At the same time , economists have argued that entrepreneurs should not simply act on all advice given to them , even when that advice comes from well - informed sources .
Entrepreneurs possess far deeper and richer local knowledge about their own firm than any outsider .
At the same time , economists have argued that entrepreneurs should not simply act on all advice given to them , even when that advice comes from well - informed sources , because entrepreneurs possess far deeper and richer local knowledge about their own firm than any outsider .