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.