Years of consulting with both successful and unsuccessful entrepreneurs have impressed upon me that there are certain characteristics which are necessary, if not sufficient conditions for success. Talent, wealth, and intelligence are not among those conditions, though they can help.
The number one characteristic is tenacity. They are inevitably tenacious; relentless, even. Number two, they make decisions quickly and don't look back, always moving forward. I won't pay lip service to the vague notion of "quality" as if it floats independently above these others, that quality is the sine qua non of business success. Sadly quality per se is neither necessary nor sufficient for mere economic sustainability; that's another discussion.
Making decisions, however, is the essence, the very kernel of the manager/owner/entrepreneur's role: clarity in pursuit of a mistake, quickly recognized, is better than interminable ambiguity on the "right path." Too many businesses have failed doing exactly the right thing, but doing it badly or without commitment.
What comprises the decisive act, the art of discerning? Most importantly it is saying "no." Saying yes, or worse, passivity and not saying "no" is likely to cause wasted energy and time. Of course affirmatives are necessary to move forward, but for most small businesses, and entrepreneurs especially, saying "yes" too often or failing to say "no" results in too many possibilities, too many divided attentions, too many (paradoxically) lost opportunities.
Small business entrepreneurs, makers, farmers, chefs... they thrive on the very notion of possibility. Possibility, options, new ideas ... that will never be the problem for this type of business owner. Saying "no" to a possibility feels akin to infanticide, an idea killed before it's had a chance to develop. To make decisions with this kind of compassionate ruthlessness, one must balance inspiration and restraint.
For those who find "no-ing" difficult, what then forms the basis of the necessary but quick negative decision, this compassionate restraint? Know your limits. Know exactly the non-negotiable limit of how far you're willing to go, what exactly you will accept losing, how exactly you will respond. I use the word limit advisedly; know the extents beyond which you will not go, irrespective of any other contextual factor.
Entering a negotiation knowing the least you will accept is empowering: you know what you can give up, yet still be content. Facing an ethical dilemma becomes much less stressful when you know with clarity what is permissible, at what point you would choose to cease working rather than work against your values. Risking resources, when you know exactly the extent of resources you will commit, makes the difference between thrill and horror in new ventures.
Knowing when and why to say "no," possibility abounds, and your reach will not often exceed your grasp.