You cannot know it all

Hello friends, I created this blog because I wanted to share with like-minded people about what I learn from entrepreneurship. However this is not intended to be a series of lectures and notes that you can get much more comprehensive materials from various sources. Humbly this is only meant to be a sharing of personal learning that I gathered through my readings, observations and experiences. It meant to be brief and hopefully this would also inspire some to venture into something that they believe in or passionate about.....something ventured, something gained...whether in monetary form or life experiences.

As an entrepreneur, one needs to be aware that he cannot know it all. There are just too many roles and functions that needs to be fulfilled. Hence there is a need to have an entrepreneurial team to support the venture. In fact even if one can know it all, it is still not advisable to do them all. The law of comparative advantage tells us that we should focus on doing what we are most efficient at (which logically translate into lower cost for that task, and if we are an entrepreneur, we should be spending time building the business and talking to customers!) and delegate or engage others to those task that we do not have a cost or benefit advantage. Successful entrepreneurs do this very well. As one very successful entrepreneur says, an entrepreneur is like a F1 driver and his primary task is to drive (and drive as well as he possibly could) while leaving the rest of the car and maintenance support to his crew. In this way he increases his winning probability ............to be a champion!

Going forward in each of my blog update I will also be indicating under a header "Looking Out" on some of the opportunities that I come across that may benefit some of you. Have a look at it. Here it goes for this first blog..

Looking Out:

- investor who is interested in bio tech business
- professional marketers in technology equipments
- knowledgeable person who like to exchange thoughts on cutting technology


Catching up the next time
KH