#BizChats: How to stay afloat as an first-time entrepreneur

Mashable dove into the good, bad, and down-right unknown of entrepreneurship and what it takes to make a splash in a sea of competitors.

Storified by Mashable· Wed, May 04 2016 19:13:25





The fear of the unknown is usually what holds most individuals back, but we wanted to rectify the misconceptions that surround entrepreneurship and show others that taking big risks can most certainly lead to big rewards.



@mashbusiness and several entrepreneurs participated in a Everyone has what it takes to be an entrepreneur, but only a handful of people take that leap of faith to turn their business dreams a reality. In a world where we have access to terabytes of information at the tips of our fingers on top of invaluable life lessons from our personal and professional relationships, it's a wonder why more people aren't willing to give entrepreneurship a try.The fear of the unknown is usually what holds most individuals back, but we wanted to rectify the misconceptions that surround entrepreneurship and show others that taking big risks can most certainly lead to big rewards.and several entrepreneurs participated in a #BizChats Twitter chat to discuss how to thrive as an entrepreneur building their first business.

Welcome to #BizChats! Today we’re discussing how to rise to the top as an entrepreneur. Please introduce yourselves!Mashable Business

A warm welcome to our entrepreneurs: @IAMGerardAdams, @kellyalovell, @ramonray, & @Shama! #BizChatsMashable Business

#BizChats tip: Be sure to number your answers according to the question you're answering. (ie., Q1.—> A1., Q2. —> A2., Q3. —> A3.)Mashable Business

#BizChats tip #2: Don’t forget to include #BizChats at the end of all your answers to be a part of the conversation! :)Mashable Business

Question 1:

Q1. What characteristics do entrepreneurs need to possess to survive? #BizChatsMashable Business

A1: #Entrepreneurs need #grit in order to survive the demands of late nights, rejection & idea implementation. #BizChats #Business #StartupKelly Lovell

Loyalty, integrity, passion, boldness #BizChats https://t.co/jXj1GOR9HKMelo -

A1: they need to be driven and not easily discouraged. They need to know how to fail better than anyone else and adjust according #BizChatsElevate Me Global

A1: #Entrepreneurs need #focus #resiliency and #consistency for success. #BizChatsShama Hyder

@mashbusiness A1. Organization. Commitment. Vision. #bizchatsJennifer Baker

@mashbusiness A1. A budget, business plan, flexibility, dedication, goals & milestones, and mentoring. #BizChatsButterfly to Bee

@mashbusiness A1. Passionate, determined, unwavering. #BizChatsTracey Edouard

Knowing how pick yourself up when you fail is crucial for #entrepreneurs. It's part of the journey. #BizChats https://t.co/JeYcY3ByvXKelly Lovell

@mashbusiness A1. Determination and patience. Success isn't something that happens overnight.Netta

@mashbusiness A1. They also must be able to listen to others. Sometimes your personal ideas may not be the best nor most efficient #bizchatsNetta

Grit and determination are fine qualities but the ability to not bullshit yourself is