Recently read an article written by Jeff Bussgang titled “In Over Your Head – The Life of an Entrepreneur”, was nodding to myself on each point that he brought up, no human being was borned to know US GAAP, or Trial Balances or Sales Management…etc. An entrepreneur on his 1st venture would not possibly have all the answers to everything but the solution should be to drop your ego and pride and to approach close associates, partners, friends etc for advice. Jeff mentioned using the 80/20 rule of control. As long as you’re 80% in control and 20% over your head, you’re ok. However, my point will be that you’ll need to apply the 80/20 rule on the 20% that is over your head. Where 80% of the time, you should look for external help and 20% of the time follow your instinct. This will be especially true during a company’s growth stage where a CEO’s single decision has tremendous consequences and repercussions on the business. What do you guys think?
When do we seek help as entrepreneurs
10 05 2008Comments : Leave a Comment »
Tags: 80/20, entrepreneur, over your head
Categories : Start Ups
