Overconfidence is seen as a drawback for the average human because most don’t want to take big risks with their lives and prefer security and low risk living.
Entrepreneurs are unique humans prone to high risk taking and actually frequently need to have overconfidence to maintain motivation in reaching their lofty goals.
About 9 out of 10 startups do fail even if you are overconfident and the difference in the ones that fail and succeed is frequently a result of too few skills, knowledge, preparation, and emotional or human intelligence.
Emotional or human intelligence means surrounding yourself with competent trustworthy humans who can help you in your business so that you don’t have to devote too much attention to minutiae and areas where you don’t have that much expertise. You have to be a good leader who can motivate trustworthy competent workers and have to be very competent in your chosen profession with business knowledge and a flair for promotion.
Learn more about overconfidence in this link to a very good article by Geoffrey James:
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