Success factors are all of the different internal and external influences which can impact the potential success of a business.
If you’ve ever run a business, you’ll know that success is never guaranteed. Part of trying to attain your goal, though, is understanding what affects your chances of success. These are known as success factors and they can be both internal (such as the make-up of a team) and external (such as the current state of the market).
Success factors are sometimes referred to as ‘success indicators’ or ‘success requirements’.