I'm going to echo what you are already getting as a response...Passion. As Steve Jobs said "We believe people with PASSION can change the world for the better..."
The absolute #1 is Guts. (S)He has must dare to stay with his ideas, and above guts to act, even making mistakes. Just like the old saying No Guts no..........
While I think passion is very important. As a coach, I have seen many people with passion who have not persisted long enough to make a go of it. I believe persistance is number 1.
All the posts prior to mine are very good comments! .......Perseverance is key ..... Many things will not go the way you expect..... Focus on being able to "know what you don't know" so you can access the knowledge and experience you don't have to help you make the ongoing adjustments in strategy and execution required throughout your business building journey.
Tenacity. You must keep going when everyone else has stopped for a second breath or given up the race!
In the highly competitive world of start ups, less than 10% of entrepreneurs are able to achieve success. It is not that the remaining 90% are less hardworking. Those who succeed in running a start up are merely more resilient, very good motivators and are open to new ideas.
While all the entrepreneurs are self-motivated, the ones who achieve success are able motivate their workers and business partners as well. Perhaps, the single biggest quality that characterizes the successful entrepreneurs is their ability to bounce back after a setback. They take every failure and defeat in their stride and convert it into a learning curve rather than allow it to dampen their zeal. Successful entrepreneurs are always looking for new ideas, are quick to learn from anyone – even a junior - and they have the ability to apply these ideas to their business.
I would agree that passion is Number One.
I would suggest that a clear understanding and appreciation of the value of strong marketing is a close second — because after you build the better mousetrap you need to tell your market and get them turned on enough to buy it.
I would say... Passion. Once you drive your business decisions with openness & necessary humbleness to acknowledge that it´s time to build by learning, then it will be passion that keeps you going towards your goals.
Tough question! I am sure you will receive a lot of interesting answers. The idea has to make sense. Passion to achieve success of your vision (of an idea, product or service).
Organizational skills are critical and the ability to sell, convince others, of your vision, and ability to achieve success.
My two cents:
#1 is the ability to motivate people. There are lots of ways to do this, but it is key.
#2 is perseverance. Nearly every start-up gets caught in a slow painful path at some point. To maintain the course while critically evaluating it is essential to get to the other side.