Two definitions/phrases that I often use in talking about and meeting with entrepreneurs:
box canyons: Successful entrepreneurs are skilled at racing hard at brick walls. There is, after all, no point in parcelling out capital slowly to try and stay alive for ten years, as opposed to fighting hard for three and either succeeding or failing. But being unafraid of brick walls is altogether different from racing into a box canyon. It’s one thing to have a known constraint — usually capital — ahead; it’s quite another to leave yourself in a place surrounded by unscalable walls.
low saves: Some entrepreneurs are overly fond of taking their company to the brink of disaster, only to to dig it out again with a last-minute finance, or a crucial hire. While it can be huge fun, and sometimes necessary, it’s a dangerously addictive instinct, one on which some entrepreneurs become reliant. (It comes from paragliding, where veterans often see how low they can go and still find enough lift to get back up to the proper altitude. It’s a rush, but you must never forget that the ground is not very forgiving.)