Startup Funding Espresso Circle of Competence
Circle of Competence Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Circle of competence is the area in which one has a skill or expertise. Tom Watson the founder of IBM once said, \u201cI\u2019m no genius.\xa0 I\u2019m smart in spots and I stay around those spots.\u201d You don\u2019t have to be an expert in everything to be successful. You do need to know a specific area and where the limits are. The founder needs to know their circle of competence and operate within it. Those who move to a new industry may find it challenging as their expertise no longer matches the domain. The more narrow the circle of competence, the deeper one can go into it. Founders and investors should assess their skills, experience, and what gives them an edge. Is the founder moving outside that area?\xa0 Will they have the same edge in the new domain? Some of the best deals to fund are those where the team\u2019s circle of competence covers the startup\u2019s domain completely. Investors reviewing a startup for investment should estimate the circle of competence of the founder.\xa0 \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .