New Venture Lab: Equipping Christian Entrepreneurs

Question

How should I think about focusing my efforts when building out my operations?

Answer

I recommend that you focus on creating only those operational capabilities that are critical and strategic to your business and outsource everything else.  By doing this you are limiting the number of capabilities you need to invest in developing, you are focusing on developing only the most important capabilities that will differentiate your business and importantly you can tap into the efficiency of a much larger, scale efficient provider for the other operations.  One key question to ask yourself is: will this particular operation somehow differentiate me in the marketplace.  Think payroll.  Does it matter to your customer how you perform payroll?  If not, then outsource it to a large payroll provider that can do payroll far faster, cheaper and better than you can.