Business Lesson: Just because we could, doesn’t mean we should
Just because we could do something, does not mean we should do something (It’s kind of like that guy, in class who always raises his hand). It sounds so obvious yet it amazes me how many times we repeat this mistake over and over again.
Whenever there’s a great idea, we work with extremely talented people who can preform multiple roles. I can say from experience, that just because I can design doesn’t mean I should be the designer; just because I can develop doesn’t mean I should be the developer, etc etc.
Because of his/her skill set, an entrepreneur is is well-suited to wear many hats. I tell this to people so often they are probably rolling their eyes while reading this.
I almost want to say that the entrepreneur’s dilemma is wearing too many hats. To clarify, micromanaging is every entrepreneur’s fatal flaw. He/she feels compelled to hold on to every part of the operation. When I was in college I ran the student media conglomerate (Slope Media) that I started very inefficiently, because I tried to control all the processes.
Since we are young, we feel that we can always take on infinite projects by simply working longer and harder. However, at the end of the day, working infinitely results in the ultimate sacrifice: complete loss of time. Time to plan, time to focus, and time for self-reflection. You can’t raise time from a venture capitalist no matter how many times you pitch.
The ability to create more time then almost becomes more valuable than the ability to create more capital. Focusing one’s time on bringing in new business or growing an existing business is ia highly sought after assets that can’t be raised.
Good resources on entrepreneurship:
- Guy Kawaski – http://www.guykawasaki.com/
- Tim Ferris – http://www.fourhourworkweek.com/
Earlier this week, Jonny wrote a blog post on the topic of group/small business collaboration tools. These are some of the vehicles we are starting to implement in our business processes and procedures to not only work more efficiently as an organization, but to create more time to grow and create new business opportunities. (Read the article on wiggio, google docs, deskaway and basecamp)
Today, we put up another post about jobs. We are asking you the reader, our friends, our family to refer talented people to help us learn from our mistakes of the past. Instead of wearing many hats (and leaving the office every day at 3am) we are trying to define our processes and procedures to scale, even if it means letting go a little.
If you have any input, suggestions or resources, feel free to give us feedback by leaving a comment or sending us a tweet @pluURL
