The Swartz Report: How do you define success?

How do you define success?By Donald Swartz, President

How do you define success? Since I started working 36+ years ago in the business world, the question seemed fairly obvious to me… “it’s all about revenue.” And success is defined by how much that revenue exceeds expenses. While this may be a result of success, does it define success? Are there more components making up a successful model than purely the financial component?

The readership of this monthly blog appears to be increasing. By definition, this should be considered a success as my reach is growing month over month and year over year. But what if the message is stale or there’s no reaction/interaction? (Comments positive or negative, responses of similar or shared experiences, etc.) Is this still a successful and worthy component of the business?

What measurements do you consider when determining success?

KPIsYour feedback is of great interest to me – what measurements do you consider when determining success? Is it purely financial or are there emotional consideration as well? How do you factor in quality-of-life issues, the retention of employees and their “happiness” at the work place? What would you consider your KPIs (Key Performance Indicators) to be in your respective industries?

As we begin to prepare for the 2023 tax year, these are aspects we need to keep in mind. If we don’t tend to the little things, we will never accomplish the big things and I am curious how others view success.

On another note…

I read my blog from July of 2021 (if you’re interested in reading it as well, please click here.) And while there were no road trips with my daughter these past 30 days, I was able to create a trip with my son as he begins his professional journey.

Similar to last year, we started our trek to Syracuse, albeit not as direct as previously executed. This included a quick stop in Walcott, IA, home of the largest truck stop in the country. (Oh, and by the way, a current client! To learn more about Iowa 80 Group, please click here.)

After that, dinner in South Bend and overnight in East Lansing. A quick little drive around Spartyville and off to Ann Arbor for lunch before heading over to State College. Unfortunately, significant traffic delays along Interstate 80 forced us to scrap dinner plans at Penn State, so we hustled straight to Syracuse.

Being a Big 10 guy, I enjoyed seeing the other campuses and with all the conference realignments occurring, maybe ND will join the best conference some day! I will take Iowa City over all of them, except when walking across the Iowa River in January and February. 😊

Enjoy the rest of the summer – stay safe, stay cool, be considerate of others and as always, thank you for your confidence in our companies.  Please share any comments or suggestions by replying to the blog or email directly at dswartz@swartzaai.com or dswartz@indurantetax.com.

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