Small businesses are considered the mainstay of countries around the world. In many European countries, for example, small business has been considered crucial to the success and prosperity of the country overall. Most people start a small business in hopes of realizing ownership, independent profits, and personal success. Small businesses can be extremely successful if planned correctly. Studies suggest that several small businesses, however, close or fail within the first few years of operation. This failure suggests that the majority of small business owners may not yet have realized the crucial success factors necessary for the successful implementation of a small business. 90% of all small business failures can be traced to poor management, lack of planning and undercapitalization. this is why starting and managing a business requires motivation, desire and talent. It also takes research and planning. success in small businesses starts with strong and correct opening moves. Don't rely on customer loyalty, customers go where the best prices are, keep an eye on the competition and service. Take time each week or month to develop new methods, services or products. another key component is customer service, if you don't serve them they will go somewhere else. Businesses should only have enough workers to perform essential operational functions. Hire employees who are well trained and capable of delivering results. Additionally, employees should be happy and keep them motivated. Remember that being good at just one thing doesn't mean it's enough for the company to succeed. The owner should be well versed in different things like hiring, accounting, marketing, public relations, etc. And, even if you're starting out... mid-paper... in your comfort zone, it might be best to find something that more closely reflects your abilities. Ten years of retail experience offers a much better chance of success than an opportunity based on telemarketing skills.7. View the event horizon: In the near future, how likely is it that your business will be replaced by technology, hindered by government regulations, or made obsolete by social changes? Do a quick SWOT analysis to see how your small business opportunity will survive. It is unrealistic to start a music store during the peak of digital piracy.8. Use the people factor: Many business opportunities will require a motivated and skilled workforce. Make sure you are able to meet this equation or it will be the one critical success factor that can make or break you. Remember, good people are hard to find. Think about how you will earn and keep them. "