I find that many entrepreneurs are trying to do everything when it would be cheaper and more time-efficient to delegate, even if there are monetary costs associated with that.
Sentiment: NEGATIVE
I've felt a little culpable that we entrepreneurs often invent businesses just to drive people to buy more things.
When you build relationships with entrepreneurs, they're not trying to optimize on price.
The classic problem as an entrepreneur is that they have a hard time delegating. But that's really crazy. Recruiting other executives is critical, so is dealing with customers and dealing with regulators. Those are functions that only the top founders can do.
Entrepreneurs are like visionaries. One of the ways they run forward is by viewing the thing they're doing as something that's going to be the whole world.
Very, very few entrepreneurs who accept a 51 percent partner in a new venture will get rich if they are also expected to run it. Control is mandatory.
I think, at the end of the day, you have to reduce friction to businesses, ideally to zero, so that more and more entrepreneurs can create more and more jobs with higher and higher disposable income.
It's the combination: big idea with a good entrepreneur: there's nothing more powerful.
True entrepreneurs have to really forego almost everything; they have to put it all on the line.
I like the strategy of finding great entrepreneurs early, giving them some money, helping them a little - perhaps not as much as we would a regular core investment.
The problem with entrepreneurship is we are often working really hard producing high quality products that no-one wants. The creation of stuff is not valued.
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