If profit-seeking entrepreneurs are going to be successful. How will they succeed?

Answer: The entrepreneur needs a very good business idea and a good business plan to achieve it.

Explanation: For an entrepreneur to succeed in business, he needs to have a very good idea that would sell easily in the market.

After the entrepreneur has decided on the business to venture into, he needs to draw out a plan on how he intends to achieve the business idea, this plan would involve steps for capital generation, location of business, target customers etc.