Products And Services Key Parameters

Earlier, I mentioned that companies become successful when they find a product or service that fits three key parameters.

  • First, it is a product or service that the company owners, founders, and executives passionately believe in.
  • Second, it is a product for which the company has the potential to be the best to be in the top 10 percent of the market.
  • And third, the product or service is profitable. If the company is successful in bringing it to market and selling it in sufficient quantity, the company will earn substantial profits.