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.
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.