Several key factors can determine the success of an entrepreneurial venture:
1. Innovation: Introducing new products or services that meet market needs. 2. Market Research: Understanding the target market and consumer behavior. 3. Business Plan: Having a detailed and realistic plan that outlines goals, strategies, and financial projections. 4. Adaptability: Being able to pivot and adapt to changing market conditions. 5. Networking: Building a strong network of contacts and advisors.