Entrepreneurs wear many hats because they usually can't afford to hire a cadre of employees to handle all the tasks needed to run a small business.
The most important hat? "Sales and marketing," says Racheal Cook, founder of The Yogipreneur, a business consultancy in Richmond, Va. "And you have to be comfortable asking for money."
Cynthia Nevels, a Texas-based business consultant, agrees: "Going into business and being successful is more than being the best or most powerful programmer or marketing genius at your corporate job. It means you have to arm yourself with information and management skills," Nevels says.