Entrepreneurs don’t fail because their business-plan arithmetic is wrong. They don’t fail because they try to sell a product that no one wants to buy. They fail for the same reason speaker Mark Chussil, expert in competitive strategy, failed in one of the businesses he launched: because it takes sober effort to think strategically, and entrepreneurs are not sober. They are giddy with the capitalist dream; they believe they can make it happen.
That sounds like garden-variety overconfidence. The bad news: it’s worse than that. The good news: you can do better. The great news: it’s free, and it doesn’t hurt.