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Olympic gold not the only definition of success

Tuesday, July 31st, 2012

Why do Olympic athletes compete even though they have little chance of winning a medal? Because for many of them, success is not defined by winning a medal, but by other measures. Maybe it’s winning the competition to become an Olympian, or achieving a personal best, or being a role model and inspiration.  Whatever the definition is for each athlete, you can bet that each one of them is proud to participate in the Olympics.

Every business’s definition of success is different, too. As a small business owner, you may recognize that being the top competitor in your industry is not realistic, at least in the short term. But smaller players can be successful by different measures, such as increasing market share year-over-year, customer loyalty, or profitability.

This business strategy article makes further comparisons to the Olympic experience. When you set appropriate goals for your company, then you can develop plans to reach those goals and measure your progress along the way.

Like Olympic athletes that are not medal contenders, small businesses have been successful by playing various roles in the success of Olympic athletes and the event. This Inc.com article offers several examples. When you break down a large project into its components, it may be possible to find a niche that your business can fill.

A big-picture perspective from a trusted advisor outside your company can help you to articulate your definition of success and set realistic goals. Your strategy for achieving those goals will help you consistently steer your company toward success. Contact us to find out how we can provide knowledgeable perspective and support.

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