What makes a new business succeed? Success needs more than just your best efforts, but other elements to blend in together and work in your favor. Here are 12 factors that are important in creating and building a successful start up business:
1. Have a long-term vision
2. Hire the best people – and manage them well.
3. Keep your focus.
4. Innovate; don’t duplicate.
5. Keep realistic expectations
6. Have a clear understanding of the market and your competition.
7. Run your business lean.
8. Get the right partners.
9. Develop a culture of success in your organization.
10. Conduct regular business and market review.
11. Learn, and keep on learning.
12. Prepare for changes.
– George Rodriguez, “How to Launch a Successful Startup,” PowerHomeBiz.com