The Most Important Characteristic in an Entrepreneur

At least according to the legendary VC investor Arthur Rock who financed Intel, Apple and Fairchild Semiconductor (Creative Capital):

Intellectual honesty. Rock knew that a new business would face many challenges and that in order to succeed entrepreneurs needed to be honest about the state of their business. Or as Rock rhetorically asked: “Do they see things the way they are, and not they way they want them to be?”

I'd humbly add that this doesn't seem to be a bad hiring criteria for managers either.