People are overwhelmed when first starting out opening a new business, whether it be a law firm or any other type of business.  They’ve been told that they need to think about having a business plan, marketing plan, budget plan, employee hiring plan and so on.  But when you boil it down, there are only 2 traits that define a successful business owner – Drive and Courage.

With enough drive and determination you can learn all there is to know about how to build a business, how to market, how to manage employees and so on.  People with drive will read and continue to learn what they don’t know.  They don’t need an MBA degree in order to succeed because their drive will push them forward.

With courage a successful business owner will take that first fearful step in setting up shop, finding financing straight out of school or even financing on a shoestring  budget.  Courage will force them to admit their mistakes and take a different direction when things don’t turn out right.  Courage will push them forward when it all seems hopeless.

Drive and courage are two things no business school or MBA program can teach you.  Business school can teach you the nuts and bolts of being an entrepreneur but they cannot teach you the heart of becoming an entrepreneur.  How do you know if you can succeed at a new business venture?  Ask yourself if you have the drive and courage to achieve it.  If you do, every thing else is simply a derivative of those 2 traits.