Ignorance has been defined as the lack of knowledge, information, or education about a particular subject matter. In its most basic form, ignorance means lacking in knowledge or in training. Being ignorant is not the same as being unintelligent or stupid; instead, it is being uninformed about or untrained something. Given the high risks involved in entrepreneurship, the high rates of startup failures, and the equally high rates of entrepreneurial entry, this paper submits that a certain dose of ignorance is required for one to engage in entrepreneurial venturing. Not knowing all the facts before launching a business (bliss of ignorance) may at least in part explain the high rates of new venture founding. The purpose of this paper is to illuminate the importance and the role of ignorance in business venturing.
Ignorance, Passion, Entrepreneurship, Education, and Structural Inertia.