The power of your grit to succeed and overcome failure is an important part of the growth mindset yet there is a thin line between overconfidence and lack thereof. Overconfidence gives you the ability to have a winner attitude, overcome failure, emotional and have psychological grit. The disadvantage could lead to an unappealing attitude like hubris phenomena, blaming others for our mistake and boastfulness.
On the other spectrum, lack of confidence can lead you to fear and avoid failure, lack of emotional grit and will power to succeed, self-blaming, and lack of initiative or active participation in a group activity. On the upside, you are more likely to be open to suggestion, direction and have a harmonious relationship with co-workers. These are two spectra that have their own advantages and disadvantages. I believe there is a middle way, that you can enjoy both advantages without the disadvantages. This is the way of self-compassion. As mention by Eric Baker in his book "barking up the wrong tree". Self-compassion is a Buddhist philosophy which teaches us that as human beings, we are prone to make mistakes and we should not fear these mistakes rather we should learn to forgive ourselves. Only thru forgiving ourselves, we are able to succeed and grow with fear of making and admitting to our mistake. I believe that entrepreneurs need to accept this philosophy as well. To overcoming tons of mistake and learning from them is the real essence of a good entrepreneur. There are a lot of unknowns but our ability to adapt and learn from each other should be the key to success. Only thru leaning and facing trials can we be truly successful.
As Robert Kiyosaki always mention " you have to fail fast but learn faster". Learn to forgive yourself and love others. Love and peace to all.