1. Hard work, drive, and dedication: small business owners must be committed to succeeding and willing to spend the time and effort to make it happen.
2. Market demand for the products or services being provided: Careful analysis of market conditions can help small business owners assess the probable reception of their products.
3. Managerial competence: Successful owners may acquire competence through training or experience or by drawing on the expertise of others.
4. Luck: After Alan Mckim started Clean Harbors, an environment cleanup firm in New England, he struggled to keep his business afloat and was running low on capital.
Reasons for success:
1. Hard work, drive, and dedication: small business owners must be committed to succeeding and willing to spend the time and effort to make it happen.
2. Market demand for the products or services being provided: Careful analysis of market conditions can help small business owners assess the probable reception of their products.
3. Managerial competence: Successful owners may acquire competence through training or experience or by drawing on the expertise of others.
4. Luck: After Alan Mckim started Clean Harbors, an environment cleanup firm in New England, he struggled to keep his business afloat and was running low on capital.
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