Original Post: The 3 Real Reasons for Business Success
By Geoffrey James | November 13, 2012
There is simply nothing so important in business as understanding what other people are feeling and likely to feel in the future… Successful people and companies concentrate with crystal clarity on a single highly-desirable product or service that they can make or provide better than anyone else… Every good business idea has a brief period in time when it’s ripe for the plucking.
In this post, Geoffrey James offers us an accurate list of traits of successful businesses, although I do believe there are more than three reasons that businesses succeed. Like one commenter mentioned in the comment section, the Ability to Execute is important; I’d also add the Ability to Adapt. Sometimes you have a great idea, you are reaching a certain target customer on an emotional level, and you are well-timed for success — but then something changes, and you either have to adapt or close up shop. For instance, Kodak was very successful for many years (and probably due to the three reasons listed above), but they failed to adapt — and we all know what happened there.
What companies do you think have all three traits in the list, plus adaptability?