“You can call a company successful if has grown larger than its founders,” said Uptime’s CEO Eero Tohver in last week’s episode of the Creditcast podcast.
Eero noted that the measure of success is different for different people: for some people, it is represented by fast growth, for others constant profits, and for some people by the fact that the company has managed to overcome various hurdles. In the end, however, every founder should make sure that whatever they are building turns into something bigger than themselves – the founder should be outshined by the success and scope of the business itself.
In the episode, Eero also highlighted the importance of learning from one’s mistakes and figuring out ways to turn any misfortunes into something positive. For example, he highlighted the time when Uptime was unsuccessful in expanding into the Finnish market, but thanks to the lessons learned there, Uptime has been able to thrive in Poland, Norway, Denmark, and Switzerland.
The show’s other guest, partner of Ernst & Young Estonia, Ranno Tingas, noted that when measuring the success of any company, one also needs to look at the wider context: if a company is trusted as a partner by others, then one could say that this is a measure of success.