Benchmarks, or milestones for every small business should include some of the following: Your business model has proven to be successful and you are making a profit at your business! Not everything in a first business plan will work, but recognizing where to make changes to maximize profits is huge as a small business owner works their way towards success. Also establishing repeat customers is key, they are an income stream that you can count on if you have treated them right. Repeat customers are satisfied customers. Also when you expand your business, take on new locations, install more equipment are all ways to measure a successful small business.
- By operating your business model and turning a profit, tweaking your model here and there as you go.
- Being able to finance the growing of your business through new locations or even new equipment.
- learning how to market effectively for your customer base. It must be work but be within your budget.
“The milestone you’re working towards here is establishing a strategy that is cost-effective, scalable and, most importantly, resonates with customers.”