Factors that determine the success rate of a business.

[TOZZIBLINKZ]

The dream and idea of every business owner towards his or her business is for the business to be successful but a business can only be successful if some considerable factors are being put into proper consideration possibly at the initial stage on which the business is being established . First of all having a good business plan is actually one of the best thing to first of all consider before establishing your business because if your business plan is of an unreasonable and unnecessary features possibilities are your business may not last the taste of time as expected or planned .

Another factor that determine the success rate of a business is the owner's ability . This is actually very true when a business owner has the requisite authority and also the requisite knowledge to manage and control a business such a business has the potential to be successful . A business owner must understand that to establish a business is way more different than to facilitate and manage it that is why a business owner must be very creative so as to pass business risk , trials , challenges , and problems when they show up and a business owner must understand that some business problems , trials , and risks are totally inevitable but could be harnessed .

 

[CALVINDOL]

It is obviously seen and noticed that every business want be successful and prosperous but to be very sincere about business successfulness and prosperity , it actually totally depends on the ability of the business to satisfy the numerous wants and needs of his customers and clients . When a business has the ability and the capability to satisfy its numerous wants and needs of its various clients and customers search business is actually on the part of successfulness and prosperity . Another factor that determine the viability of a business to prosper and to the successful totally depends on the quality of its customer service .

The customer service of a particular business absolutely plays a very important role on how profitable such business will turn out to be if a business has poor customer service that is it doesn't have the ability to make his customers and client comfortable patronizing him or her so the business is due to the part of failure but if the business have effective and conducive customer service for its customers and clients such a business has the ability and the capability to make more business profit or another was has the ability and the capability to succeed .

 

[Augusta]

They are a lot of things that needs to be put in place so that a business can be successful, the thing is that nothing just on its own happened it might have been trigger bu a human.This is applicable here you need to put some catalyst in place to kick the business in to a good direction. The factor to consider are


Capital: The success rate of a business can be determined to via the amountof capital invested into the business. if you put in lesser capital than needed, then the business would not go as needed and the success rate of it might just drop. Having adequate money to find a business I see key

Level of seriousness: Some people would know the success rate of a business through the seriousness shown by a business operator. You can't be unserious with things that concern a business and expect it to prosper or stand the test of time it wouldn't work. This isn't a magical thing as you need to work on your self and business to get the success you crave for.

Generally, it is good to plan ahead so that at the time you get to the carrying out the plans you should have achieved the desire as stated.

 

[btaliat]

Henry Ford, the owner of Ford cars once said, whether we believe that we can do it or not, we are both right. This is to say the success of every business always start from the believe that it is possible. Business owner must have the mindset of winning. There should be self conviction that the business will be successful.

Another thing that determines success of any business organisation is the capital. One thing is to have the right and even winning mindset, the other is to have the ability to pursue the dream. All businesses depend on capital. When we don't have capital, there is no way we will be successful in whatever that we lay our hands on.

Why competition may serve as a catalyst to help some businesses to thrive, it may make some busineses to wither away. An emerging business owner that situate his business where there are many business competitions may not see the end of the day. The stronger the competition, the more we are likely to lose our business.


Another thing that can determine the business success is the location. The easier the customers can have access to our products, the more we are likely to succeed

 

[blessingc]

To have a successful business there are certain things one needs to consider and put in place. Before starting up a business it is very much important to have a good written business plan to guide you as a road map in times where you seems to be losing track of your goals, and to aid investors understand what your business is about and how they can help you develop it.

Another thing a business owner needs to put into consideration is employing staffs who are qualified and know what your business is about. Also encourage them to perform their task rightly, pay the when they are due, and make them feel comfortable by asking their opinions when you need to and having interactions with them.

Market your goods and services by advertising it both on the internet and offline, make people in know what you do and convince them with your advert that your product is real and qualitative, they will definitely come for it. Give out bonuses to customers to encourage them to come and also invite family and friends to pertronize your business.

One of the things you must know before starting the business is put it up in a good location.​

 

[moonchild]

I've started and failed at many businesses and I've learnt my lessons effectively, now as I brace up to start up another business I've learnt a lot.

The one thing I've learnt is nobody really care about how you come up with an idea or what you went through to build the all or whatever, what people need is something that makes them feel special and solve their needs that is all.

Before I was trying to build thing and wish people Will use it, I then quickly realizes that I'm failing and my idea did not turn out the way I wanted it.

I realized that all what I've been doing is copying other people's systems and business ideas, I wasn't thinking for myself and I'm not building to solve problem at all.

Secondly, you should learn to detach your emotions from your business because often times you'll start business that will not work because of certain things but if you learn to detach your emotions you'll find it very easy to move on than to stick with it when it's obviously failing.

These two are some of the profound lessons I've learned in business and I hope you've learn one or two.

 

[Axis]

There are many factors which can determine the success rate of a business. When talking about success rate it means how a business can prosper, grow and develop some factors which can determine the success rates of a business is how the government also support businesses. And how can they support businesses by providing the necessary amenities needed for production in the business. Necessity is like water supply, good roads, electricity. When this provision is available there will be a tendency that a business will prosper because they will not be making expenses for this social amenities because it is already available. And also the manner in which they treat their customers will determine the success rate of a business if a business treat their customer base honestly and also tyrannical a discount discouraged consumers from patronizing such businesses. And when there is an availability of consumers to buy goods and services from a particular business such business will find it hard to circulate money in the business and it can sometimes lead to the termination of such business.