When someone comes up with an idea for a company, puts capital into it, and starts the company, he/she is participating in one of the most arrogant activities imaginable. Why?
Well, because believing that you (of all people) are smarter than competitive forces and your understanding of your chosen market is superior to other participants is, indeed, saying that YOU believe you and your ideas are simply better.
You’ll never know all the variables. If you are an entrepreneur, the rule to the game is to play the odds and play a lot. If you only have one venture, you deserve to fail if you do.
What am I saying?
Good entrepreneurs aren’t arrogant enough to not hedge their bets.