Question:

The most important factor for business success

by  |  7 years, 1 month(s) ago

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What is the most important factor of family business, startup or any other business success?

We must also internalize the requirements for managing a company today are different from those of two decades ago, and time is running against. In large family businesses the founder has already entered the test of time, in some cases is tired of fighting and has no desire to do battle in the crisis.

For business to grow, It takes a very technical and overall bringing the right people, you know logistics, export, human resources people. Moreover, as claimed in Woody Allen film Match Point, luck is vital.

All the great successful businesses have had good fortune, and, of course, the Luck is not transmitted from one generation to another.

Undoubtedly, success in leading change depends on chance/luck, but you must also prepare for it and do everything in your power to win. If you do nothing, and leave without planning, odds are bad that things will work out. And that planning, is not a matter of here and now, but in years long. It's the only way to do it without stress or emergency, and thus minimize the chances of failure.

Best way to make sure you take your business to the next level is to prepare it, plan it right, have regular succession planning meetings but the most important factor of business success is Luck. Being in the right business at the right time, trumps everything else.

 Tags: business, Factor, success

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