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Published on November 6, 2018

How Do You Measure Success? 10 New Ways You Need to Know

How Do You Measure Success? 10 New Ways You Need to Know

“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

A Successful Business Means…

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. Grow 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.

A Successful Life Means…

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. Good 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. Learning 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.

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.

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Last Updated on July 18, 2019

How to Sharpen Your Transferable Skills For a Swift Career Switch

How to Sharpen Your Transferable Skills For a Swift Career Switch

Most people grow up with dreams to go to college and graduate with high-paying job offers waiting for them the week after graduation. Others may favor non-traditional career paths. But the desire is the same: to find a job we love where compensation is commensurate with experience.

However, plans change. For instance, what started out as a dream to be a surgeon is cut short by a nasty injury and you’re debating how to transition into a new role. Or you might be facing being let go from your current employer and are anxious about “options out there.”

Whatever the case may be, switching careers can be intentional or unintentional. What matters is that you’re well-prepared, and the only way to do so is to learn new skills — hone in on your transferable skills.

Why Hone in on Your Transferable Skills?

There are several reasons you need to develop these skills if you want to go far in life and your career. In a nutshell, honing in your your transferable skills can lead to:

Better Job Offers

Continuous assessment and improvement of your skills widens the pool of job offers for you to make selections from. You’re no longer tethered to one industry as you’re able to lead your career by design, not by default.

People with transferable skills on a resume also open up opportunities for more potential employers.

Increase in Pay and More Responsibilities

You’ve heard the saying “with great power come great responsibility.” In your case, transferable skills make you more marketable to employers which could lead to pay raises.

Although this isn’t an automatic process– you have to be proactive about what you want in the marketplace, there is a chance that these pay raises will come with change in titles and roles.

A Shot at Entrepreneurship

Yes, changing career paths also includes the possibility of working for yourself. With these skills and work experience, you could live anywhere in the world and design a life and career you want.

We’ve talked about why you need to strengthen your transferable skills but what are some these skills, and how can you work on them?

13 Tips to Sharpen Your Transferable Skills

1. Update Your Resume

You might be surprised to know this but yes, updating your resume is a skill. The very first thing you should do while thinking about switching careers is to highlight attributes that make you very desirable candidate to employers.

Think about your volunteer experiences, freelance projects, and school projects. Although they might seem insignificant, they demonstrate your ability to deliver results that several companies are looking for.

While you might have held several positions since college, switching careers will require you to have a different type of resume.

There are three different types of resumes: functional, chronological, and a combination resume. However, if you are looking to switch careers you’ll want to have a functional resume. A functional resume is strengths-based that emphasizes skills that are transferable rather than a collection of dates and job titles.

2. Brush up on Your Communication Skills

Every attempt to get ahead in business and in life starts with the need to communicate effectively. Whether it is interpersonal, intercultural, or multi-generational, the ability to be seen and heard while respecting the boundaries of work relationship matters.

That’s why it’s one of the top skills you need to master. Strong communication skills allows you to effectively tailor your messages to specific audiences, which will make you a stronger asset to any organization.

To hone this skill:

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Pay attention to your listening skills. To communicate effectively, you need to first learn how to understand others.

Your ability to decode overt and implied messages, no matter how nuanced they are, is key to knowing how to foster deep relationships with others.

This article can also give you effective ways to enhance your communication skills:

How to Master Effective Communication Skills at Work and Home

3. Learn Technical (or Business) Writing

Another form of communication, writing, is a skill that can take you anywhere.

Companies communicate a lot through written memos, emails, newsletters, and other audio-visual means. But at the crux of this all is someone or some people who are tasked with translating the organization’s vision into statements anyone can understand.

To hone this skill:

Consider taking some free or paid classes online. You can accomplish this through several community colleges or online platforms like Lynda, Udemy or edX .

4. Practice Public Speaking and Presentation Skills

No matter how intelligent you are, no one will take you seriously if you’re unable to pull off a decent level of persuasion through presentation skills.

Most presentation can be done through either electronic devices or require your physical presence. Your chosen career may require you to be in front of several hundreds of people or you could be charged with developing materials for presentation.

To hone this skill:

Volunteer to lead projects that give you some responsibility for putting together presentations.

Also, try taking courses that will improve your public speaking skills if you feel lacking.

These tips on public speaking would be helpful too:

The Ultimate Public Speaking Tips to Hook and Impress Any Audience

5. Get Comfortable with Identifying Problems and Solutions

Every organization has got its problems no matter how greener the grass is on the other side.

How to hone this skill:

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Practice being resourceful.

Do you know where to find every company policy on the intranet in less than five minutes?

Think about a time you noticed some inefficiency at work and proposed a solution. Think about instances where you lent your voice to a cause which resulted in improved processes for your department.

No matter how small or inadequate you might feel, you’ve got some problem-solving skills that some organizations want.

If you look for more ways to improve your problem solving skills, take a look at this article:

6 Effective Ways to Enhance Your Problem Solving Skills

6. Recognize Your Team-Building Ability

Your ability to smoothly switch careers also depends on how well you can energize your team, especially if you’re aiming for a leadership role. Unfortunately, team-building usually isn’t something you learn on the job in most careers unless you hold a managerial position.

The good thing is that you possibly know one or two things about team-building. Think back to moments in college when you had group projects with colleagues and had to work with 3 to 4 other strangers for months. Were you able to get past your differences and disagreements to focus on the uniqueness of everyone at the table?

Making a career switch might require that you work with multidisciplinary teams whether you have a deep knowledge of what the other team does or not. I can easily think of doctors, nurses, physical therapists, and social workers working closely to achieve the goals in a patient’s care plan.

How to hone this skill:

Look for collaborative projects and team building activities that excite you and challenge yourself with new possibilities.

Try some of these tactics to keep your team motivated as well:

17 Proven Tactics for Motivating Employees and Building a Stronger Team

7. Lean into Your Leadership Skills

Although similar to the previous point, leadership skills extend far beyond building teams, managing time sheets and correcting behavior.

What I’m referring to here is your ability to develop a vision, believe in it, and inspire buy-in from everyone involved. This isn’t about knowing how to run a particular machine; it’s about how to lead a team of people with various backgrounds, experiences, and ideas of how things should be done.

How to hone this skill:

Although more complex than the rest, it all starts with an introspective look into your strengths and weaknesses. Then get a mentor or a coach who can bring out your leadership qualities so you can operate from a place of strength.

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Learn more about the effective leadership types here:

5 Types of Leadership that Help You Build a High Performance Team

8. Improve Your Analytical Skills

Are you good at taking large amount of data and interpreting them? Your skills could come in handy.

Organizations are looking for people to make sense of the data around them, explain how it affects profitability, and make projections based on it. Best of all? You don’t need to be an accountant to be analytical.

How to hone this skill:

Try taking data interpretation classes online or at a community college. Learning Microsoft Excel or Access is also a plus. If you’re ambitious enough, you could consider getting additional certifications to up the ante.

Take a look at these ways to help sharpen your analytical skills:

What Are Analytical Skills and How to Strengthen Them For Success

9. Don’t Discount Your Time Management and Prioritization Skills

How good are you when it comes to deciding how important tasks are, organizing schedules, and coordinating plans?

Should you be willing, there is a market waiting for you out there. Organizations and busy executives are always looking for talented individuals to outsource these tasks to.

How to hone this skill:

Although not everyone possesses secretarial superpowers, you can improve this skill by focusing on taking huge tasks and breaking them into smaller goals or steps in order to achieve a bigger goal.

Here, you can learn to prioritize to achieve more:

The Ultimate Guide to Prioritizing Your Work And Life

10. Embrace Your Creative and Critical Thinking Side

Although it’s often believed that creativity is for the arts and right-brained people, I believe everyone is capable of being creative. In fact, most organizations recognize creativity as a vehicle that will drive successful inventions in the future.

How to hone this skill:

Try doing something fun. As simple as this sounds, you’d be surprised to learn how much. In fact, behavioral and learning scientist, Marily Oppezzo, says taking a walk might be all you need to get your creative juices flowing.[1]

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Anyone can be creative, you just need the right way to train your brain:

What Is Creativity? We All Have It, and Need It

11. Don’t Stop Learning Tech Knowledge and Skills

Being tech-savvy is a huge plus. If you have an affinity with computers, software applications and are abreast of technological improvements, it is a transferable skill that is worth highlighting.

You don’t have to be a young college graduate with silicon valley dreams to work

How to hone this skill:

All you need is the determination and the readiness to learn. This article will give you some ideas on the types of skills to learn:

How to Improve Your Computer Skills to Get Ahead in Your Career

12. Build Networks and Relationships

You aren’t free from networking. Not at the moment. With your goal to switch to a different career, your networking skills will come in handy.

Fortunately for you, networking doesn’t have to be so hard.

How to hone this skill:

Attend conferences and job fairs. Chances are you already have people in your network you can move you closer to your dream career.

To enhance your networking skills, take these steps:

How to Network So You’ll Get Way Ahead in Your Professional Life

Final Thoughts

Although there are several people with the same qualification and degree(s) you possess, what ultimately determines hireability comes down to a myriad of things such as culture fit, how teachable you are, cultural sensitivity, inter-generational awareness, and your ability to navigate uncertainty.

You have a chance to stand out by letting your dream companies know how these soft skills make you an invaluable asset, and how saying ‘YES’ to you is a win-win for both parties.

Happy career switching!

More Resources About Career Advancement

Featured photo credit: Unsplash via unsplash.com

Reference

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