What makes a business successful? How do you build a successful business even when you have limited capital and experience ? Well, I advice you read on.

1. The Right Mindset
The mindset is the foundation of every successful business and the reason is because your perception determines the way you do business. Your mindset determines your business mission, its vision, your business culture and your work ethics. Why did you start a business? What is your primary aim of building a business ? These are two important questions you must answer now because the answers will determine if you will succeed or fail.

2. The Right Business Idea
The next factor that makes a business successful is a great business idea. This is a no-brainer in the success secrets of every business because a great idea translates to a great product.
But your business idea does not have to be something very special for it to be successful. It can be either a new product or service or an opportunity that exists but need improvement. However, the most important success factor is that your idea must ultimately have demand. It must either solve a problem or satisfy a need; this in turn will create a market.

3. Capital
Some experts say that online businesses don’t need capital in order to last. The truth however is that capital is crucial to the success and survival of all types of business. But a critical point I want to emphasize is that capital is not the most important factor for building a successful business.

4. A Great Team
You can be a successful self employed entrepreneur or artisan but to be a successful business owner, you need a team. Now I am not talking about your regular staff or employees, I am talking about assembling a business team that provides strategic direction and execution of your plans.

5. Competence
Of all the business success factors listed here, competence is the most important. Why? The reason is because without competence, all other factors are null and void. Even with all the capital, ideas and customers in the world; if you are not competent enough to handle them, you will lose them in due time.

6. Customer Loyalty
The reason you are in business is to serve the customers and if your business cannot serve customers, then it is dead on arrival. But serving customers is not enough to ensure a business’ survival and eventual success. To succeed, you need to raise an army of loyal customers and to achieve such; you need to make them a specific promise and deliver on such promise.

In conclusion, I want to state with emphasis that if your business has all these factors; then there’s nothing really stopping you from reaching the top. However, you must note that attaining a status where you control these six factors is not an easy task. It’s a task that requires time and dedication.