Advertising
Advertising

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.

Advertising

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.

Advertising

“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.

Advertising

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.

Advertising

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.

The Secret of Success: 10 Tough Things to Do First Achieve Career Success at Any Age: 17 Things to Keep in Mind 18 Ways to Have Effective Communication in the Workplace What Are Measurable Goals and Why You Need Them For Success 4 Effective Ways to Motivate Employees During the Busy Holiday Season

Trending in Smartcut

1 How to Ask for Help When You Need It Most 2 How Much Do You Need to Give Up to Start Over? 3 Is It Really Better to Step Out of Your Comfort Zone? 4 Do You Want to Know the Secret to Living a Fulfilling Life? 5 What Is Creativity? We All Have It, and Need It

Read Next

Advertising
Advertising
Advertising

Last Updated on March 19, 2019

How to Ask for Help When You Need It Most

How to Ask for Help When You Need It Most

Nod your head if you’ve ever had to ask for help at work, at home or anywhere else. Now, nod again if you’ve ever felt shy or silly when doing so.

I’m sure some of you reading would have nodded twice!

Whether it’s not knowing the answer to a question in class and looking around to see if your classmates knew, getting stuck on a project at work and needing to get additional input from colleagues, or just being in a new city and needing help with directions, we’ve all been down this road before.

We may not know what to do, and clearly would benefit with some help, yet we won’t–or are afraid to–ask for help. We either very reluctantly do so eventually, or decide to suffer in silence altogether.

Why Are We so Afraid of Asking for Help?

So what stops us from seeking the help that we need? Sometimes it might be that we fear requesting assistance as we don’t want to seem weak, needy or incompetent in front of strangers, our peers or superiors.

Especially if you’re in a competitive work environment, there is an understandable fear that if you let your guard down, this information about you not knowing will be used against you. If you’re too open about asking for help, people may start associating you as the leech who’s always relying on someone, and you’ll start to appear incapable in front of your peers. And as much as you would like to play a fair and just game, the reality is that not everyone thinks that way. There will be overly aggressive individuals out there who will gladly walk over you to get to the top in their career.

Advertising

Not to mention, your reputation is at stake. If word got out that you had to seek help of some form, you’ll feel embarrassed or perhaps insecure. You might feel less confident about your abilities and worry about what others think of you. You’re afraid to attract that kind of attention at work.

Unfortunately, we all have a natural tendency to judge ourselves harshly–often thinking of situations much worse than they actually are in reality. As a result, we also miss out on a lot of potential knowledge or help. If only we were able to see past all that self imposed negativity! Or, at least learn how to manage such situations in a more confident manner.

Meet Paul

I have a friend by the name of Paul who runs his own company. He started at a young age and is already a very successful business man at age 40.

When I ask Paul to name something he does to stay focused and on track in life, he tells me that he has a life coach. He has regular monthly sessions with a life coach who helps him through different aspects of his life.

“It almost sounds like a counseling session”, I told Paul.

He simply replied, “Yes.”, with a smile.

Advertising

To Paul, the purpose of having a life coach is to give him perspective and to call out on areas of his life that he may have missed out on or neglected.

He see’s having a life coach as a benefit to his success, and not as a sign of weakness.

We’re Seeing It All Wrong

This got me thinking. Many of us automatically assume that going for counseling, taking self help courses, or seeing a life coach means that something unpleasant has happened or is happening in your life. The word help is regarded as a negative.

But the truth is, if we can turn “help” around to see it as a positive act, then going for any of the above would actually be an empowering act.

You need not be in some dire state to seek change. You also don’t have to be at some terrible dead-end or crossroad in life only to seek help. It may just be that you’re wanting to better improve your wellbeing, or to go through some self development to become a better you.

Everyone goes through periods of change in their lives. Whether it’s naturally occurring, or a ‘forced’ change, it’s always meant to improve our well being, and allow us to become better versions of ourselves. But we can’t always make or go through change alone, and that is completely normal. So we should embrace that fact and know that seeking help from someone or somewhere is a perfectly normal thing to do, and not something to be ashamed of.

Advertising

Help Is Not a Form of Weakness 

In Paul’s case, having a life coach helps give him an extra set of eyes so that he can envision his life and plans much clearer.

As a busy working professional, he has many responsibilities to attend to alongside being a father and husband. In order not to burn out or lose sight of his goals, Paul’s life coach acts as a reminder and offers him new insights to problems or situations that Paul may find himself in.

This is applicable to any form of help and not limited to what a life coach can bring to the table. Research has proven that having a support system has many positive benefits, such as higher levels of well-being, better coping skills and a longer and healthier life.

If this isn’t enough to convince you, even the most successful people like Richard Branson and Warren Buffet require asking for help and have other people advise them.

Take athletes for an example. Behind every successful athlete, or any athlete for that matter, is a coach. He or she is there to train and guide them on their path to greatness. Coaches have the ability to point out blind spots and play on the athlete’s strengths. The athlete focuses on a current or specific training routine, but the coach already has a bigger plan mapped out and that one training routine that the athlete is focusing on, is but one of many more training routines that will eventually lead to the athlete succeeding and outperforming. Without the coach’s vision to map that out and guide the athlete, the athlete will be training blindly, and not maximising his efforts.

Seeking Help Is Strength

By taking an active step in seeking help or advice, you’re actually taking control of your life, and not letting external circumstances (such as what people think) affect how you behave and perform. It is courageous to accept your weaknesses!

Advertising

So if you’re at a point in life where you’re wanting some change to happen, or feel stuck in a rut, it’s time to turn your weakness into strength by seeking help.

Here at Lifehack, we’re committed to your personal development. We want to be your transformational coach, to pull you out of that rut so you can be up and going again. Even if you’re not feeling stuck or at a crossroad, there is always more that you can do to improve and upgrade your life.

Want to learn how to save more time than wasting it? Or how to find out what you should be focusing on at present? Perhaps you just simply want to learn how to ignite that spark of motivation within you again to either pursue new interests or to continue pushing ahead with existing goals.

Learning never ends. So no matter your age, we’re here to guide you towards becoming a better you.

If you’re keen to take that step towards becoming a better you, begin a journey of transformation with us here!

As we guide you through important lessons and Cornerstone Skills that will significantly change your life, you will live the life you’ve always wanted!

Featured photo credit: Andre Maliik via unsplash.com

Read Next