The personality, which is taken to comprise the traits, characteristics, and aptitude of the individual, is also a supportive but not necessarily ruling factor in performance. It is important that a person be persistent, innovative, friendly, committed, and tolerant of ambiguity. But these are not compulsory features for successful performance. To some extent these may be changed gradually as the entrepreneur learns from the experiences gained while engaged in the process. As he encounters new obstacles, solves new problems and overcomes unexpected events, he may learn to adjust personality factors, to become more patient or relaxed, for example. The same effect is seen in adjustments to skill levels, through experience, in the area of managerial expertise. There was at one time a widespread understanding that to be a successful entrepreneur one would need to experience at least one failure that served as a lesson and improved abilities. BUT hopefully the availability of good business schools and the opportunity to acquire managerial principles and experience through education has diminished this need, if in fact it ever ever was a meaningful wisdom. Still and all, the individual continues to learn and add to skill levels, administrative abilities and so on.