Self-confidence is a key entrepreneurial attribute. You have to be confident your product is something the world word need and that you can deliver it to be better than your competition.
"You have to have a lot of self-confidence. Be willing to take a risk, but be conservative," says Jason Apfel, founder of FragranceNet. com, an e-commerce site for beauty products. Apfel didn't know anything about the beauty world when he started the company, but he believed he could create a solid website to sell such products. "I thought selling a commodity online at the most competitive price would work," he says. His company has outlasted well-funded competitors and sees $145 million in annual sales.