Wednesday, July 23, 2008

Entrepreneurship is about getting someone else to do the work

One of the most important of Yeh's Laws of Entrepreneurship is simple but universal:Get someone else to do the work.

I'm not advocating laziness in entrepreneurs--entrepreneurship is hard work. But you have to realize that hard work is insufficient.

Even the most dedicated entrepreneur is hard-pressed to work more than 12 hours per day.

That's only 84 hours per week, assuming you never take a day off. And towards the end of those long days, I'll bet our workaholic entrepreneur would only be working at 50% effectiveness--or less.

In contrast, if you simply get three reliable people to work for you 40 hours per week, that's 120 hours of productive work, in addition to whatever you get done.

It often seems like young entrepreneurs think that working ridiculously long hours makes them morally superior. All it really makes them is tired.

Professionals work hard, but understand that the real key is figuring out how to get others to do the work.

2 comments:

Anonymous said...

Work smart rather than work hard?

Nice advice Mr Yeh, you seem to be advocating my favourite rule of business/ life.

Anthony Kuhn said...

Passive revenue can be your path to entrepreneurial (and financial) success. Thanks for jumping on the dogpile to add your weight to the argument in favor of sharing the burden of making it happen.