Some people think that the only way to judge someone’s success in business is by the amount of money they make. Is this a true indicator of the success of a business and in what other ways could success in a business be measured?

Everyone wants to become successful in life and

business

. Nowadays, many people believe that money is the only parameter to measure

success

in

business

. I strongly disagree with

this

view and believe that the revenue generated cannot be the only indicator of the

success

of an industry or organization. There are multiple other factors which must be taken into consideration while

analyzing

consider in detail and subject to an analysis in order to discover essential features or meaning

analysing

the

success

of an industry. In

this

essay, I shall explain why money cannot be the only criterion of

success

and

also

mention some other indicators of

success

. Money is crucial for running a

business

and it plays a major role in improving the viability of a

business

.

However

, money alone cannot create a strong foundation for a

business

. The reputation of an industry or an organization among its consumers is more important than the

profit

.

Profit

may be the number one concern of short term

businesses but

Accept comma addition

businesses, but

for a

business

that is

supposed to

last

years or decades, goodwill is more important.

For example

, the valuation of the e-commerce website Flipkart, which was one of the highest loss making organizations in the previous financial year is more than that of many

profit

making companies.

That is

because Flipkart has a large customer base and

also

it is a name that customers trust.

In other words

, the net

profit

is not a measure of the market value or potential of a

business

.

By contrast

, factors

such

as a strong customer base, good reputation, quality products and loyal employees and customers are better indicators of the

success

of a company.

For example

, many companies price their products aggressively for grabbing

large market share

Suggestion

a large market share

. Despite

suffering loss

Accept comma addition

suffering, loss

, these companies have loyal customers and a high global rating. To conclude,

profit

cannot be the single deciding factor of the

success

of an organization. There

are

Suggestion

is

a plethora of other factors for judging the

success

of a

business

and they include the customer base and reputation of the company.