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. 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.
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