In the fast-changing business world where newly created companies grow with the speed of light and others get pushed off from the entrepreneurial scene even faster than that, where great ideas turn into successful businesses through constant growth, and other great ideas fail because of poor execution plans, it is almost impossible to achieve your goals without regularly to monitor your progress. It is essential for entrepreneurs to revise the changes, which their companies are going through, by asking themselves the right questions in order to determine where their entrepreneurial path is leading them to.
Evaluate the present: Where am I now?
Entrepreneurs should honestly evaluate their progress and business development in order to have clear view over their startup’s advancement. Being able to measure your progress is essential and entrepreneurs should often ask themselves this question to create realistic image of their companies.
Long-term and short-term goals: Where am I on achieving my goals?
Constant evaluation of the goals that we set to ourselves will help everyone to keep track on their achievements and will work as a stepping stone to determining the next steps. Be ready to set new goals and aim to achieving them by creating milestones and clear deadlines.
Learn from the past: What did I do right? What did I do wrong?
Make sure that you evaluate often your past: not obsessing over it, simply evaluating it. Accept your mistakes and learn from them. Learn from your past decisions and actions and you will soon be making better judgments.
The main idea: Am I still true to my mission and vision?
In order to stay true to your vision and mission and never to mislay the main idea behind your business, you need to evaluate your progress firstly according to your own understanding of business and your personal perspective where your startup should be in the entrepreneurial ecosystem.
The importance of innovation: Do I still innovate?
Make sure that you follow the progress and development of your product and service in order to provide satisfaction to the constantly changing customers’ needs, taste and preferences.
Giving is everything: How do I help others?
Entrepreneurship is all about giving and mentoring, leading and advising others. Ask yourself often: Do I give as much as I receive? Make sure that there is a balance, because it is really important for the entrepreneurial ecosystem, especially when it is still young in the specific region, that everyone supports it.
Passion and motivation: Am I still passionate enough?
Passion is a driving power for entrepreneurs and they need to keep it alive by staying motivated and fascinated by their work and startup. Being motivated is essential part of the success of an entrepreneur and when the road gets rocky it is hard to stay on the right track. Spend regularly time on honest conversation with yourself about your passion for what you do. Don’t forget that without passion your business will hardly succeed and keep the motivation levels up.