Thousands of people dream of having their own business, being a successful entrepreneur and wonder what makes a business successful. But what in reality makes successful?

Persistence is the key

One of the most successful inventors, Thomas Edison, said that “I have not failed. I’ve just found 10,000 ways that won’t work.”

His success story was based on his persistence with his experiments. When he was young he learned a very important business objective and that was to go out and explore. At an early age Edison obtained the exclusive right to sell newspapers on the road and with the aid of four assistants, he set in type and printed the Grand Trunk Herald, which he sold with his other papers. This was the start of his entrepreneurial ventures which led him to found 14 companies, including General Electric, which is still one of the largest publicly traded companies in the world.

Nolan Bushnell, entrepreneur and cofounder of Atari, Inc. emphasised that “The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.”

Even during his successes he never stopped investing in new businesses founding two other successful companies.

The critical ingredients to make a business successful

Try to ponder on the above examples, you can come to conclusions that the critical ingredients of the new successful business are:

1.) Passion

Business may be set on profit but the core of your business should be something you love.

2.) Perseverance

Passion counts a lot in businesses because it also builds your determination in achieving your goal.

3.) Action

Business is a big and competitive world, what will matter is that you give it a go and see how your business will impact your market. Don’t wait till tomorrow.

If you have noticed, there is no magic in the above key rules as they are very simple and natural however crucial in any successful venture.