23 Mar 10 Wins Every Business Should Celebrate
As a business owner you are going to experience a number of peaks and troughs during your time in your chosen industry. There will be a number of lessons learned along the way, but you should never lose sight of how far you’ve come and how much you have achieved as your company has expanded over the years. When it comes to managing your business, it’s important to celebrate every milestone and success, as this not only keeps motivation levels high, but it also gives you a sense of whether your strategies are currently working. Most entrepreneurs will only see financial wins as a cause for celebration, but there are a number of different reasons for you to raise a glass to the successes of your business. If you are wondering what types of things you should be celebrating when your business reaches a new milestone, consider some of the ideas mentioned below.
- Your Business Reputation
When your business has a stellar reputation it makes every other angle of running a company much smoother and simpler. For example, when it comes to expanding your customer base or client demographic, it is extremely important to have good reviews from your current customers. You may want to look into enps, which is an employee net promoter score. This is essentially a measurement of how satisfied your customers are with your company. This is an extremely useful tool when it comes to measuring the overall customer experience that you are providing. When you have facts and figures to work from you can easily begin to make improvements to enhance your overall score.
- Employee Satisfaction and Motivation
As well as satisfying your customers, it is also extremely important to put your employees’ satisfaction and motivation levels at the forefront of your mind. For example, when you carry out a staff survey are your employees happy with where they work and how the business operates? If this is the case, then this is certainly an achievement you should be celebrating. Receiving positive feedback from your employees cannot only help to enhance your business reputation, but it will also attract new talent to your company. When you are running a happy and motivated workforce you should give yourself the recognition you deserve for making that happen.
- Financial Milestones
This is probably one of the most obvious areas that your business should be celebrating. Setting goals and targets with regards to finances can help you to stay on track and remain motivated even when you are going through the toughest of times with your business. Any small financial milestone should always be recognized and celebrated as it is an indicator that your hard work and carefully-thought out strategies are paying off. You may want to measure your financial milestones in small or large increments; this completely depends on the type of business you are running and how much your annual turnover is.
Having a certain level of exclusivity when you launch a new product or service is definitely something to give yourself a pat on the back for. Coming up with brand-new and innovative ideas that have never been seen before in your industry shows that your business is forward thinking and ahead of the curve. Although this may not necessarily be a tangible win, it is certainly to be celebrated if you are the only company on the market producing a specific product or service.
- Retention Levels
When your valued employees reach a milestone with regards to their years of service at your company, this is definitely something you should celebrate. For example, when a new hire reaches their first year with you or a long-term employee hits the 10 year milestone, this shows that your retention levels are excellent. This is something to be celebrated because it highlights that your place of work is enjoyable and appealing to your employees. In a similar light, it is also a good indicator that you are not wasting money by churning out staff at a quick rate. It obviously takes time and resources to train new starters, so it is in the best interests of your company to retain the people you already have.
- New Talent and Hires
If you are a large company who regularly searches for new talent and hires, then you should certainly celebrate when you find someone that is the perfect fit for your business. Although hiring a new employee may seem like an everyday task, it can be rare to find the right person. When you do discover someone who can bring a lot to the table, you should consider this a very big win for your company!
- Making a Difference in The World
You probably have a number of different values with regards to the impact that your business has on the world around you. When you start to notice that your company is making a difference and helping people this is something you should wholeheartedly celebrate at any given opportunity. Whether you want to help local charities or contribute to a healthier planet there are so many ways in which you can make your mark and cultivate change in the world.
- Social Media Growth
Nowadays, having a strong social media presence has never been more important. Celebrating every new interaction, follower and comment is extremely valuable. When you have a strong social media following it can often have a ripple effect on your number of sales and referrals, which will always be a positive outcome for your business.
- Launching New Products or Services
As your business grows and expands it is highly likely that your services and products will evolve too. Although this is a natural part of the process of being an entrepreneur, it is important to celebrate the moment when you finally have a new product or service on the market. It can take a lot of planning, research and money to launch a brand-new product or service, so this type of hard work should always be celebrated whenever possible. Similarly, your employees will probably put a lot of time and effort into these processes too, so it’s only right to give them the recognition and rewards they deserve when you finally launch a new product line or range of services.
- Goals and Targets
When your business reaches a goal or hits a specific target, it is very important to celebrate this win with pride. At the time it may feel as though you are simply ticking a box and carrying on with the next task at hand, however it is more important to acknowledge how far you’ve come. Taking the time to analyze the process of how you reach that goal or surpassed a specific target, can be extremely valuable when it comes to reaching bigger goals in the future. This is why goals and targets should always be celebrated!
Hopefully, the ideas mentioned in this article will give you a sense of all of the different achievements you could be celebrating. Of course, you want your business to make money and thrive financially however these aren’t always the best measurements of success and growth. Similarly, some of the milestones spoken about above can eventually lead to greater financial success. Most of these wins go hand-in-hand with making more money, gaining more clients and growing your business in a sustainable way for the future. So if you haven’t celebrated any wins for your business recently, now is the ideal time to take a step back and consider how you may want to acknowledge these in the near future.