Most Important Elements of Successful Business

by J.Crawford on March 8, 2009

People start businesses for all sorts of reasons and under widely varying circumstances.  I’ve posted this small business video on venture capital. Its actually a video interview with CEO of the company Adify.  He makes and interesting assertion toward the end of the video that deals more with small business philosophy and entrepreneurial attitude.

Not to spoil the move, but choosing to start a business that your geneuinely interested in is proven to be a key to long term success.  What makes a small business successful can be approached from a hundred different angles based in logic and passion, but I thought this was a universal key to success in business.

So there you have it, a good standard to choosing the best business to start is to find and idea that captivates you, one you think about in an interested and engaged way.  What business ideas or business start ups failed because they were to contrived and not “from true interest” enough?

I often wonder why the 95% failure rate of small business is (1) acceptable and (2) a reality?

I mean it really seems absurd, maybe the stats a bunch of bunk, not sure, I know I could, and have, cited many leading magazines and small business publications that almost “tout” the failure rate.

When I look in my community and in the circle of those I know that have started small businesses, almost always they were connected and saw the business idea as an extention, a natural one no less, of themselves.

What are your thoughts?

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