I am often asked, "What does it take to be a successful entrepreneur?"

It's a question that is difficult to answer because there are so many personality qualities an entrepreneur must have to be successful. With some of these qualities, you either have them, or you don't. However, that doesn't mean you can't develop them over time.

Here are some of the more essential qualities you need for entrepreneurial success.

Related: 10 Traits All Successful Entrepreneurs Share

If you already know me, then my approach to taking risks will not surprise you. After all, I have always subscribed to the mantra: Ready, Fire, Aim. I have no aversion to risk, which has been critical to my path as a successful serial entrepreneur. Small business owners must be willing to take risks if they want to achieve their goals.

At the same time, entrepreneurs need to make sure there is a very real potential for profit on the other side of that risk. Too often, small business owners will embrace a risk without carefully weighing the potential reward. They will focus all that energy on the front end. Then, they successfully navigate that risk, only to break even. I have always believed that only through profitability comes business sustainability.

The other caveat I would add is that you can't be reckless, taking unnecessary risks, because you derive some sort of adrenaline rush. That is a recipe for disaster. This can be a challenge for me. Because........

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