One cannot be unmindful of risk. Those with family money know they can afford the risk. It is really that simple.
I started a venture, and assessed the status after a period, and had kept a stop loss for how much I can afford to lose. I closed at the limit and shut it down.
I must of course mention that business schools teach you to a project feasibility report first and then proceed. But quite often, I suspect, misguidance and insincere encouragement makes one launch a project without a strict and impassioned appraisal. 
K.Seshadri