How Do You Measure Success in Your Online Business?
Since the world of online business is a relatively new one, and it often attracts people who are bootstrapping it, (starting out on a small budget) there are several ways in which to track progress and measure success that do not exist for traditional businesses. We’re going to look at some of the metrics that you might consider when gauging the progress you are making in you business. Success is a relative term and it looks different to different people. If you have set specific goals for your business and you have met or exceeded those goals, then you are a success even if you’ve not made a million, or driving an Italian sports car.
For an online business there are three basic measures of how well you are doing, which will vary depending upon the purpose of your site, and the goals you have set. They include:
- Conversions/sales
- Traffic
- Opt-ins
But there are additional metrics that can apply to your online business that will be important in determining whether you are getting a return on the effort, energy and finances that you have invested in your enterprise:
- Search engine rank
You have worked hard to build a website and a following, right? Your search engine rankings give you a good idea about how well you are doing on that front. You can feel proud of yourself if you’ve managed to develop a blog with an enviable page rank, so don’t discount that as a measure of your online business success.
- Engagement
Do you get a decent number of comments on your blog? Do your visitors share your content on social media sites? Do you have a growing Facebook, Twitter and LinkedIn presence? Do your tweets get retweeted? Do you get likes and shares on Facebook? Are you in the circles of the influential players in your industry on Google+? All of these are measures of how engaged your audience is with you and you with them. If you are creating a sense of community around your brand, having real conversations with your audience, then engagement is high and that is good.
- Partnerships
Do you have a rolodex of joint venture partners that you can call and do projects with? Are you part of an active, committed Mastermind group? Creating mutually beneficial partnerships is a vital skill in business. When you are growing your business having the right partners is almost if not more important than having a lot of customers.
- Personal satisfaction
Of course you are the only one who can say how successfully you have achieved this metric, but if you enjoy the work you are doing, if you are proud of your business and the products or services that you offer then you should get a great deal of personal satisfaction from your business. If you left a corporate job to pursue your own online business you want to make sure that you’re not just creating another job that you will grow bored with and hate. Your level of passion for your work will go a long way towards motivating you to be successful.
Make sure you are setting goals and doing a weekly assessment of your progress toward achieving those goals. No matter how you measure your success make sure that you congratulate yourself when you achieve the goals you have set. That alone makes you a success.
For more tips and strategies for building and growing an online business, visit http://mcreasite.com/blog today where you will discover how to use Internet Marketing principles to find online business success.


10. May, 2012 
