Entrepreneurs can run into millions of different problems over thousands of different markets. These problems lead to failure, which may or may not deplete the entrepreneurial spirit in the once exploring adventurer. Though millions will succeed, tens of millions will fail. To avoid the catastrophe of failure it is important to define acquirable goals that remain rigid minimums in the coming years of the company. These must be rigid, but vague in direction as companies tend to realign, redirect, and rebrand in the first several years of the company. These are several milestones that would help companies to reach success after 5 years of laboring:

Maintain a goal for how much money you want to acquire in 5 years as it will help encourage growth and discourage mismanagement of funds.

Repeat Clients
A defined number of repeating clients will settle many issues as it satisfies the position in the market that you are pursuing.

Realistic Scalability
A projection of growth can be very encouraging or very discouraging. Making something that is realistic considering the market can be not only achieved but exceeded.

Though not required, specifics regarding the immediate team can be highly useful, whether it’s how many there is on the team or what ratio there is of employees in each area. This will keep the company focused and void of any unfair leniency in any of the branches.

Authority / Significance
Being a solid factor in any market is something every business wants, and every business strives for. So, by gathering a community that is dedicated to any particular company, one is able to quantify the company’s authority in the market.

This is the most ambiguous of measurements as success is defined differently by everyone. Success can be measured, but only by the grounds of those defining it.

The list can continue. There is no set milestones to have, but use these and understand what ideals it may take to find future satisfaction as an entrepreneur. One step at a time.

Article by
Christian Peterson
Marketing Manager

Christian Peterson