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

The original essence of any business is systematic profit-making. Because of that, it is thought by many people that the true indicator of success is the size of the bank account.

However

, the truth is that it is not unequivocally since any performance metric will be changing over time.

Therefore

, it is not possible to draw conclusions about companies’ or individual entrepreneurs’ achievements based only on the amount of

money

. It is absolutely necessary to consider other key indicators

such

as brand, revenue sustainability and customer loyalty. First of all, when somebody talks about any business’s success by mentioning assets, they mainly mean fixed-time value, without taking into account its time-varying nature.

Consequently

,

such

an approach can be deceptive if the organization or individual entrepreneur is doing well only at a certain moment. As a great example, the Motorola

company

was producing push-button cell phones, and by earning large profits,

according to

the criterion, it was quite a prosperous

company

.

Nevertheless

, when touchscreen phones appeared on the global markets, Motorola became insolvent.

Furthermore

, the prosperity of any business should be evaluated not only by its current earnings but

also

by expected prospects.

This

can be done in several distinctive ways taking into consideration its founding date, number of loyal customers and future cashflows.

For example

, the Siemens

company

has been in existence for more than 150 years, and still, their products are in great demand. The

company

could be called eminent,

otherwise

, it would have been closed long ago. Correspondingly, it is possible to utilize metrics apart from the

money

for the prosperity of a

company

or an individual entrepreneur. In conclusion, the amount of

money

is not the exclusive measure of success as that metric indicates only a short period in time. Alternative indicators can be found,

such

as the lifetime of the

company

and the number of its loyal customers.

As a result

, the prosperity of a business can be measured by the amount of

money

coupled with

other indicators of its performance.