Becoming a successful entrepreneur is pretty much up there with winning the lottery in terms of likelihood of success. That means that we have to be nuts, or very bad at maths, to think it is a good idea.

Of course, in any group of entrepreneurs you will find some that are good and some that are learning, or to put it another way, some that are lucky and the rest of us.

But certain traits seem common to most entrepreneurs I have met.

Market research must be limited to asking a few friends and family if they would buy the product.

When the answer is yes it is merely confirmation of our genius plan. Those that say no should instantly be dismissed as nay-sayers and ignored. Another fundamental trait is to label the prospect who does not become a client an idiot.

High staff turnover is the fault of the individual, every single last one of them, not our interviewing techniques, initiation process or chaotic office environment.

Our suppliers are unreliable yet, when the situation is reversed, our clients are impatient and demanding. Money is, quite frankly, a mystery and everyone else's business seems to be more successful than ours. But if we can just get this one deal we are working on?

Interestingly there is hope. Most successful entrepreneurs have failed many times before they reach success. You would not be an authentic entrepreneur if it all went according to plan straight away.

The latest economic slowdown has of course spewed out thousands of new entrepreneurs into the system. "It is the best thing to ever happen to me," they say as they relish their new-found freedom. Cursory market research complete, they crash headlong into an industry they know nothing about with skills they have picked up watching Donald Trump on television.

As with life, just enough will survive - Darwinism at its finest. A combination of talent, luck and a crazy glint in their eye and they will end up on the cover of a business magazine. Inspired by their story, the insane and the mathematically challenged will quit their jobs to try and repeat the trick.

Callum Laing is the founder and owner of several businesses with a presence in six countries. In his spare time, he runs XL Thailand, part of the largest social entrepreneur network in the world.

This article was first published in The Nation on April 9, 2008.