There are several key qualities that every entrepreneur should possess in order to increase their chances of success. These qualities include:

1. Passion and Determination: Entrepreneurs should have a deep passion for their business idea and be determined to see it through, even in the face of challenges. This passion and determination will drive them to work hard and persevere, even when things get tough. For example, Elon Musk, the CEO of Tesla and SpaceX, has shown unwavering determination in pursuing his vision of sustainable energy and space exploration, despite numerous setbacks and obstacles.

2. Creativity and Innovation: Entrepreneurs should possess the ability to think creatively and come up with innovative solutions to problems. This allows them to differentiate themselves from competitors and create unique value propositions. Steve Jobs, the co-founder of Apple, was known for his creativity and ability to think outside the box, which led to groundbreaking products like the iPhone and iPad.

3. Risk-taking and Resilience: Entrepreneurs should be comfortable with taking calculated risks and have the resilience to bounce back from failures. Starting a business inherently involves uncertainty and risk, and entrepreneurs must be willing to take chances in order to achieve success. Richard Branson, the founder of Virgin Group, has taken numerous risks throughout his career, including launching new ventures in industries where he had no prior experience, such as Virgin Galactic.

4. Strong Leadership Skills: Entrepreneurs need to be effective leaders who can inspire and motivate their teams. They should be able to communicate their vision clearly, delegate tasks, and make tough decisions when necessary. Jeff Bezos, the founder of Amazon, is known for his strong leadership skills and ability to build a company culture focused on customer obsession and long-term thinking.

5. Adaptability and Flexibility: Entrepreneurs should be adaptable and flexible, as the business landscape is constantly changing. They should be able to pivot their strategies and adapt to new market conditions or technological advancements. A prime example is Reed Hastings, the co-founder and CEO of Netflix, who successfully transformed the company from a DVD rental service to a streaming giant, recognizing the shift in consumer behavior.

6. Financial and Business Acumen: Entrepreneurs should have a good understanding of financial and business concepts. They should be able to manage their finances effectively, make sound financial decisions, and have a solid understanding of their market and industry. Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, is renowned for his financial acumen and ability to identify undervalued companies.

In conclusion, while there are many qualities that can contribute to entrepreneurial success, passion, determination, creativity, risk-taking, resilience, leadership skills, adaptability, flexibility, and financial acumen are essential. These qualities, when combined with hard work and a strong work ethic, can significantly increase an entrepreneur's chances of building a successful business.