What Makes A Turnkey Business Successful

A successful business drives profit—both financial income and psychic income – by finding fulfillment through the use of your true talents and abilities. Other steps to starting a business includd…

  • Passion – a successful business owner has a high level of passion for their business to the point that their business creates a sense of joy vs. doing tedious work. “Knowledge gets you into the game, passion always wins it.”
  • A Good Idea – The Boston Consulting Group, a management consulting firm, coined the concept of the “cash cow.” A “cash cow” business model is what you want to develop your turnkey business. It has these characteristics: 1)is in a growth-directed market, 2) has good profit margins, 3)does not have an excessive amount of competition
  • A Good Business Plan – this will contain your company’s U.S.P. (Unique Selling Proposition), new business development programs, financial data, a vision for growth, and many other integrated business variables
  • Execution – in order to win in your business you need to accomplish your pre-determined goals—without any excuses. Your goals need to be precise and measurable—for how can you manage that which you cannot measure? Many venture capitalists say the execution—the management—is often more important than the plan