What are the key factors for starting a successful business?

What are the key factors for starting a successful business?

Set a business goal. ...
Understand Your Customer Needs. ...
Research your competition. ...
Attract and retain the right talent. ...
Be transparent with your team. ...
Become a decisive leader. ...
Learn to be patient. ...
Keep business documents.

A Plan. Having a plan is the first necessity for success. ...
Perseverance. ...
Understanding that success or failure is not permanent. ...
Shared belief and a team spirit. ...
Motivation. ...
Clear vision of what success is. ...
Maximise resources available. ...
Clear understanding of time, money and resources.