The four main factors that makes business to succeed or fail

If your business is failing it might be because you are having problems with one of this four main factors for business success or failure that i will be explaining in this content.

Over the years i have studied and done a lot of research on business, why some business ended up failing and why some became successful that is what has brought me to discovering this four main factors that makes business succeed and fail, without wasting much of our time let me get straight into the teachings for today.

The four main factors that makes business succeed and fail
Here are the The four main factors that makes business succeed and fail with a detailed explanation.

1. Location

Location is one of the powerful key for business success, most people don't understand that n matter how good your business is if you are in the wrong location you will always fail a thousand times, because nobody need your products or services, this factor called location is almost the same as wrong timing or no hungry market in business.
So if you want to succeed in business the first thing to do is to look for a good location that has people who are hungry for your products or services.
the two category of location

i. online location

When i say online location i mean you should leverage the internet use online platforms to make sales you can use platforms like Facebook, amazon, ebay or other social media platforms on the internet, you can use all this platforms to get your targeted audience.

ii. offline location

offline location means a physical location where if people need your products or services they can come to you, always make sure you are in a good and right location.
How to know a good location
knowing a good location is simple all you need to do is to check the problem of the people and also check what people in that location always like to buy and why do they like to buy what they are buying, if what they are buying and the problem they are have is not what you have or what you are solving then you are in the wrong location, also you need to check the financial status of the people so you can know the prices to put on your products or services because sometimes the people may need your products or services but the prices you put on your products or services are to high for them so they can not afford to purchase your products or services.

2. Resources

Resources are parts of the fundamental that every business need in other to thrive and become successfull In business if you don't have the resources for the business your business will automatically fail, the truth is that you need resources, resources like money, people and your products.
Getting Resources
Getting resources for your business might not be easy but here are some ways you can get resources 
Money

1. investors

meet investors to fund your business, before you meet investors you must have a good business plan so they can trust that they are investing in the right business, they are lot of investors out there you can also check online for investors if you are in the united states you can go to the y-combinator they are among the top investment company that will help your business grow.

2. Friends and family

you can also ask friends and family to help you with funds and other available resources they can help you with.

3. People

If you ask most great entrepreneurs what skills is the most important to learn first in business most of them will tell you to learn people skills, this skills is really very important in helping you to make a lot of sale in your business.
The truth is that without people they will be no business without people they will be no team work for business success, so you really need to have people skills so you can learn how to communicate with your customers and team effectively, always remember that your staffs, team and customers are all people if you communicate with them very well you will begin to see amazing results in your business.

4. Knowledge

Knowledge is one of the main factors that makes business succeed and fail if not the most powerful many people just fell like because other people are making money in business that means they to should start a business, and before you know it they go on to look for resources to start the business without knowledge and in no time you will find out that in no time their business fails not because they don't have the resources, the location or the people but their knowledge about business is totally zero, i have seen this happen to a lot of people.
Before you start a business go get knowledge on the business you are about to start, read books on business go for seminars and business lectures by doing this you will have business knowledge that will save you a life time of trial and errors.

Conclusion

So this is it Knowledge, People, Resources and Location this are the The four main factors that will make your business succeed or fail, having this factors in place is the starting point for every and any business success.