It depends what you mean by the word "success". What are you? A record label, a recording artist, an artist manager?
I would say that should find yourself first or where you fit within the industry. It's also important to arm yourself with knowledge on how the music works while you work. Because you need to put what you read in action.
If you are an artist, you should record as much as possible and promote your music religiously. But promoting and marketing blindly doesn't help, you should know where your audience is. Its a case of working smart and not hard.
But having said, there is really no formula on how to be successful in the music industry. It's a cut-throat industry and risky for the labels, who are responsible for putting out the music.
If you are focused and determined to "make it" then success will be yours. There is a
south african music blog for aspiring artists and independent artists which cover topics related to the recording industry