As we come to the end of the year, it’s a question many business owners probably believe they have found the answer to. But if you ask a number of different owners this question, you will almost always get a different answer. It seems clear then that there are various factors that affect whether or not your company is successful. But, we think we have the definitive list here. If you can tick off these boxes, you should find your business is thriving, heading into 2016.

Effective Marketing

Business marketing and promotion have changed in recent years. To market your business, you used to have to buy TV and radio ads. You’ll find a lot of business owners still do and to build up local customer support they are quite effective. That said, if you want to gain status on an international level, you do need marketing online. This is important because these days a lot of business work, at least partially online. That’s one of the reasons we have the seen the rise of the ecommerce company. What makes an effective marketing campaign? Essentially, you need to do everything you can to get the interest of customers or clients. To do this, the top business owners are running a connected marketing campaign. What this means is that they are not just running a blog. Their blog is connected to their Twitter and Facebook. As well as this their social accounts will lead followers to download an app to explore their business. It’s all about utilizing the available tech.

Economically Efficient

Of course, it’s not just about whether you can get the interest for what you are selling. You also need to be selling it at the right price. To do this, you have to keep business costs low. A big part of this is making sure that your company, business or factory is running efficiently. We can look at an industrial plant as an example here.

In a plant, you might be dealing with large amounts of material flowage issues. If your material doesn’t flow properly, it will affect how smoothly your factory runs. So, you will need to invest in a solution. But you must also make sure that solution is eco-friendly to save on costs. Not all machinery solutions are going to be cost effective. Some companies, while popular, aren’t eco-friendly. Airsweep is a popular manufacturer, but other business offer more energy efficient solutions to this issue. They do this by giving control options to manufacturers allowing them to choose the amount of power they use. This is just one example. But business owners that invest in these type of solutions will find success by maximising efficiency and reducing costs.

The Best Employees

Finally, the machinery that you use in your business does play a big part in its success. But, you also need to think about the employees working behind those machines. You need to make sure that the employees you hire are the best available. The careers market is packed full of workers desperate for jobs.  You just need to find the ones with the most skill. Remember, the best employees will have other options. You need to impress them just as much as they need to impress you.