I had lunch on Tuesday with an entrepreneur who sold her business to a major plc last year.

On finding herself with more money than she'd ever imagined she started thinking how to invest it and rushed into making an angel investment she now regrets. She feels a bit daft for having done it, as with hindsight she didn't know anything about the market, the product or the founders.

I've actually seen quite a few successful entrepreneurs do exactly the same thing, so I reassured her she wasn't alone - and also that it probably said good things about her character, and the fact she was a true entrepreneur.

In general I find that entrepreneurs aren't some kind of hyper-intelligent geniuses, or blessed with amazing instincts - they simply seem to get more success because they try more stuff.

And in trying more stuff they take risks on things more easily. Where others would spend lots of time assessing risks, doing due diligence, interviewing the founders and so on (and often getting scared off by the slightest risk they uncover), the entrepreneurs will just go for it on gut feel.

That means they will have some failures - but they will also have more successes. They are also more likely to have bigger successes, since the riskier seeming projects often lead to bigger rewards if they work out.

So the Risk/Reward balance is alive and well - you have to take the risks to get the rewards. The bigger the risk, the bigger the rewards, and the more risks you take the more failures you get, but the more successes you get too - and that's what makes entrepreneurs successful.