3. Risks and Liabilities All entrepreneurs, whether they admit it or not, are obsessed with failure. It’s impossible not to think about all the ways your venture might fail and the myriad consequences, personal as well as professional, that might follow. Of course, part of the art of entrepreneurship is to assess the risks rationally, filter out those that are endurable (like embarrassment) from the ones that are more serious (like fraud or a faulty product), and maintain confidence in the face of these realities.6
