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Success can be different for everyone, fame, fortune, happiness!  All of those and more!

How you define it will vary as will the factors shaping it. It can look, feel and be different for us all!

If you are a Business owner it also depends on your lifestyle, goals and aspirations and what you hope to achieve with your small Business, now and long term. 

When you consider all these factors and influences, and which are the most important, you might see Success as providing benefits.   

The 6 Benefits of Success  

1. Improve Cashflow
2. Reduce risk
3. Have clear direction
4. Take action
5. Develop a winning Team
6. Having fun

Success looks like, feels like: 

• achieving specific measurable goals and objectives, 
• overall satisfaction, belief in self and Team
• being emotionally and financially stable, peace of mind
• doing what you love and enjoying your work everyday
• reward with profit for hard work
• making a difference, with personal effort, quality products and service.

Let's look more closely at the 6 Benefits of Business Success: 

1. Improve cashflow:

A regular and smooth flow of money in and out of the Business necessary for daily operations, and costs including paying employee's, purchasing stock, and taxes. Positive cashflow indicate the Business liquidity. 

There are 9 Ways to Help get your Cash flowing. Click on link.....https://blackburnaccounting.com.au/blog

2. Reduce Risk: Risk comes in different ways requiring different strategies to manage.

• 4 risk-mitigation Strategies are; avoidance, reduction, transference and acceptance.
• The key is to identify risk, assess and mitigation, taking steps with contingency planning.
• Control risk using testing, periodic internal inspections or audits to identify what risks are present and what controls are needed to protect your assets.
• Ensure the Business has the appropriate insurance cover with the necessary Insurance policies.  Review, update and renew as needed.

3. Have clear direction:

Know what you want for your Business, where you are going and how you will get there.  Once you have clear direction things are simplified for everyone. By clearly articulating your vision, goals and expectations it creates a shared understanding for all in working towards common goals.

Having clear direction gives meaning, purpose and drive to you and your Team. It enables decision-making aligned with overall strategy and goals, fosters better performance and facilitates innovation. Without clear direction there can be confusion, missed deadlines, distractions and decreased productivity.

4. Take Action:

Making it happen! With Strategic goals formulated now is the time to take action and execute the plan, to make the vision a reality. Gather your Team, collaborate, consult and lead by example. Monitor progress, review, and evaluate to ensure projects stay on track.  

5. Develop a Winning Team:

Behind every successful Business and Business leader is a strong, committed Team.  Creating a winning Team requires a combination of factors, including trust, collaboration, continuous learning, celebrating success, accountability and leadership. Leaders who invest in their staff with support, training, reward and recognition will enjoy the benefits. 

6. Having fun: 

Running and owning a Business is tough and serious stuff.  Bills to pay, customers to find and please, stock to manage. And people’s livelihoods are at stake, including your own. Working harder and longer and doing more yourself may seem the answer. BUT it isn’t. 

As a Business owner you get to do what you love. The key is to ensure you are still having fun and enjoying the experience of running your own Business. That means, avoid being the Business, spreading yourself too thin and never letting go. You will burn out! And if you lose your passion for your Business it won't be any fun working in it.

What to do! 

If you are a Business owner you can choose what you do yourself, and your responsibilities. Structure it so you don’t get caught up in the doing, ‘being’ the Business so that it depends on you. This is a common problem that holds owners back and constrains growth. 

Delegate or outsource to remain inspired and energised.  You will add the most value to your Business by doing the things you really want to, the things that make your Business different and require your special skills and experience. Be in charge of how you spend your time. The everyday tasks can be done by someone else. This approach frees up your time and also allows for thinking about and planning for the future.

In conclusion, humans are social creatures and having a little fun helps us in many ways, including, bond as a Team, be better equipped to deal with challenges and stresses and helping control our emotions. Having fun does matter. Building fun activities into your workplace will provide benefits for everyone!