I realize that its a superlative title to a very subjective matter, but I have honestly felt for years that the talented and intelligent (and sometimes not even intelligent) people I have met that are successful all share one common characteristic. Theyre all able to get past the single biggest obstacle that prevents most people from being successful entrepreneurs: self-doubt.

I cant count how many times Ive been speaking with a friend about business and theyll open up about whatever it is theyve always wanted to do. More often that not, the topic of discussion turns to owning their own business and being self-employed. Yet when I ask the question, Why dont you do it then?, I get the same self-doubting answers that always go something like this:

1. Company X is already doing it - So what? Theres plenty of business to go around, and even if youre interested in a very saturated and competitive market, there are still many ways to stand out and align yourself with the rest of the industry. There are multiple leaders in plenty of business sectors, and joining the ranks just depends on how hard youre willing to work.

2. Itll never work/Ill never pull it off - Wow, nice effort. Youve already defeated yourself without even doing the research it takes to find out if a business venture is possible. If you start out with that attitude then youre right, youll never pull it off. How will you make it if you never even try?

3. Too much of a risk - As the old saying goes, without risk there can be no reward. Your mission is to take as much risk out of the equation as possible by planning, planning, and then planning some more. Have solid projections, do your homework, and if things dont go the way you expect them to, there are always options to minimize the financial burden of selling off a company. If you know what COULD happen ahead of time youll be much more prepared for any situation that DOES happen.

4. Not educated enough - OKso educate yourself. In my opinion its no longer necessary to have a college degree in order to be successful. Passion can outperform education anyday, and if youre truly passionate about what youre doing its definitely possible to educate yourself on just about any topic. While a college degree or similar training is a huge headstart to success, real world experience can be just as beneficial.

5. Worrying about what others think - So many times Ive heard people tell me they had a great idea for a business, shared it with (insert negative persons name here), and (insert negative persons name here) said it wouldnt work because (insert negative reason). Has this person ever conducted business in this industry? Then how do they know what will or wont happen? Its a good general practice to listen to the opinions of others in an attempt to gain wisdom, as long as you remember that theyre just that: OPINIONS. Make up your own mind and trust your instincts.

I am by no means saying I have followed through with every business idea Ive ever come up with. Some ideas really arent as good as you originally thought they would be after you do the research. But if you never even put the work into the initial phases of starting a business, youll never find out if you have what it takes to be a successful entrepreneur.