BizSugar.com › Management › Building Blocks for a Successful Business

The building blocks for a successful business are built around three factors: The Team, The Product and The Market. Each factor or a combination will most likely determine the success or failure of any individual business with a particular focus on the product to market fit. It is often said that a business fails for two reasons, lack of funding and lack of execution. Lack of execution (and indeed funding to acquire customers) can be the failure to get the product and market fit right. If the product to market strategy execution by the leadership team is not right, the cost to fund the business for lead generation, sales, marketing and product development increase to the point where value cannot be extracted.