How do you measure success?

There has been a lot of talk lately that puts into question the idea of business success and what it means. 

While we hear arguments about millionaires and billionaires, there are thousands of small businesses paralyzed by the uncertainty around the debt crisis, tax structure and healthcare issues that are up in the air as the politicians debate. It is those small businesses struggling to survive that I want to recognize as the "real economic heroes". 

I recalled a blog post on Jeff Cornwall's Entrepreneurial Mind blog that puts this in perspective. It was titled, "The Real Economic Hero" and he had a key quote on the role of traditional small businesses that is worth repeating,

"Those boring little entrepreneurs who toil away with only their own investment -- maybe with a little help from their family and friends -- is what really drives today's entrepreneurial economy. It is these small businesses that now generate about 50 percent of the U.S. economy and have created 77 percent of new jobs for the past 20 years."

So how do you measure success?

I like Dr. Cornwall's definition in his post: "Rather than measuring success in terms of mind-boggling returns to investors, the average entrepreneur measures success in terms of making a living for his/her family, by creating good jobs, by becoming able to contribute to building a better community."

This is the foundation on which the CPA profession was founded -- the public interest of business that ultimately required an independent and objective professional who would become the expert in the language of business.

It turns out that many of our members (Maryland Association of CPAs) are themselves small businesses and/or support small businesses. Almost half of our 10,000 members work in small CPA practices or directly for small businesses. In addition, they serve small businesses by helping them understand the economics and financial aspects to help them create profitable and sustainable organizations and protect their family's wealth. That is why we like to say, Maryland (and in fact the USA) counts on CPAs!

Making a living, creating jobs and building a better community are good definitions of success in my book. I want to take this time to celebrate small business and all of the CPAs who are small businesses and work in or serve small businesses.

Here's to all the successful businesses, and especially our unsung heroes in the small business community, you are the "Real Economic Heroes" and I wish you continued SUCCESS!