What determines the success of a business

[Activator230822]

There are some factors that determines the operations of a successful business. Firstly is the location of the business. A business must be put in a very strategic place where it can be easily accessed by it's customers, suppliers and other business associates. The place of the business must have access to the basic utilities such as electricity, water, internet availability, source of infrastructure, security services among other services.
The location of the business also determines the success of the business in the sense that a pharmacy store for instance can be placed next to a hospital or clinic facilities.

 

[Kennysplash]

Successful businesses are those that are able to adapt to the changing market and customer demands.
The success of a business is determined by how well it satisfies the needs of its customers.
A successful business is one that can change with the times, learn from its mistakes and grow with the changing needs of their customers.
The success of a business is determined by the goals set by the founders and how they set out to achieve them.

For example, if the founder wants to make an impact in their industry, then they need to be focused on building a product or service that will have an impact on their customers.
If the founder wants to make money, then they need to focus on revenue streams and making sure that they have a repeatable process for making money.

Some of the factors that determine the success of a business are:
-The company’s ability to solve problems.
-The company’s ability to innovate.
-The company’s ability to make a profit.
-The company’s ability to be flexible and adaptable.
-The company’s ability to change with the times.