Not everyone has what it takes to launch and run a prosperous business. Successful entrepreneurs typically possess a specific skill set and share common characteristics that allow them to bounce back from adversity and move forward. Starting a business is a risk, even for the most capable, but some people handle the inevitable problems that creep up in positive ways.

One of the most important aspects of starting and running a successful business is doing something that you love. Moshe Ohayon is a case in point. As a college student pursuing a degree in physics, he became a tutor and discovered he had a natural teaching ability. After college, he founded the Louisville Tutoring Agency, a thriving business that encompasses his love of teaching.

The ability to plan every aspect of a business is another key characteristic. Planning not only means writing a business plan, but also realizing that obstacles will stand in your way and developing scenarios ahead of time. Entrepreneurs who have taken the time to analyze and research every aspect of their business have the tools in place to think and act quickly as problems arise.

Wise money management is another essential trait of the successful business owner. Knowing where each and every penny goes, implementing money-saving measures and spending wisely are essential to start, build and grow a business.

Entrepreneurs who run lucrative businesses never lose sight of what’s really important. Knowing your customers and giving them more than they expect is the surest route to success.