No one ever said being an entrepreneur is easy. Creating your own business and career path is tough — and succeeding in this lifestyle seems to require an elusive mix of traits.

After all, most of the entrepreneurs I know are intelligent. They are hardworking and usually at the top of their given field. However, all too often I’ve watched these smart people go from thriving in the workplace to struggling as a business owner.

There are numerous reasons why some entrepreneurs make it big, while others flounder. Here are seven key reasons why some entrepreneurs fail to live up to their potential.

MORE: 7 Reasons Some Entrepreneurs Don’t Meet Their Potential.