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Importance of Celebrating Business Milestones

IMPORTANCE OF CELEBRATING BUSINESS MILESTONES
 October 6, 2020 |  Business Tips |  business growth, motivation

By David Stamper, NPI, Inc.'s President & CFO

Setting and reaching goals are a meaningful part of running a business. Whether they’re days, weeks or even years from now, it’s important to take some time to stop and reflect on your achievements. Although life and business can get hectic, don’t let your milestones simply fade into the background.

Why Should You Celebrate?
It doesn’t matter if you have a large celebration or a small get together, the key is to take time to acknowledge your progress. Patting yourself on the back might not seem like a valuable part of business management, but it provides you with proof that you’re growing as a company. Some business owners may be shy to draw attention to themselves, but you’re doing something that not many people can say they’ve done. So what kinds of things could you/should you celebrate, and what’s the best way to?

Business Anniversaries
One easy to remember item you can celebrate is your business’s opening day anniversary. No matter the market or industry that you’re in, it can be difficult to sustain success over a long period of time. You can start out by doing monthly anniversaries and then do yearly ones as time goes on. In addition to looking ahead and planning for the future, these dates are also a good time to reflect back on how far your business has come.

Revenue Goals
You can even celebrate monetary milestones as well. This could be anything from making your first $1 to your first $100,000. Again, it doesn’t matter how large or small the goal is for it to have meaning to you. Monetary achievements help give you and your employees a physical identifier as to the growth of your business.

Employee Anniversaries
Speaking of employees, if you have a handful or a large team, they should be recognized for their work too. Just like the length of time you have been in operation, celebrate an employee’s time with the company. Being able to keep a long-term position at one place is something that many employees take great pride in.

Employee Contributions
In addition to giving accolades for time spent with your business, employees should be recognized for completing major tasks. This could be giving a presentation to new clients, landing a major sale or anything else that you feel deserves attention. It will show your employee’s that you value them and the work that they do for you.

Giving Proper Recognition
After you’ve decided on the different accomplishments you want to highlight, you then need to figure out the proper ways to celebrate. Keep in mind the size of the event that you’re celebrating when planning things out. While it isn’t a major deal to go overboard for a smaller occasion, under acknowledgement can cause various problems. Maintaining good relations with your employees is important, and the wrong incentives can impact that.

Have Fun!
Knowing the importance of a goal can have an impact on how you view your company. You’ll feel more motivated as you continue setting and breaking new goals, and your business will keep flourishing. Don’t be afraid to take pride in what you and others have done to become a success!

 

Begin Your Business Today
If you’re interested in starting your own NPI franchise, you can request a free info packet at npifranchise.com.

 

About the Author
David Stamper, President & CFO
NPI Inc.'s President and Chief Financial Officer David Stamper holds a B.S. in Accounting and Mathematics from Buena Vista University and currently manages day-to-day business activities, performs the company’s accounting functions, coordinates software development and assists with long-term planning. In addition to his management duties, David also helps train and mentor new franchisees and provides business management support for current franchise owners.


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