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By service business, we mean a business that provides a service to a customer and not a product. The third characteristic of the successful entrepreneur is tenacity despite failure. Let’s face it, many entrepreneurs are usually trying something new and the failure rates can be high. For many people, the process of fine tuning their business to see what works and what doesn’t work means that there will also be small failures along the way. The litmus test for entrepreneurs is their ability to fight through the setbacks and failures and keep chugging along with the experimentation it takes sometimes to find the success they are looking for. It is important because it shows the degree … Read the rest