Measuring Success

Measuring success is the process of tracking of your business' momentum and your progress on realizing your business plan. Tracking your success as you move forward with your business plan allows you to take a measured and managed approach to ensure you are on track. For this reason, it will be important to establish benchmarks and measurable goals to guide the way as your business plan unfolds.

Building upon the previous steps in the business planning process, you hopefully have the information and guidelines necessary to establish benchmarks and measure your performance along the way. The more traditional metrics include:

• Market Share
• Revenue
• Operational Efficiency
• Profitability

The important thing to remember is you have the ability to establish a measurable strategy that can be managed on the level of sophistication you do business which will allow you to realize your goals.