What Can Current Events Teach Entrepreneurs?
As we look at current events, the pending collapse of the Greek economy is at the forefront as the leaders of the top economies meet at the G-20 conference in France. There are economists who say “what’s the big deal? Greece has defaulted on their debt before, many times.”
Well, there is a difference this time. Greece is a member of the European Union. And as with any union, partnership or collaboration, a stumble by one member can potentially destroy the whole.
What can entrepreneurs learn from this? Do not be shy about vetting those candidates for your team. You have an idea that is like a child to you. Would you trust your child with the person sitting beside you? She may be great at coding, but does she understand basic budgeting and financial responsibility? Or is she carrying $60,000 in credit card debt? He may be a business negotiator extraordinaire but did he get fired from his last job amid allegations of ethical improprieties?
Building a team encompasses the most important decisions an entrepreneur can make. Use the care and caution that those decisions warrant.