It’s surprisingly difficult to sort out whether you’re succeeding as an entrepreneur. You most often will find evidence in the little things. You don’t have to wait for a fat bank account to show you that you’re on the right track. Here are a few signs that will help you figure out if you should stay the course..
- You’re Trending
People like to talk about good things, strong and exciting ideas tend to be shard to often, so if people are talking about your start-up (and not in a negative manager) you’re probably in a good spot. Take a look at various social media circles and see you’re trending, it is especially good if they’re discussing things among themselves without your prompting.
Trends are not limited to discussion. People choosing to wear your brand or using sticks with your brand on them can count for just as much. It increases your exposure and shows they’re not just please with your product, but are eager to let others know about it as well.
- You can Adapt.
Adaptability and flexibility are important traits for an entrepreneur to have, although it is often difficult to exhibit those traits. Sure, you may know that your product’s branding needs to shift or add a new feature, but you may not have the capital to enact these changes.
When your succeeding, you’re not only willing to adapt to the market, but you’re also able to. You have the resourced and understanding required to make the right adjustments because you have your fingers on the pulse of the audience, as well as enough revenue to power the start-up through its evolution.
- Your Excited Again
It is natural to be excited when you first become an entrepreneur. You’ve got a big idea and a start-up to make your dreams real. However, it doesn’t take long for the business to turn into a grind. That’s a natural part of the process. If you do something often enough, it becomes almost automatic.
But then something changes, you feel something in the air. You’re feeling a good kind of nervousness. You’re excited again. whatever the cause of this excitement, it is often a sign you are about to make a breakthrough
- Criticism is Welcome
Criticism and feedback are important parts of a successful start-up. Without both, you can’t adjust your products to fit the customer’s needs. If you can’t improve and innovate, you may as well shut it down before you spend anymore money.
Often times the problem lies in the entrepreneur rather than the customer. Customers are eager to share their thoughts if given the opportunity. It’s difficult to hear criticism of your product, but if you can take it, you’re ahead of those who can’t. Criticism is free advice.
Not all feedback will be helpful. For every customer who wants to help improve your start-up there are plenty who’re just want to bring you down. Shrug them off and focus on helpful advice.
- Your Overhead Costs Seem Reasonable
Early in your start-up’s life, it may be difficult to determine how much of your overhead is acceptable, or even reasonable. Despite profit projections you’re ultimately working off of an educated guess. You’re not sure how much of the market is ready, or if you can even get their attention.
That all changes once you have a steady stream of clients and revenue. After a few months, you’ll have a clear idea of how your net income looks. From there, you can judge whether your overhead seems reasonable. If not, you can make the necessary adjustments to make your business more sustainable.
Figuring out when you’re turning a corner is important as an entrepreneur. When you see these signs, you can develop those acts, and phase out things that are holding you back. You can also use this information to help keep your employees pumped and passionate. Tell them about how your overhead costs are well within expectations. Let them know how excited your customers are on Twitter and how you saw someone wearing one of your T-shirts. Share your own excitement with them and infect them with the passion that drive you to chase your dreams.