Contributing Factors in a Successful Business

Discussion in 'Growing and Managing a Business' started by amal, May 6, 2013.

  1. amal

    amal
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    What do you think are they major contributing factors of a successful business.
     
  2. AnushaJain

    AnushaJain
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    Hii amal:) i have been to dubai in 2011.it is very beautiful,i simply loved dubai.
    For business factors of you have to persue in dubai then the best is shipping ,petrol and tourism.
    You can mainly focus ryt now on shipping and tourism because petrol resources are at the verge of end in upcoming 5yrs.
    For such type of business you need to know the supply and demand of a particular product in a city before shipping.
    For tourism you need to know the best spots in less tariffs which the people can afford.
    Along with that you can open restraunts serving good veg foods.
    I felt this thing that there should be a reasonable veg restraunt which serves a good indian food or should say desi food:)i missed food over there.
    So my friend this was my thought.choice is yours.
     
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  3. Rocky

    Rocky
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    There are multiple factors that contribute towards making any business successful.
    Starting from the product or service to its pricing and distribution.
    Each thing has its own importance and these collectively make or break a business.
    However, one most important thing to remember for any business would be customer's satisfaction.
    One should always try to give more than what the customer expects of the business.
     
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  4. williamjames732

    williamjames732
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    There are lots of factors that make any business successful!! But Business marketing is the most important factor. In my eyes successful business is directly proportional to the number of peoples or customers attached to it!! Online reputation also matter!!
     
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  5. jeff123

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    Major contributing factors for Successful Business are -
    1. Proper Market Analysis
    2. Planning
    3. Focus
    4. Time Management
    5. Customer Satisfaction
    6. Updations
    7. Research
    8. Finance
    9. Employee Satisfaction
    10. Proper Execution
     
  6. scottbaird

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    For successful business, time and management is very important. To run any business perfectly, firstly you have to research about the scope of the business, current scenario of the business, requirement of the business and many other things. Then prepare a plan according to all research factors and then implement the plan in estimates time and cost.
     
  7. Biz

    Biz
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    I would think having a good product is more important than marketing, and comes first. Without it even if you could attract many customers through marketing, the customers would not stay or repeat; and your reputation would suffer.
     
  8. iggypop

    iggypop
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    I think the single most important factor in a successful business is the ability to Evolve, in any business you will face challenges from competitors the businesses that succeed are able to analyze the changes and adept to survive and stay a float.
     
  9. kimmy burgess

    kimmy burgess
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    Every people dream for a successful business some of them succeed and some fails. All together the major aspects of the business that contributes are:
    • Making a business plan,
    • Analyzing the competition
    • Understanding the risks and rewards,
    • Being prepared for making sacrifices for the business,
    • Being creative,
    • Getting finance,
    • Keeping records,
    • Locations of business,
    • Regular promotions for your business,
    • Be consistent.
     
  10. marcus47

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    For success full business,the single most important factor is how you can stable in crises. In my thinking continuity is the major key of success in any types of field.
     
  11. amwarner

    amwarner
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    All of the answers that I've read here so far are correct ... however, I believe the single most contributing factor for a successful business is the person themselves. You can't "teach" motivation and ambition yet everything else everybody mentioned, can be taught. Again, I'm not saying that what everybody else said is wrong, I'm just saying that you need to consider that the most important contributing factor to a successful business is the person.
     
  12. Fergal

    Fergal
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    Do you think that motivational books and seminars can help?
     
  13. amwarner

    amwarner
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    They can help to a certain degree ... what I'm talking about are people who have that type of personality that they don't easily get deterred or lose hope when things don't go their way in the beginning ... building a business takes work ... alot of work and some people, potential entrepreneurs, may not have the motivation to pursue on when things look bleak.
     
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  14. Ronei Daselva

    Ronei Daselva
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    Hmm
    There are various ways to achieve success in a business
    i think to nice and humble to your employee
    clearify your needs to your staff.
    recheck all the needs.
     
  15. Fergal

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    Thanks for the clarification amwarner, I agree with you and it's an area I've been personally working to improve in myself.
     
  16. thebusinessdude

    thebusinessdude
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    Well said. The drive is a must. Feasibility, research, finance, planning... will be challenged at somepoint in majority of business cases. The drive, will, and vision are what sets you apart.
     

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