How To Measure Success As An Entrepreneur Beyond Money

Running a small business gives us the autonomous and satisfying chance to redefine success. Instead of defaulting to numbers on a spreadsheet, we can explore more meaningful ways to understand whether we’re on the right track.

Coming from the corporate world, many of us have been trained to measure success through financial metrics like profit, revenue, and quarterly growth targets. It’s understandable. In corporate environments, success is often synonymous with hitting KPIs and earning bonuses. But as small business owners, we chose this path for something different - freedom, fulfillment, and a deeper sense of purpose. So why do we continue to measure our success using metrics that just don't feel right?

Running a small business gives us the autonomous and satisfying chance to redefine success. Instead of defaulting to numbers on a spreadsheet, we can explore more meaningful ways to understand whether we’re on the right track.

A values-based approach to success can help us stay connected to our purpose and recognize the wins that revenue can’t always capture. Here are four key values to consider, along with reflective questions to help guide your journey as a small business owner.

1. Accomplishment: Progress That Feels Meaningful

Accomplishment isn’t just about landing new clients or hitting a revenue milestone - it’s about making meaningful progress toward what matters most to you. As a small business owner, that can look like finishing a project you’ve been working on for weeks or completing the tasks you committed to for the day.

Ask yourself:

• Did I complete the key tasks I set out to do today or this week?

• Am I seeing progress on long-term goals, such as launching a new service or developing my coaching program?

• Have I received positive feedback from clients, peers, or my audience that reminds me of my impact?

Sometimes, a simple thank-you note from a client can feel as rewarding as closing a big deal! Personal growth counts here too. Have you developed new skills or tackled something that once felt overwhelming? Recognizing these wins helps you see accomplishment beyond the numbers.

2. Balance: Building a Life You Love

One of the biggest reasons many of us are drawn to entrepreneurship is to reclaim control over our time and create balance. As small business owners, we wear many hats, and the juggling act can feel overwhelming. But the beauty of enterpreneurship is that we get to decide how and where to spend our time.

Reflect on:

• Am I setting aside time for family, self-care, or activities that recharge me?

• Do I feel energized at the end of the week, or am I running on empty?

• Am I maintaining a healthy balance between content creation, client work, and business development?

Remember, you’re the CEO of your time. Success might mean stepping away from your desk for an afternoon walk or intentionally prioritizing time with your family. These small, conscious choices to honour your time can be powerful indicators of small business success.

3. Challenge: Growth Through Stretching Yourself

Growth doesn’t happen without challenge. Some of the most rewarding successes come from facing obstacles head-on and learning through discomfort. I know this personally and I have coached many who would agree. 

Consider:

• Have I tackled any tricky situations or solved a challenging problem this week?

• Am I stepping outside of my comfort zone by trying new strategies or attending networking events?

• When something didn’t go as planned, did I take the lessons learned and apply them to my next attempt?

Stepping into challenging situations and growing from them is a hallmark of small business success. It’s not about avoiding mistakes even though they can feel very painful at the time - it’s about learning and improving as you go.

4. Excitement: Staying Energized by Your Work

Excitement is a powerful indicator that you’re aligned with your purpose. While there will always be tasks that feel mundane (hello, admin work or for me, social media!), your overall sense of joy and motivation matters.

Ask yourself:

• Am I excited about the projects I’m working on?

• Do I feel motivated and energized when I look at the week ahead?

• Am I experiencing moments of flow - those times when you’re so immersed in your work that you lose track of time?

If you’re feeling dread or constant overwhelm, it’s a sign that something may need to change. On the other hand, if you regularly experience excitement and joy in your work, that’s a sure sign you’re moving in the right direction.

Redefining Success on Your Terms

It’s easy to default to revenue as the primary measure of success - it’s clear, familiar, and tangible. But owning a small business gives you the freedom to expand your definition and include values like accomplishment, balance, challenge, and excitement.

Instead of asking, “How much did I earn this week?” consider asking, “Did I make time for my morning walk?” or “Did I hit a small but meaningful milestone?” Success is about so much more than financial gains. It’s about building a small business - and a life - that aligns with your values.

So, what does success look like for you this week? Did you do something that scared you? Did you experience a win, big or small, that made you feel proud? I invite you to celebrate those moments and expand our view of what it means to truly succeed as small business owners!

By taking time to reflect on these values and asking yourself the right questions, you’ll not only measure your success more holistically, but you’ll also stay connected to the reason you started your small business in the first place. ❤️