"Number one," Kutarna says, "successful entrepreneurs have an unshakable belief in themselves and in their idea. Number two, they have drive. And number three, they bounce back. No matter what goes wrong, they get up and try again."

Statistics gathered by Western Economic Diversification Canada show that 60 percent of all small businesses fail within the first 18 months.

It needn't be so, says Todd Margolis, who manages the Venture program at the British Columbia Institute of Technology (BCIT). Venture is an intensive, 12-week program that allows would-be entrepreneurs to research and analyze their ideas. With some business planning, market research and computer modeling, Venturepreneurs have turned around the statistic, enjoying a success rate of more than 60 percent after two years.

"People come to this program with an idea; they leave with a business," Margolis says, adding that if you're not clear on the difference between a good idea and a good business, you're not ready.

PROFILE OF A YOUNG ENTREPRENEUR

Standing behind the counter at the Elgin Street Pita Pit, Ottawa entrepreneur Cam Crouchman doesn't look the part. The very word "entrepreneur" seems to suggest business suits and fast deals, while Cam's specialty is bean sprouts and fast meals.

But then you get him talking, and he starts saying things like, "It's not how much money you make that matters, it's how much you spend," and you realize, this guy's all business.

What's it like to own your own business?
"It's nice to work for yourself."

Do you work long hours?
"For the first three months, I worked 90 to 100 hours a week. But most of the year I only work 60 to 65."

Any advice for people thinking about starting a business?
Cam hesitates. "I don't have the perfect formula," he says. "But I'd say be cautious and take a good long look at any venture before you do it. And then watch your costs and your spending habits."

"And one more thing," he adds. "Don't let your work define you. What you do is just what you do. It's who you are that counts."

TODD MARGOLIS SAYS THERE ARE NINE TRAPS FOR A NEW
ENTREPRENEUR TO WATCH OUT FOR: