Welcome to Ask an Expert Business Series with Misty Lambrecht, the owner of
Webfoot Marketing and Design, shareing valuable insights based on her extensive 15 years of experience in business startups and advising in Lincoln County. What is success? The next time someone tells you that they want to have a successful business, keep in mind that the word "success" may mean something totally different to different people.
So, if you're an artist, success may be more about name recognition and having a piece of art placed in a prominent public place in your community, or selling a piece of art to someone famous, or having people seek out the name of the artist rather than the actual art itself.
Success with a construction company may mean having a well-oiled team that continues to work and build your business while you take a couple of weeks off each month to go fishing and enjoy the freedom of passive income, with the ability to do what you want and love.
To others, a successful business may be where you work really hard in the summer and take 3 to 4 months off every single winter, with a stable income to sustain that lifestyle. And to some, a successful business may simply involve doing what they love on a part-time basis, generating some income and saving it for a long-awaited dream vacation. Understanding your own definition of success in business can help you strategize and set goals that align with your needs. No one person has the same definition or vision of success.
So, if your goal is to own a business and manage it while having a great functioning team that
can continue the business in your absence, your goals may involve successful hiring, training, and finding the right people who share the same goals and vision for the business as you do.
If your goal is to become a well-known artist, your focus may be on which gallery you're
represented in and how you market yourself. And if your goal is to work hard part-time of the year, make money, and take time off in the winter, your aim may be to price your product effectively, sell as much as you can in a short period of time, and set appropriate prices to
sustain yourself during months when sales are slow.
Whether you're starting a business or find yourself caught in the routine of maintaining one, take a moment to reflect on what success really means to you. Are you reaching the goals that you want to achieve, rather than what others may define as the meaning of a
Identifying your own level of success and working towards it is a personal decision that may consider factors such as family, lifestyle, personal interests, doing what you love, making money, or finding financial security by supplementing other sources of income during specific periods of the year or stages of your life, like retirement. We encourage you to take a moment and define what success really means to you personally, and then set goals to achieve that personal success in your business.