What Does Success Mean For Your Business?

While evaluating your business’s success, it can be hard to know where to start. We like breaking down these goals into three different buckets: Metrics, People, and Business Objectives. 
Author
Taryn Hefner
August 11, 2022

When it comes to tracking the success of your nonprofit, you have so many options that it might feel overwhelming! We like breaking down these goals into three different buckets: Metrics, People, and Business Objectives. 

Let’s get into it! 

Metrics 

When you’re looking at metrics, consider things that you can tie a dollar amount to; this will also help you prepare for your end-of-year board meetings to discuss the next year’s budget! 

Specific items you can consider: 

  • Money distributed to families 
  • Money raised from fundraisers 
  • Meals served in the community 
  • Class or workshop attendance rates
  • The number of events hosted or sponsored 
  • Total volunteers trained 

Depending on your organization and the cause you’re supporting, some or all of these might not apply, so pick and choose as applicable! 

People 

The most important thing to any business, nonprofit and for-profit organizations alike, is the workforce. If your employees aren’t happy and effective, your business will surely fail. 

Take a look at: 

  • Employee satisfaction survey scores 
  • The number of new projects started
  • The number of completed projects 
  • The number of new hires 
  • Starting an intern program 

It can be tempting to only look at employee satisfaction survey scores; remember that those are only one facet into how employees are feeling. Often, it’s difficult for employees to be honest, especially if the survey can be tied to them either by submission style or handwriting, so consider an anonymous, online survey to gauge satisfaction. Then, be sure you take employee comments seriously and implement change as you can. 

When it comes to membership-based organizations, it’s essential that you look at how your members are feeling as well. For more on how to conduct surveys, either internally or externally, check out our blog post on collecting member feedback

Business Objectives 

If you want to instead look at the health of your business and how it’s growing, you might want to take these points into consideration:

  • New funding or grants 
  • New office locations, warehouses, or distribution centers 
  • New partnerships with existing organizations 
  • Offering new services 

You might also have specific objectives set by your board of directors or that your members are pushing for, so consider adding these to your list as well. 

Wrapping Up 

While evaluating your business’s success, it can be hard to know where to start. Hopefully these lists are a good starting point for your next board meeting! 

For more on building your membership organization, check out some of our other blog posts! 

Taryn Hefner