1. Persistence. To me this is one of the key ingredients to success. You must be committed to the process of building your business and have the fire, hunger, and passion for creating something. Coming up with ideas is easy. However, making money from an idea is difficult. It usually takes several failures before you can become a successful entrepreneur. Stay motivated and keep thinking of what you are doing this for. Concentrate on what your goals are and where you will be in the future.