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business success

A Word on Defining Business Success

jennifer cox

Jennifer Cox is one of the founders and serves as president of the National Network of Embroidery Professionals (NNEP), an organization that supports embroidery and apparel decoration professionals with programs and services designed to increase profitability and production.

What is your definition of a successful business? If you have not set any benchmarks, how will you know when you have achieved success? One member of NNEP, DC Caldwell of the Mad Hatter, laughed when we were talking about how he measured success in his business. He has been in business for more than 20 years, and he said, “My definition of success is that I have the ability and the freedom to make it up as I go along, so I guess I am pretty successful!”

Will you be successful when your business hits a certain dollar amount in annual sales? When you pay yourself a certain wage? When you complete a certain number of orders? When you have a certain number of sewing heads? When you hire staff when you move into a retail location, or what?

Only you know what success looks and feels like for your business. If you have staff, you need to make sure that your team knows what your goals are. When everyone is moving forward together, you will achieve success!