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Successful entrepreneurs should not be aware of their strengths and weaknesses and be willing to strive toward goals.

True
False

1 Answer

4 votes

Final answer:

Successful entrepreneurs must be aware of their strengths and weaknesses and should be committed to achieving their goals, contrary to the statement provided. Acknowledging risks and showing personal investment attract investors who support startups.

Step-by-step explanation:

The statement that successful entrepreneurs should not be aware of their strengths and weaknesses and be willing to strive toward goals is false. In the realm of startup firms, there is a significant amount of risk involved, making it crucial for founders to have comprehensive knowledge of their own capabilities, as well as the potential challenges they may face. Founders showing that they are invested in their firm by putting their own money on the line is an indication of their commitment to their business goals. Such a move also tends to attract angel investors and venture capitalists, who look for confidence and a sound business plan but also do their due diligence to understand the entrepreneurs and offer relevant advice to mitigate the risks associated with imperfect information.

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