You want to be your own boss? What are the key factors determining whether or not you will succeed? Test your business sense by ranking yourself against seven key qualities. If you can give yourself a tick for each of these then you deserve to take on business ownership with confidence. Many owners do not understand these qualities and regrettably join the 50% of businesses that fail in their first five years. Two seemingly identical businesses start. Why does one succeed and the other fail? What does it mean when an owner has good business sense? Some small businesses perform well ahead of their competitors. Their owners come from a wide range of educational backgrounds (some minimal), technical skills, ages and experience but the businesses stand out because these owners share seven qualities. Many potential owners are reluctant to step from wage earner to business owner because they perceive the challenges are overwhelming. They are intimidated by the jargon and complexities that may confront them. If they bring key personal qualities to the business then the path to success will not be as complicated as it may seem.