This paper focusses on the characteristics of entrepreneurs with successful and sustainable small businesses in Northeastern Thailand. It presents a new model and components. This study aims: (1) To investigate the characteristics of entrepreneurs with successful and sustainable business; (2) To study the factors influencing success and sustainability; and (3) To develop a model based on these factors. Both quantitative and qualitative methods are implemented. The former makes use of in-depth interviews in which the collected data are analysed using content analysis. The results show that the characteristics of entrepreneurs who enjoyed sustainable success in operating small businesses could be categorised under six dimensions: a business spirit, proactiveness, competitive advantage, sustainability, human capital and firm performance. These factors had 12 components, namely, business orientation, business intelligence, environmental learning, corporate social responsibility, flexibility, technological speed, production capability, innovativeness, opportunity competency, inter-functional coordination, work effort and firm performance. Quantitative data are gathered using a questionnaire measuring these 12 components. It was administered to 391 small business entrepreneurs. The data are analysed using the LISREL Programme to develop a model. The results of the model show a good fit with a chi-square value of 10.45, p value of 0.98, goodness-of-fit index (GFI) of 1.00, Tucker-Lewis index (TLI) of 1.00, comparative fit index (CFI) of 1.00, standard root mean square (SRMR) of 0.01 and a root mean-square error of approximation (RMSEA) less than 0.01. The findings are discussed. Based on the characteristics of entrepreneurs with successful and sustainable small businesses, the results are a valid measure within a Thai context.