Thesis statement: This research explores the factors that contribute to the success of a new business. It will act as a guide for the new entrepreneurs to have a beforehand knowledge about the market. Successful businesses are all about understanding the market better.
An innovative idea
a.The purpose or idea of the business should be a solution to a problem maximum people are facing. For example, darkness was a problem to people and so light bulb invented by Thomas Alva Edison came as a solution.
b. some popular saying:
Hence, looking for problems and then their solutions can be the right way to get a unique business idea.
A great team:
Qualities like leadership, discipline, punctuality, decision making etc. is what a businessman should look for while hiring their teammates.
A good marketing strategy can be the key to success. Attractive advertisement and in a right way will build up interest in people.
Thinking about the product you where last attracted to and then why were you attracted can help.
But then no one likes going to a place where they are not treated well. Therefore, customer service should not be neglected.
Hence, these three are the important factors that contribute to the success of a new business.
Factors are supported by quotes of some great business to make it more appealing.
Knowing the market and acting according to it with a team of some really talented people is the key to getting success in a business.