A new avenue in business, risk and benchmarks for success

I love online! I love the dynamics and possibilities of online business. This passion has been stimulated more than ever due to my fulltime involvement with KIKI and The Pretty Blog since my return from Europe (more about this in another post).

The one thing that I find more interesting than “online business” is business in general. I am extremely intrigued when ideas turn into reality and when resources (physical or immaterial) get combined or restructured to offer greater value to the user.

This intrigue has brought me to an interesting opportunity. Christine and myself have experienced some needs in the Photography community and believe there is a problem to solve. And that we have the solution! Not in the form of a website, web app or iPhone application, but rather in a physical product. That needs to be designed, engineered, prototyped, packaged, distributed etc.

Even though i have never worked in those fields, i am incredibly excited to explore and experience these facets of business! We are still in the starting phases of this adventure, so i cannot share much more details.

As exciting as it is, it is also incredibly daunting – online is easier, cheaper and more familiar. But those very reasons to make online the obvious choice to pursue is what is motivating me to step beyond the place where i feel comfortable. I guess there is something to be said for risk and adrenaline in business?

I think it is important to set a benchmark for success before you endeavor anything. Otherwise, how will you know weather what you are doing is worthwhile? Success to me has never been measured monetarily, but rather in experience, growth and impact. So before pursuing this new avenue in business, i would like to set a benchmark for success – i want to learn as much as possible, get familiar with an industry and process i have had very little exposure to and experience the thrill of seeing an idea become physical and making an impact on the lives of other people.

Have you set some benchmarks for success with the project, job or business you are busy with right now?

Here are some tips to help you define what success will look like for you:

1. Realize that success is personal and should not only be measured against others
2. Make sure you can monitor and measure the benchmark – saying you want to be the “best” is very hard to measure!
3. Be sure to have flexible benchmarks – as you pursue the project, your priorities and interests will change. And that is OK