From Maine Today: What makes an entrepreneur? Drive. What makes a successful entrepreneur? Drive plus planning.
Recognizing and jumping on a business opportunity is a key trait of the entrepreneur, said Valerie Lamont, director of the Center for Entrepreneurship and Small Business at the University of Southern Maine. But having a handle on marketing, business goals, cash flow and other business basics is the key to staying in business.
“Most businesses go under because they don’t have the basic business skills to sustain the business,” said Lamont. “It’s one thing to launch, it’s another to sustain.”