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Does risk of failure create a heady excitement in your head?

Met Anu Acharya for lunch last week at San Francisco's delightful Taj Campden Place. Classy ambience, wonderful food and meaningful conversation. What a wonderful feeling to be talking to someone who you feel enjoys exploring the risks that make you excited in anticipation as well!
What is it about risk taking that is such a challenge that evokes such excitement in entrepreneurs like me? How do we enjoy mitigating these risks in our business plan? If we are taking risks, are we not making a venture more difficult to execute? And how are we balancing the risk against the viability of the venture.
For most new entrepreneurs, the excitement in recreating or filling in a space that either exists or does not exist, much outweighs the opportunity that they perceive. But what is the real risk in an entrepreneurship venture is an idea not well thought out. And a bigger risk may be the inability to execute the venture. Taking a viable idea and bringing it to its fruition is the biggest challenge in any venture. And as a serial entrepreneur, I may add, this work never ends. If you are not prepared to take the challenge to accept the risk of failure, dont start that venture. 

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