How We Measure Success in Hospitality
Measuring success in hospitality is different for everyone. You first have to define your own metrics for success.
Traditionally, success can be defined as a busy business, exponential profit, impressive numbers, and stellar reviews. While all of those are of the utmost importance, a holistic view of hospitality looks beyond that to the core of success, one that is measured not only by results, but also by personal fulfillment and the positive ripple effect that comes from running a values driven business.
A few questions to ask yourself when forming your personal definition of success are:
What is your metric for success?
In hospitality, metrics can be both qualitative and quantitative. One looks at surface-level results, while the other looks beyond the surface.
To determine your metrics, you may find that you first have to define your core values.
Our core values define our True North. When they are clear and genuine, they help shape our actions, thoughts, relationships, and the way we interact with others.
In doing this exercise, you may learn a lot about yourself.
Does monumental wealth alone define success?
Try using this framework and reflect on these questions as you explore what success means to you:
What matters most to me in life?
What makes me feel fulfilled and happy?
What are my top priorities?
What kind of person do I want to be?
What impact do I want to have on others?
How do I want to balance work, relationships, and personal well-being?
What goals truly reflect my values?
How will I know when I feel successful?
These questions provide a simple framework for creating a personal definition of success based on your own values and priorities.
For the consulting field in general, many define success by an ample list of client testimonials. As we are still in our developmental stage, with our business just reaching a year and a half old, I wanted to shine a light on what my definition of success is currently and how it has evolved since we started True North.
In the future, our definition of success at True North will continue to evolve as we gain more experience, build stronger partnerships, and create a greater impact within the businesses we serve.
The world pulls you in many different directions. One thing we have always held true to is staying rooted in an authentic sense of purpose and remaining true to our mission.
(Even if that means taking a slight hiatus from social media because we don't have good material. Hey, consulting is our forte, not marketing.)
Prioritizing what matters most. At the end of the day, being an entrepreneur requires a lot of thinking, learning, and growing. We always try to keep in mind that jobs may come and go, and money may too. But our relationships and family need to remain at the forefront of our hearts and minds.
If we were to build a bustling business while sacrificing what is best for the people we love, is that really success?
My current definition of success is navigating the development of this business while my children get to watch me strive to do something I love—with them right beside me.
Even if my goals aren't achieved at the end of the day, that alone is success.
Success is learning how to fail gracefully.
Not every post, blog, or interaction with someone is going to be magical. Learning to value the moments that are, while also learning to get back up after failure, is success.
And lastly (for now), success is different for everyone. The perfect client is not going to fall out of thin air. Knowing when to work, when to rest, and when to learn is incredibly important.
Sometimes, seasons of entrepreneurship aren't only about doing, they're also about growing. Growing in a way that is true to who you are and letting go of an idealized version of what this journey should look like.
At the end of the day, this is our one precious life. Knowing who you are, allowing that to flow into your business, and allowing it to have a positive ripple effect throughout the world around you may be the ultimate marker of success.
