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How to Make Money in Business

In my career as an accountant I’ve noticed the same 3 elements of all successful business operations.

I wrote this article as my first post to this website, honestly, this is horrible.  But I was new at this and excited to write something.  So I want you to read the replacement article written exactly two years later and 200 articles later.  This article:  Three Primary Characteristics of Successful Businesses replaces this post.   The three primary characteristics are:

  • First is a high threshold of knowledge associated with that operation. In effect, this reduces or eliminates the competition.
  • Two – perseverance by the owner. This could be years of steadfast commitment or not giving up in face of barriers.
  • Finally – well capitalized; this is not necessarily financial, often it is a time requirement or utilizing business associates. 
This website is dedicated to providing the necessary information to generate the marginal value of success in business and life. Act on Knowledge.
 

If you have any comments or questions, e-mail me at dave (insert the usual ‘at’ symbol) businessecon.org.  I would love to hear from you. If interested in my services as an accountant/consultant; click on My Services in the footer of this article.

 

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About David J Hoare (414 Articles)
I spent 12 Years as a Certified Public Accountant, Over 20 Years of Practice in Accounting and Consulting, Controller in Management of Closely Held Operations, Masters of Science in Accounting, Prepared over 1,000 Business Tax Returns and Hundreds of Individual Returns

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