is defined by the founder. I remember reading some post here, people participating in a running race. The person who comes first is not necessarily successful one. The person who participated must be successful according to him if he participated.

So Success definition should be given by the founder for any organization. For eg: I start a company on educating people on something, my purpose is to educate 100 people atleast in 1 year and see that they make a difference(Just an example).Money is always there, but it should be always secondary. Purpose should be something important for us. every business will make money for sure 😀 And this doesnt mean that people donot start business for making money. Its always there and it should be there as well.

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RISHABH LALA

Member • Nov 14, 2012

As above said , success is defined by the founder.It depends on the vision of the founder . success is always a journey towards the vision of the founder , so at a particular instant of time the business is successful if it is giving happiness to you and inspiring n exiting you to do more....

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Ankita Katdare

Administrator • Nov 14, 2012

The question asked is - 'When do you say a business is successful?'
I think the answer varies with perspective : of the owner & of the rest.

The owner may set a big vision for his business and lay steps to climb towards it. With every milestone, he experiences success. If the big vision is an unchanging single goal, he can call it successful as and when he achieves it. (But I think a person will keep running from one goal to another. So it's a never-ending process.)
The rest will have 100 different definitions of success. For some the big-bucks $$ will only speak of the success. For some the utility of the product a business offers is success. ☕

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Umesh Kumar Rai

Member • Nov 21, 2012

Well, as per my understanding we can say a business is successful when the founder achieves what he had intended(apart from money) and when there is enough impact on the customers and market by the business, the impact could be anything from our day to day life to another companies running another business. Also when it starts inspiring others to follow the same path to make their business successful. Please correct me whenever i am wrong.

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