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To become a successful entrepreneur you need good ideas, a little luck, money and lots of hard work. 90% of successful people fail, which means to gain something (profits, equity etc) you must first lose something (your initial investment). Phat-farm is a multimillionaire company whose owner Russell Simmons lost 10 million dollars in the first five years. A lot of experience and resources is not required but to become a successful entrepreneur you need to have passion and persistence. Turnin

Till now you have read some of the characteristics of entrepreneurship. "Practice makes perfect" is the motto about everything in life and especially if you are a business owner. Bookish knowledge can help you a lot to avoid mistakes but nothing beats the practical hands on experience of seeing what works for you. You have the right passion, the right business format and all the skills. But before making the leap of faith make sure you are ready in some other aspects as well. From starti