Specific Qualities That Make Your Business Successful

1897 WordsNov 20, 20158 Pages
2. Literature review. 2.1 Introduction This literature review will be focused on specific qualities that make your business successful. We will name both personal (entrepreneur’s) and company qualities that could help us to achieve our goals. This literature review is divided into 3 parts: Be in the Right Industry, Character (personal qualities) and Company qualities. We will introduce in details content of each of these parts. For this report we have chosen only relevant information and reliable sources. 2.2 Be in the Right Industry The first step to a successful business is a right choice of an industry. This is a start point for any entrepreneur before starting business itself. First of all, we should look on this choice in two ways: 1) do you see yourself as part of this industry, will it be interesting for you and do you see yourself successful in this industry, and 2) how successful is this industry nowadays. According to Mintigo President John Bara, “Successful companies tend to be geared towards rapidly-growing industries like software and Internet, computers, financial services, and healthcare. Twenty-four percent of the companies on the list (talking about the 5000 list of the fastest-growing companies according to Inc. magazine) in America are in business services, while 20 percent are in software and Internet.” (Rampton), but in the same time you should remember that it does not matter how successful industry is, if you do not see yourself as part this industry.

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