Factors Influencing Business Success

Every business actor wants his business to be successful. The success of a business can be seen from various aspects, such as performance finance or even image company.

The success of the business itself is greatly influenced by the way it is managed. Therefore, in achieving this success, business actors need to understand the factors that can affect business success, so that they can be implemented when managing a business.

Without knowing these factors, the business will be difficult to last long. Because success in business cannot be achieved instantly. In doing business there needs to be a strategy, adaptation as well as innovation that is thought to increase the selling power of the business.

5 Factors That Affect Business Success

The following are some of the factors that can be the key to business success, for business actors who want to develop their business.

1. Company Human Resources (HR)

In running a business, human resources are always needed to support business progress. Employees, employees, laborers or workers who are empowered are an important element in the management of business activities.

Although today many human jobs are taken over by machines or mechanical and automatic devices, in many cases, human labor is still needed. Humans still play an important role for business success

2. Company Physical Facilities

The company's physical facilities are important things that need to be considered, in order to support business activities such as production and operations. These facilities can be in the form of a place to do production, to a place where consumers look for goods or services from the business.

The company's physical facilities include:

• Business location, which is where the company carries out work activities.
• Buildings, can be in the form of buildings that are needed by businesses.
• Proper layout of production facilities.
• A comfortable work environment affects employee performance.

3. Business Capital

Business capital is one of the factors of production needed for the rotation of the business wheel. Business capital owned by business actors in running a business must be sufficient and well managed. However, in reality, business actors are still often faced with the problem of lack of capital.

Even so, now the opportunity for business actors to get out of this problem is getting wider. For example, with solutions for financial institutions such as banks or fintech companies that provide business loans for business actors.

4. Management (Processing Skills)

The management factor here means the activities of planning, organizing, mobilizing, coordinating, and supervising the overall available and necessary business factors. Expertise in carrying out these activities can support business success.

5. Company Environment

The corporate environment that influences business success can be grouped into two, namely the general environment (generalenvironment) and special environments (specific environment).

The general environment is a company environment that has an indirect effect on the company. Meanwhile, the special environment is an influential company environment and contributes directly to the development of the company in achieving its goals. For example:

• customer environment.
• Provider environment.
• Competitor environment.
• technology environment.
• Socio-political environment.

Thus a series of factors that affect business success. Hopefully it can be useful for business people in developing and advancing their business.