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The Top 10 Reasons Businesses Succeed


Only one of every 5 businesses makes it to its 5th year, and fewer still make it to 10 years. What do the successful businesses have in common?

1. The experience and skills of the top managers. Over half of business failures are directly related to managerial incompetence.

2. The energy, persistence and resourcefulness (the will to make the business succeed) of the top managers. Many business owners have failed or come close several times before their "instant" success. Don't give up.

3. A product that is at least a cut above the competition and service that doesn't get in the way of people buying. There must be a compelling reason to buy; the product is great, the people love to provide service, and the buying experience is easy and fun.

4. The ability to create a "buzz" around the product with aggressive and strategic marketing. Make scarce marketing resources count. Do as much homework about your customers and their choices as you can before investing your marketing dollars.

5. Deal-making skills to sell the product at the highest possible price given your market. It comes down to your customers' perception of the value of your product and sometimes the power of your personality.

6. The ability to keep developing new products to retain and build a customer base. Consider gradual product development based on improvements to the current product line and sold to the current customer base.

7. Deal-making skills to work with resource suppliers to keep costs low. Keeping costs lower than competitors' and continuing to look for cost reductions even when the business is profitable is key.

8. The maturity to treat employees, suppliers and partners fairly and respectfully. Trust and respect result in productivity increases in ways that may be difficult to see and quantify.

9. Superior location and/or promotion creating a connection between your product and where it can be obtained. Studies have shown it can take seeing your product or name seven times before a customer is ready to buy.

10. A steady source of business during both good economic times and downturns. Over the long term, develop a product mix that will include winners during good economic times and other winners when times are tough.

About The Author

Jan B. King is the former President & CEO of Merritt Publishing, a top 50 woman-owned and run business in Los Angeles and the author of Business Plans to Game Plans: A Practical System for Turning Strategies into Action (John Wiley & Sons, 2004). She has helped hundreds of businesses with her book and her ebooks, The Do-It-Yourself Business Plan Workbook, and The Do-It-Yourself Game Plan Workbook. See www.janbking.com for more information.

You have permission to publish this article electronically or in print, free of charge, as long as the byline is included. A courtesy copy of your publication would be appreciated.

[email protected]


Todays News by officejax free advertising and ad exchange solutionsMORE RESOURCES updated Thu. April / 22 / 2021
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15 GERD home remedies: Diet, herbs, posture, and more  Medical News Today

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5 Effective Home Remedies For Skin Tightening  NDTV Swirlster

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Neetu Kapoor shares easy home remedies for relieving anxiety, muscle and joint pain  The Indian Express

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Experts advise home remedies for skincare during pandemic  Times of India

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3 ways to drink ACV to boost your immune health  Times of India

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Hangover home remedies with Liz Earle | This Morning  ITV News

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Remove blackheads at home with 3 home remedies  Times of India

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Hip pain when sitting: Causes, treatment, and stretches  Medical News Today

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Summer Skincare: Home Remedies For Black Marks On Face  NDTV Swirlster

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It’s good timing for augmented reality  The Boston Globe

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Childhood asthma: Causes, outlook, and more  Medical News Today

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Foot Pain At Night: 8 Causes, Treatment & Prevention  Healthline

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3 Grandma approved home remedies to whiten yellow teeth  Times of India

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Natural facial at home for glowing skin this summer  The Sangai Express

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Coronavirus home remedies: Treatment options and when to seek help  Medical News Today

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Home Remedies and Lifestyle Changes to Help Your Back Pain  Health Essentials from Cleveland Clinic

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6 home remedies for asthma  Medical News Today

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5 of the best home remedies for chafing  Medical News Today

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Arthritis in the Neck Home Remedies  Verywell Health

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9 home remedies for burning feet  Medical News Today

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Easy home remedies to cure sore throat  The Indian Express

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Oily skin: Natural remedies to make at home  Medical News Today

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Can home remedies help my sciatica? - Harvard Health  Harvard Health

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10 home remedies for migraines and when to see a doctor  INSIDER

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Home remedies boom as India pandemic cases soar  Medical Xpress

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Home remedies for insomnia: 9 options  Medical News Today

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6 natural home remedies to get rid of nausea  INSIDER

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8 science-backed home remedies to soothe coughing naturally, according to doctors  INSIDER

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5 home remedies to treat styes naturally, according to eye doctors  INSIDER

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Castor oil and other home remedies for pesky skin tags  Seattle Times

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10 home remedies to get relief from cough  Times of India

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Eczema (Atopic Dermatitis) Home Treatment and Remedies  WebMD

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Home Remedies That Work  WebMD

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Grandma's Home Remedies – Dr. Ed Iannuccilli  GoLocalProv

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Home remedies boom as Covid-19 cases soar in India  Deccan Herald

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Simple and effective home remedies for constipation  Times of India

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The best home remedies for asthma, like breathing exercises and natural herbs  INSIDER

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6 home remedies to relieve headaches naturally  INSIDER

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Stomach ache? Here are some home remedies from a nutritionist  The Indian Express

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Witch Hazel for Sunburn and Other Natural Home Remedies  Healthline

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Sciatica pain treatment: Medical options, exercises, and home remedies  Medical News Today

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Don't Slip! Try These Home Remedies For Removing Ice  Spectrum News

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The 4 best home remedies for period cramps  INSIDER

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Air pollution: 5 easy home remedies to stop coughing  Times of India

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Bad Home Remedies for COVID-19  U.S. News & World Report

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How to Get Rid of Herpes? 13 Home Remedies to Treat Herpes Outbreak Naturally  Riverfront Times

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5 EFFECTIVE home remedies for dry cough  PINKVILLA

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Is There a Home Remedy for Pink Eye?  Verywell Health

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