How do you measure success? Hint: It’s more than just money

Too many people measure success in terms of the number of fancy cars they have, the size of their homes or the destination of their last exotic trip. All these badges of success are nice and probably more meaningful to those who have not yet achieved the monetary capabilities to enjoy a successful, albeit material, way of life.

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But there is much more to true success than simple trinkets, toys and travel
Everyone from the shopkeeper to the Fortune 500 CEO must do business with all types of people. Some are truly exceptional and nice to boot. The majority are decent with good intentions.
There is, however, a certain minority that should be avoided like the plague. I’m not referring to those who are dishonest or immoral, since anyone with a modicum of experience has learned that it is just too costly and painful to deal with unscrupulous players.
I’m talking about another category of people — the insincere or time wasters, who might actually pay their bills but dealing with them is exhausting. Others have questionable business methods or behavior, and while their actions may not be illegal, their tactics should be. Next is the group consisting of those who you just don’t like or trust and would prefer not to be associated with, either in business or personally.
Herein lies the conundrum. Is it better to tell those who you don’t enjoy because of their personality, style or methods, “thanks, but no thanks,” and permanently walk away from an association? This is a tough decision for most companies, especially smaller companies and startups. The question becomes: Can you “afford” to cut the cord with certain paying customers even though you would rather have a root canal than have a conversation with them?
For business people, the decision can be made based on analyzing whether the time, effort and displeasure of dealing with them overshadows the return on investment.
In most cases, the answer becomes obvious once a basic balance sheet is prepared reflecting the assets and liabilities of the relationship. The bottom line frequently reveals it would be more productive to cultivate a replacement customer with sustainability than to deal with the trials and tribulations of those who turn everything into a three-act drama, usually with an unhappy ending.
Among everyone’s most valuable assets are time, energy and reputation, which are measured many times by the company we keep. These assets cannot be squandered. As the old adage states: What comes around goes around. This phrase has a positive connotation in relationships where the more you like someone the more you trust them, and the more you trust someone the more you like them.

The overriding question is: What is the value of doing business with or having a personal relationship with only the people who you like and trust? The answer: Priceless.

Michael Feuer founded OfficeMax and in 16-years, as CEO, grew the retailer to sales of billion in 1,000 stores worldwide.
Today, as founder/CEO of Max-Ventures, his firm invests in and consults for retail businesses.
Serving on a number of boards, Michael is a frequent national speaker, and author of the business books “The Benevolent Dictator” and his newest book ”Tips from the Top.” His long running nationally syndicated Smart Business magazine column has received more than 10 awards for excellence.