It’s a simple question

If you ask 10 people – What is the single most important component of a successful business? – you’ll get 10 different answers. But which one is right?

Some say customer service or innovation. Others say product quality, perseverance, proper management or effective marketing.

I’ve long subscribed to the build-a-better-mousetrap theory, but it seems a great idea is only part of the equation today. And one person can’t carry the load; it takes a team of many talents.

I’m searching for an answer and welcome your thoughts.

D.D.

COMMENTS

  1. Greg Pace wrote:

    Did anyone mention a “team” that respects their leadership as the foundation for all the things listed in your blog

  2. Howard N. Rosenberg wrote:

    The single most important component of a successful business?

    Simple….. Clients with money they’re willing to spend on what you sell.

    Howard Rosenberg

  3. Jeff Duncan wrote:

    The single most important aspect of a business to me is being profitable;>)

    I don’t claim to be able to build a better product than everyone else, or do it cheaper than anyone else, and I’m certainly not faster. I build a quality product for a fair price and all of the components you mention are important for me to succeed. Trying to find the most important individual one may be like trying to decide what the most important component of a car is? Is it the engine, the brakes, the steering wheel? I guess I don’t have an answer either except that you need them all!

    Jeff

  4. Chuck R wrote:

    Why would there need to be a single most important component? Give customers what they want, when they want it and at a price they expect to pay. That wraps it all up.

  5. Howard Van Valzah wrote:

    I ran a one man business for a dozen years with reasonable success because I hired a part time female to keep the books, count and bank the money, answer the phone, and buy everything we needed to run the business. I found it quite easy to find very talented women who did not want to work full time but delighted in making some money to help the family and get some spending money for herself. They worked during school hours and were home when their kids got home.

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