Why You Should Acknowledge Business Milestones:
1. It’s an Opportunity to Boost Employee Morale
When your business meets a target or reaches a major milestone, it’s vital that you celebrate it with your employees. Remember, without them, these achievements would likely be impossible. If you don't pay attention to big moments, it will be a detriment to your company culture.
Here are a few suggestions of how you can show your appreciation to your employees following an accomplishment:
- Host a Party– Did your company reach the 10-year mark? Or perhaps you exceeded your sales goal for the year? Whatever the accomplishment was, host a party to celebrate! Employees will be excited about celebrating their hard work as a team.
- Go on a Retreat – Plan a fun weekend trip in which your staff can kick back. In addition, this could be a great opportunity for employee bonding!
- Give Them a Day Off – Did your employees work hard to make your recent triumph possible? If so, they deserve some relaxation! Consider giving them an extra vacation day, so that they can decompress before heading back to work.
2. You Can Show Customers Your Proven Track Record
When you make a groundbreaking achievement, make sure to share it with existing and potential customers. This success will prove to them that your business is an industry-leader that can be trusted. Below, you’ll find a few ways that you can publicize your business’s announcement
and make it a part of your marketing strategy:
- Publish a Press Release: Write a press release that explains the milestone that your company met and how it benefits your customers.
- Post on Social Media: Inform your social media followers about your latest achievement. Consider including an eye-catching image as well.
- Send an Email: Email your customer base to tell them about your big news and share what’s next for your business.
- Post Flyers in Your Business Location: Make sure that in-store customers are aware of your milestone by posting printed flyers in and around your business location.
- Update Your Website: If you have an "About Us" page on your website, you might want to add information about how you achieved this goal.
3. You Can Take a Well-Deserved Break
Now that you’ve achieved your goal, take some well-deserved downtime! Whether it’s a vacation or a long weekend, give yourself a few days to unwind, and hand over management responsibilities to a partner or trusted employee. Just remember, if they've been working long hours to reach this milestone as well, make sure they get a break at some point, too.
Chances are, it took a lot of time and effort to reach your recent milestone. In the process, you might have had to sacrifice time with your family or personal hobbies. Now, you can treat yourself to some personal time before setting your next goal!
4. It Will Allow You to Reflect on Success and Plan for the Future
Once your business achieves something, you should reflect on the steps it took to get there. By doing this, you can consider ways that your business can improve, and highlight the steps or changes that let to your success. To start, ask yourself these questions:
- What sacrifices did you make to ensure that you reached this milestone?
- How can you continue this momentum long term?
- After reaching this milestone, will your business model change?
- What do you wish you had done differently during this process?
- What changes did you make to your marketing and sales processes to achieve your goals?
- Have you reviewed your business plan and determined what your next goal will be?
These are just a few prompts to get you started. By thinking critically about the process leading up to your milestone, you can ensure that you can create more milestones and ultimately grow your business.
Acknowledge Your Business’s Success
When your business reaches a landmark goal, it’s important to revel in the moment with your valued employees, spread the news to your customers, reward yourself, and consider what’s next. By doing this, you can continue to have things to celebrate!
Editor’s Note: This post was updated for accuracy and comprehensiveness in January 2019.