Major things a business need to succeed.

[CALVINDOL]

An individual may hastily say that a particular business need to only be established in the right location and also in the midst of the right available audience in order to become successful. Although the location and the market size of a business totally determines its successfulness but yet that is not the most paramount and important thing the business actually need to become successful. First and foremost let us be clarified that there are so many things that a particular business owner need to put into proper consideration and some of this thing to be put into proper consideration are considered to be the main factors leading to his business successful is and prosperity. Most paramountly, a business need to sell and also to render the right quality goods and services to its customers and clients. A business you know that may be situated in an area with high population and also maybe situated in an area with huge market size for a products but yet when the business in particular does not sell and render the right quality goods and services such a business can never attain it's vision of becoming prosperous and successful.

Secondly a business must have good managerial practices and activities. Bookkeeping, accounting, and transactions recordings, are no doubt some of the responsibilities in which a particular business managerial activity must effectively carry out.
When a business fails to have a good effective managerial practice, the business is assured to suffer a whole lot of negative repercussions and consequences.

 

[Kennysplash]

A strong business plan is crucial for any new business. It helps you stay on track as you grow your company. writing a business plan helps you prioritize tasks and decide what to work on first. Plus, it lets you communicate with potential customers and investors. Working out the details is important since it will determine the success or failure of your venture.
When writing a business plan, consider what makes yours unique. Your plan should highlight what makes your business different and unique- this ensures that customers will be attracted to your product or service instead of another one.

It's also important to decide on the name of your company before writing your business plan.
Do some research about your business idea to find out if it's even feasible. Many ideas are prototyped via online projects before being commercially viable. Consider whether there's a market for what you're proposing.
These points should help prospective business people.

 

[Shaf]

It is good to have experience in any field before you venture into it as a way to make money. This also applies a lot to doing business. I have worked for a while with other people who do business and this has enabled me to learn a lot.

If I were to advise someone who is to start a business and wants to be successful, I would say to get the experience first of it is possible. Nothing beats that in the long run.

Next is to have a plan, written and detailed. You don't want to leave anything to chance. You want to know the steps you have to take, what happens at each stage, where you may need extra funds or if you have to outsource things. If you need others to do a certain task, find out about how much it costs and how long.

Plan for inconveniences and how to solve them. Discuss the plan with others, and then put it into work immediately. This is one thing that causes a business to have extra expenses without generating revenue in return, procrastination.

 

[Richee84]

As you have rightly said above that there are so many factors to make a business successful. To me I think business start not just from the commencement of that business but from the idea stage. From the idea stage, an entrepreneur try to build the business and make it successful in future.

Once an entrepreneur has a business idea, he or she must carry out the market feasibility study in order to see may their product or services is a viable one. Entrepreneur must be ready to solve a particular problem for the people he or she intended to provide goods and services for.
After the market feasibility study, the next for the entrepreneur to do is to come up with a good business plan for his or her intended business. The business plan will serve as a map for the business to follow when it commence it operations. The business plan will highlight how the operations of the business should be, the type of management needed for it success, highlight of the business target market, the mission and vision objective of the business, the goals and objectives of the business, the record of the financial inflow and outflow of the business and so on.

 

[Augusta]

Businesses need to be cater for in different areas to be able to be successful just like what was expected this is why it is always of importance for a business owner to do a research of the business that's one want to go into because they are always different things involved and until you get the right you may never be able to make a success of the business .

Starting from the capital a business that needs capital needs to be sourced for so that the capital needed will be available to carry the business alone. Another good thing that the business need is manpower work will not be done on its own even when machines are involved they need good operators so you need to employ skilled manpower then you have to produce quality products customers are more likely to by products of high quality than its quantity.

 

[TOZZIBLINKZ]

More than ever a business needs to be situated or to be located in an environment suitable and capable for it to reach its amount of expected audience. Also a business need reasonable amount of sufficient capital, so as to be able to financially facilitate its operations which possibly include distributing and also producing goods and services and possibly making them ready for customers and clients to buy and to patronize. Other important factor that a business need to succeed include having a qualified and experienced manager who is able to manage the business affairs as well as predict expected business performances from old performances of the business.

The business manager is definitely the backbone of the business and when the business manager is not qualified, the business begins to crumble and to fail. In most business organisations the business manager is necessarily the owner of the business, however it is expected for the business owner and manager to be a qualified individual.