Which Factors determine the Success of a Business? The key to success involves: Having a plan is the first necessity for success. Once a direction is settled upon, it is important to develop clarity about where the business is going. Perseverance is possibly the most important of success factors. Employers should have the perseverance to see through these difficulties for the business to survive. Understanding that success or failure is not permanent, learn from the failures and keep working hard towards your goal. Developing a well-functioning team is fundamental to a successful business. Understanding how to motivate and challenge staff while understanding them as people and working with their strengths is an important skill to develop. Motivation, need to be able to maintain that drive over a long period. A clear vision of what success is, the vision must be clearly understood by everyone to achieve the best for a business. Maximize resources available. All the workers should have a clear understanding of the time, money, and resources of their respective sectors.

Abhijith S

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