I often get asked this question and I have to say it’s not an easy one to answer. Sure we can look at a bank account balance but if that is the only mechanism we have to measure an entrepreneur’s success it would be a sad world indeed. As Henry Ford said “a business that makes nothing but money is a poor business”.
If I had to pick one defining characteristic that separates success and failure it would have to be passion. Those entrepreneurs who are passionate about their businesses will not accept half measures they sincerely want to be the best at what they do and this has a profound affect on all that they do.
They are passionate regarding their products and services, they are passionate about their customers, their staff and everything they do. This passion enables them to embrace change and face the everyday challenges that all business owners face.
Sure they encounter set backs but they don’t get caught up in the negatives, preferring instead to move forward, learning from their mistakes and refining the way they do things. They are passionate enough to share their triumphs and tragedies in a philosophical way and they will help other people to succeed wherever they can.
Passionate entrepreneurs have a spring in their step and a sparkle in their eyes that rubs off on all of those around them in the most profound way. And having worked with many thousands of business owners over the years, I have no doubt that passion equals profit. The big bonus though is that those entrepreneurs who are driven by their energy and love of what they do, don’t really consider it work at all.