Sunday, April 11, 2010

Measuring Success

When you think of successful people in the business world, you might think of a CEO or a Wall Street investor. You might also think about the power and wealth that these people possess. Just like these people, you want to be successful and enjoy power, wealth, and the “easy life.” However, being “successful” usually isn’t easy. Some of the most successful people have spent countless hours studying and working to get to the top. Even when they’re at the top, they still work stressfully long hours (70 to 80 hours per week). But all this hard work yields outstanding rewards.

To obtain success, you need a strategy. John M. Brausch of the Institute of Management Accountants wrote, “Success is all about getting your strategy right, working smarter not harder, and managing the risks that come along with growth.” He also suggested to look at your past successes, explain why you were successful, and create a strategy to duplicate that success in the future (Brausch).

My friend who is an electrical engineer said, “You can’t improve what you do not measure. When you measure your success, you always find things you would do different or improve. Take a moment to look back on your success and ask yourself if you could produce the same results today. If not, find a way to improve and hone your skills that you may be successful with everything you aspire to do.

Brausch, John M. “Managing for Success.” Strategic Finance. April 2010. Pg.6

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