Perseverance is very important not only in business but in every field one has to achieve great. Not everyone can make it in first go. But what separates winners, achievers from others(failures) is the Perseverance. Perseverance is undoubtedly an important aspect of successful entrepreneurship.
There are going to be Ups & Downs, challenges like competition, risks in every business. But as a entrepreneur, one should never lose hope no matter what challenges, circumstances come upon. On the other hand, challenges are also important because they only make you strong, attentive and wise which is very important for any entrepreneur. If there are no competitors in the market, no one will work hard to make their product/service better. Today's successful companies like Google, Microsoft, Amazon, Apple and so many, are the result of someone's Perseverance because they also did not make it in first try. They also faced a lot of challenges but eventually they could make it big just because of perseverance. So all this just comes to a very famous quote, " A Winner is no one but a Looser who tried one more time."