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Last Updated on February 25, 2020

How Do You Measure Success: 10 New And Better Ways

How Do You Measure Success: 10 New And Better Ways

“Larry is a failure at everything except life.”

That was a memorable line from a somewhat forgettable Ted Danson movie in the 1980s. Pithy, it did encapsulate one eternal truth, namely that life is the goal. Making the most of one’s limited time in this world is the core measure of success.

So how do you measure success?

Money is meaningless until you do something good with it. Fame is fleeting and tertiary at best. But life and how you live it – in business, in family, in everyday interactions – is the true measure of accomplishment.

The Inside and Outside of Success

Life occurs within and outside of you. The two – yourself and everyone else – are interconnected. Their lives, and thus their success, are influenced by you and your success which is influenced by them.

It becomes clear that any measure of “success” cannot be one dimensional. There are many metrics, but if a person looks only at those that directly affect them, then they lack a complete measurement. It is good to succeed in business, but it is important to succeed in life. The two are not mutually exclusive, and in some ways positively reinforcing.

10 New Ways of Measuring Success

For a Successful Business

In business, it is not always the bottom line that defines success. I won’t argue against it – profitability is the first rule of business, because unprofitable companies do not survive. Just beyond that are some success measurements that are nearly as important:

1. Hitting Your Goals

If you call “8 ball in the side pocket” and scratch, then you failed to hit your goal. Knowing and achieving your business goals is important.

But goals in business have many manifestations. Aside from profitability, some business goals include growing your market share, disrupting a market, having very high customer satisfaction rates, reducing product defects, and more, and more, and more.

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However, you cannot achieve your business goals unless you know what they are, communicate those goals to your employees, and measure the results. Many people in business are vague about their goals. They are not clear in making everyone in the company embrace the goals or checking on progress.

None of these success-generating steps is difficult, but success will likely not come without them

2. Growing Your Business

“Growth” is quite personal, even to an executive.

In this, a business is a bit like a child. As the business’s parent, you get a certain satisfaction in raising it, helping past the stumbling toddler years, seeing it blossom into adulthood, and ever expanding its horizons. In the process, you grow the lives and fortunes of your employees, your shareholders, your community and your country.

3. Low Turnover

According to an article in Forbes, the turnover rate is the highest it has been in a decade. My company, Micrel, had the lowest employee turnover rate in our industry, as well as having the highest “boomerang employee rate (people who left the company and decided to come back).[1]

This form of success is a reflection of the corporate culture you created. A bad culture creates a high turnover rate, and a good culture a low one.

4. A Well-Balanced Life

All work and no play make Jack a dull boy, and often a jerk. The reason is that life is not work, only a part of it. A wealthy captain of industry that never takes long and relaxing walks holding the hand of a loving spouse is not a success.[2]

Measuring balance in your life is non-productive. But when you lack balance, it is easy to measure. The shortfall of joy, the failing health, the shattered marriages, the estranged children … these are the heavy weights placed on the wrong said of life’s scale, and they are a clear enough measure.[3]

5. Sharing Your Success with Others

Ebenezer Scrooge, and Jacob Marley before him, horded their wealth. It cost Marley everything.

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“But you were always a good man of business, Jacob,” faltered Scrooge, who now began to apply this to himself.

“Business!” cried the Ghost, wringing its hands again. “Mankind was my business. The common welfare was my business; charity, mercy, forbearance, and benevolence, were, all, my business. The dealings of my trade were but a drop of water in the comprehensive ocean of my business!”

Sharing is perhaps the true measure of all success, be it a wealth of money, time, patience, knowledge, wisdom or good will.

For a Successful Life

Which brings us to the non-business side of the business life. As your business affects your personal life, so too does your personal life affect your business. The two cannot be separated. Some elements that should be on your success scorecard include:

6. Good Health

The enjoyment of life is at best incomplete in poor health. At worst, it is hellish.

Now take poor health outside of your body. How does being sickly affect your company (when you cannot lead fully), your family (their support and their stress over you), your community (when you can no longer serve)?

Good health is a gift unto itself, but also to everyone you touch. Don’t cheat anyone out of your good health. Do what is necessary to keep your machine in good working order as the first imperative toward success.

7. Healthy Family

Family is love and support. Every person’s role is to grow their family, to stay connected, to provide love and support. In that giving to others, you improve their lives while improving yours.

It also lays the groundwork for you receiving love and support when you need it. If you are launching a business and taking the risks that go along with it, you will need that love and support.

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8. Learn to do the Tough Things First

In or out of business, we are all faced with seemingly insurmountable obstacles. But we humans have this funny knack of overcoming them.

Indeed, we do it so routinely that out sight miracles that go against nature – flight, the internet, leaving the planet on rocket ships – has become almost blasé.

None of these things were accomplished instantly. They were the result of many small successes. The ones that happened fastest were where a person or a team looked at all the problems, took on the biggest and toughest first, then conquered it. They did the Tough Things First, which made the rest of the project much simpler and more exciting for everyone.

This applies to daily life as well as business. If you are planning to relocate your spouse, several children, pets and all your worldly belongings across country, the task likely looks overwhelming. But the moment you prioritize the list of tasks, and knock the biggest and ugliest off the list, the rest seems like a cakewalk.

9. Being a Teacher

One of the highest compliments I ever received was from an industry analyst who said that I was a “teacher”.

Yet we all are, or can be, teachers. It may be providing basic life lessons to a child on your knee, instructing an employee in complex processes or technologies, or even teaching by example via living a good life.

For me, one joy has been writing a good book on management and leadership, and another about the intersections of people, society and business. It is by teaching, and in my case writing, that you directly benefit others.

Life can be complex, filled with many topics and problems. By sharing knowledge and wisdom, we lead others past difficulties and on toward their own greater success.

10. Dignity and Honor

My marketing director is a proper Southern Gent, which is easily discernible by a well-honed sense of honor. You don’t have to be a southerner to live a life of dignity and honor, but if you are male you do have to be a gentleman.

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Dignity circles around self-respect and honor involves acting with honesty, fairness, and integrity. The latter leads to the former. Indeed, you cannot have self-respect without practicing the basic virtues of honesty, fairness, and integrity.

Why is this a measure of success? Because we humans are social animals, and society exists only because of trust.

Honesty, fairness, and integrity are the cornerstones of trust, and thus the foundation of society. A person is truly successful when they add to society.

Final Thoughts

All this brings us back to the dictionary definition of “success”, which is:

“the favorable or prosperous termination of attempts or endeavors.”

You may or may not be a businessperson, but you are always a person. Your endeavors are both in and out of the office. Since each sphere affects the other, the true measure of success lies in how you managed your affairs in all facets of existence, for they cannot be viewed in isolation.

More About Success

Featured photo credit: rawpixel via unsplash.com

Reference

More by this author

Ray Zinn

Ray Zinn is an inventor, entrepreneur, investor, angel, bestselling author and the longest serving CEO of a publicly traded company in Silicon Valley.

The Secret of Success: 10 Tough Things to Do First How Do You Measure Success: 10 New And Better Ways 18 Ways to Have Effective Communication in the Workplace 4 Effective Ways to Motivate Employees During the Busy Holiday Season How Teamwork in the Workplace Boosts Morale and Delivers Results

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Last Updated on October 13, 2020

A Complete Guide to Goal Setting for Personal Success

A Complete Guide to Goal Setting for Personal Success

If there was a rule book of life, there would be one particular page that was highlighted, underlined, and titled as most important. It would be the one which told you that you need to master effective goal setting and have an aim in mind before you get on with the process. Luckily, this goal setting guide is here to help.

Yes, goal setting is important. In fact, it’s more important than achieving the goal itself. This is because it is the sense of direction that is needed for you to fulfill any task in life.

You don’t have to feel overwhelmed if this sounds new to you because all the following information has you covered.

Today you’ll find out all about the importance of goal setting, types of goals, and tips to define realistic goals for yourself!

What Are Goals?

To kick off our goal setting guide, you need to first recognize what goals are and how they are different from objectives, dreams, and expectations.

A goal is basically your aim for the relatively long-term future. It is the bigger umbrella, the main focus.

Objectives, on the other hand, fall under the umbrella of goals. They are the stepping stones that help you achieve your goals[1].

Objects vs goals for goal setting

    Let’s say you want to learn a new foreign language. Your goal is to be fluent in the new language. Everything you do to achieve this goal, such as the daily tasks and learning aims, are the objectives.

    Similarly, your expectations, visions, and dreams are not your goals. If you wish to learn a new language someday, that is your dream. If you see yourself fluently speaking multiple foreign languages, that is your vision. If you think you’re capable of learning a new language, that is your expectation.

    However, if you aim to fulfill these visions, dreams, and expectations practically, that is your goal.

    Why Is Goal Setting Important?

    Why should you bother with goal setting at all? Wouldn’t it be more convenient to just get on with your daily objectives, follow a dream or vision, and let life take you wherever?

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    Well, if that’s what you want to do in your life, go ahead, but if you actually want to tick off things from your list of goals to achieve, goal setting is necessary.

    Being committed to a goal puts your brain to work in one specific direction. Believe it or not, by having a defined goal, your brain does its magic unconsciously, 24/7, with full efficiency, to achieve the desired results[2].

    Goal setting is important to shift your focus, boost your motivation, and give you a sense of direction. Without formally defining a particular aim that you want to reach, you won’t be able to keep your objectives in line.

    Hence, this one tiny step can end up saving you a lot of hassle and time while also encouraging your productivity in the right regard.

    Types of Goals

    Before we move onto the technique of setting effective goals, we need to first take a look at all types of goals in this goal setting guide.

    These categories will not just help you brainstorm new one for yourself, but it will also guide you to list them down in the right way.

    Time-Based

    One of the two broad categories of goals is based on time. These goals define how far in the future you want to achieve them.

    Daily

    There are certain smaller goals that you can easily achieve in a day or two. In fact, some of these daily goals can be recurring, too. For example, you may want to run for an hour every morning.

    Now, these daily goals can also serve as objectives for a long-term goal. You may be running every day because, in the long-term, you want to increase your stamina.

    Daily goals are highly effective for people who want to improve their mental wellbeing, time management skills, and stress management.

    Short-Term

    Next in line are short-term goals. As you would have already guessed, these are aimed for the near future.

    The great thing about these is that they are generally easier to achieve. This is because short-term goals are set for the foreseeable future. You are aware of the circumstances and have an idea of how much the situation can change. That is unless, of course, something extremely unpredictable happens, the chances of which are quite slim.

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    Just like daily goals, short-term goals may also serve as objectives for a long-term goal. Your short-term goal may be to lose 5 pounds in one month. That could be a goal in itself, or maybe it is just one objective to fulfill your goal to adopt a healthy lifestyle in the next two years.

    Another example of a short-term goal is to fulfill the checklist for promotion within the next 6 months. Or, you may want to reduce your screen time within the coming week.

    Long-Term

    Lastly, we have long-term goals that are meant to be completed over a stretched period.

    Whatever you want to achieve in a later stage of life is a long-term goal. An insurance plan, for example, is a long-term goal.

    Some long-term goals don’t have any time frame at all. They are goals that you want to accomplish at some point in your life. So, something like traveling the whole world is a lifelong goal with no specific time constraint at all.

    There’s one thing about long-term goals that isn’t great.

    They are the hardest to keep up with since you’re not seeing any huge achievements regularly. This may take a toll on your motivation. To tackle this problem, it is best to divide a long-term goal into various short-term and daily objectives so that you’re always tracking the progress you’re making.

    Life-Based

    Moving forward, you can also start goal setting based on the results you want to achieve instead of the time period.

    Career

    Like all humans, you will always want to succeed and excel in your career. No one wants to stay where they are forever.

    Anything that has to do with this intention, regardless of the time frame, is a career goal.

    You can learn more about how to set successful career goals here.

    Personal

    The past few years have all been about emphasizing your personal health. So, when it comes to goals, how can we forget the ones that have to do with our personal gains?

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    From health to finances to relationships, everything that brings you happiness and composure as a person is a personal goal.

    Whether you want to get rid of your debt, quit smoking, start a side hustle, get married, or have children, all these goals are personal and very important to have on your list.

    How to Set Goals

    The best way to guarantee the fulfillment of goals is to set them the right way.

    SMART Goals

    Every goal you define has to be smart[3]. No, we don’t mean the adjective. We’re referring to the acronym here.

    SMART stands for:

    • Specific
    • Measurable
    • Attainable
    • Relevant
    • Time-Bound

    In summary, your specific goals should be very well defined. They shouldn’t be generic or broad, and every detail should be clarified. 

    If you want to start running, how often do you want to do it? How long will each session be? For how long will you continue this habit?

    There has to be a connection between your goals and beliefs or you’ll never be able to achieve the results you want. Most importantly, do not be unrealistic. You cannot learn to fly, and forcing yourself to try is only going to demotivate and stress you out.

    Some Rules

    Whenever you’re working your way through this goal setting guide, keep a few things in mind.

    First and foremost, prioritize your goals. Things that you want to achieve the quickest should be worked on first.

    Don’t act in a way that is self-centered. There are people around you who will be affected by the things you do. Keep them in mind when defining goals.

    Lastly, do not let yourself forget the bigger picture. Whether it is the long-term result or the connection of the goal with your desire, keep it in mind to keep yourself from getting distracted.

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    I also recommend you to watch this video to learn 7 strategies to set goals effectively:

    How to Reach Your Goals

    You can ensure your progress by following some foolproof tactics. The use of relevant helpful tools can also keep you on the right track.

    Tactics

    One rookie mistake that most people make is that they work on too many goals simultaneously. Create an action plan and focus on one thing at a time.

    Divide your goal into smaller, easily achievable tasks. Taking it one step at a time makes it way easier. However, do not break them down too much. For example, for long-term goals, you should go for weekly checkpoints instead of daily ones.

    Also, keep track of your progress. This will keep you motivated to work harder.

    Tools

    With so many categories of goals and so many aims, it is almost impossible to remember, let alone work, on all of them.

    Luckily, numerous goal tracker apps will help you keep track of your goals, as well as your plan to achieve every single one. Have at least one installed in your smartphone so that your plan is always within reach.

    Bottom Line

    In conclusion, using a goal setting guide is not rocket science. All that it takes is strong will power along with all the knowledge that you’ve learned so far.

    Try out the tactics and tips mentioned above to be able to set successful goals so that you can achieve the life that you want!

    More Tips on Achieving Success

    Featured photo credit: Danielle MacInnes via unsplash.com

    Reference

    [1] Smart Insights: The difference between marketing objectives and marketing goals?
    [2] Confluence: Goal Setting Theory
    [3] University of California: SMART Goals: A How-To Guide

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