Most people who have ever been employed by someone else have entertained thoughts of starting and owning their own business. They may see successful entrepreneurs and business owners living the ‘good life’ and wonder, “Why can’t that be me?” The potential rewards of business ownership are many, but so are the challenges. Entrepreneurship is not for everyone, and is definitely not for the faint of heart.

An intense desire to succeed is not enough to ensure success, and there is no such thing as a fail-safe business concept. Even so, aspiring entrepreneurs who possess these five characteristics increase their chances of achieving long-term success.