Summary
- To measure business success, I use three key levels: Product Market Fit, Scale, and Global Scale.
- Product Market Fit means people love and rave about a company's products and services. If customers can't stop talking about a product, the business is on the right track.
- Scaling at a local or regional level means a business has many users in a specific area and is making money. This shows the business is doing well.
- Achieving Global Scale is the toughest milestone. When a company is recognized worldwide, like Apple or Nike, it's a sign that the business is exceptionally successful and likely worth billions of dollars.
Video
How To Take Action
I would suggest starting by getting feedback from your customers about your products and services. Listen to what they love and what they think could be better. This helps you know if you have Product Market Fit. A little survey or asking for reviews can be a simple and low-cost way to learn what your customers think.
Next, focus on reaching more people in your town or area. Tell your story! Share happy customer stories or offer small promotions to attract new buyers. This helps you scale locally and its a good step toward making more money without spending a lot.
For those ready to think big, start building your brand online. Post on social media about what makes your business special. Use platforms like Instagram or Facebook, which are free yet powerful, to connect with people everywhere. This creates the foundation for global recognition without spending millions.
Lastly, remember that doing something new can lead to great things. Exploring new ideas or trying small changes can make a big impact without spending lots of time or money. Staying curious and taking small steps often leads to great success.
Full Transcript
you measure business success across three levels the first is product Market fit if someone loves a company's products and services and raides about it and talks about it everywhere that means a company's on to something the second is through scale when a business has starting to get a lot of users within a specific geography they're doing well and they're making money and the third and this is the hardest level to achieve is scale on a global level when a company is global like apple Microsoft Google Tesla Visa Nike and people all over the world recognize them that means this business is worth billions of dollars
