It is widely held that advertisement is crucial for a business to thrive. In my opinion, while advertisement is essential, it is not the only factor that conditions the success of a business.
It is interesting to note that having a quality executive board is a determining element of success. By this, I mean that a business whose executive board of members has an appropriate business model is destined to be successful. It must have a vision and mission that guide the company, and must be able to devise strategies in an attempt to achieve its goals. McDonald, for instance, is well-known for its global success owing to the resilience of its founder.
Another evident factor of success is strategic partnership with similar companies. Firms that share a common vision can merge up. By so doing, they are able to share ideas and marketing strategies that can have a multiplier effect and boost profits. To illustrate, companies such as DOVV and Santa Lucia, which are situated in Cameroon, have joined their assets and today generate over 10 billions of FCFA per year.
Admittedly, marketing and promotion are critical for success in business, because they allow products to be known, convince consumers to buy, and contribute to the patronization of clients. However, companies should not rely solely on them.
To conclude, publicizing goods is indispensable for a successful enterprise, but business owners should consider selecting appropriate board members and endeavor to collaborate with sister businesses with which they share a common objective.