Post 6 months and she sold her business- reason? There was a lot of mental and emotional drain- 12 hours weekdays, she did not bother retaining business profits, and the location was probably not right to reach out to people without any marketing as she had over invested in the décor of her Day Care Centre and could not budget for it all.

Had she known what she was going to face, she may have been more prepared and could have lasted longer. Statistics show that more than 54% businesses fail due to poor planning and poor credit control. Other things among the million things involved in determining your entrepreneurial capabilities include:

1. Can you take initiative?

2. Are you a people person?

3. Are you a good judge of situations?

4. Are you organized enough to record and maintain performance?

5. Do you have the emotional and physical stamina to run a business?

6. Will your family be supportive?

7. Are you determined enough?

These 7 traits determine how well you would be able to manage through the rocky path ahead. Underestimating the difficulty of starting up and maintaining a business is one of the biggest issues businessmen face. However, success can be yours once your business take a stable motion- this can only happen if you are willing to work hard and be patient, and take all the steps you need to in order to stay ahead.

P.S. The coming article will elaborate on what makes a business successful over and above survival.