drealbenard:
1) Production costs fall as more items are produced.

2) Businesses need good management to be successful.

3) Business is not financial science, it's about trading-buying and selling.

4) Businesses should adopt the philosophy of Kaizen: "Continuous improvement of everything by everyone.

5) Businesses should consider their environment, consider the needs of people, and remain adaptable to change.

6) Business is, and always has been, about the advancement of self and of society.

7) Without entrepreneurial spirit, a great idea might never be pursued.

Successful people are those who are not only willing to take risks, but are also able to manage risks.

9) Sometimes, an idea may look great on paper, but turn out to be uncommercial when put into practice.

10 ) Determining whether an idea has potential requires a study of the competition and the relevant market. Who is competing for customers time and money? Are these competitors selling directly competitive products or possible substitute? How are competitors perceived in the market? How big is the market?

11) To succeed, you need to do something different in order to stand out in the market.

12) Gaining an edge in business often depends on one of two things: being first into a new market niche, or being different from the competition.

13) Once your Company is established, the challenge shifts: the objective now is to maintain sales and grow in short - and long - term.

14) To survive long - term, you should be constantly be reinventing and adapting yourself in order to remain ahead of the competition.

15) The ecosystem in which a business operates is rarely, if ever, static. Corporations exist in these ecosystem as living organism that must adapt to survive.

16) As a business grows, the demands on it change.

17) In order to survive, your idea must be unique enough to define it's own niche, and the individual or group behind it must demonstrate entrepreneurial spirit.

18) Faith in the idea is essential.

19) The biggest reason for business failure is a lack of cash. While loan capital can help for a while, eventually a business must fund it's operations from revenue.

20) Beating the odds at startup is defined by the tenacity to take an idea to market, the ability to secure sufficient finance, and the business acumen to turn a good plan into a long-term, profitable enterprise.

Thanks for reading

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Zico777:

Brilliant points!