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Our society has a number of phrases that paint a distinct picture of a sole proprietor. “Jack of all trades, master of none.” “It takes a village.” “No man is an island.” It’s not necessarily a pretty picture.
The fact is, a business—even a small one—needs many different skill sets to operate well. This is further illustrated by the fact that you can get full degrees for these various skills: marketing, finance, accounting, project management, etc. And those skills are just for the administrative overhead. If you are actually building something, especially a digital platform, the skills needed are even greater. Front end and back end developers, database specialists, cyber security, cloud architecture, UI/UX engineer, web designer, app designer, graphics artist, and more. If your platform is blockchain based, add in even more developers, along with a tokenomics expert.
Another interesting fact is, no one who has started a platform took the time to sufficiently master each of these skills before starting their business. Many have decided they would learn as they go. This is, in part, why so many businesses fail. Others have built teams based on their networks, getting team members who are capable (but not likely experts) in the various skill sets needed. Using one’s network is fine in that you already have relationships and trust built up. However, it also limits the level of skill you have to choose from.
So what are sole proprietors, and even small teams, supposed to do in order to give their big idea the best chance at success? Thankfully, there are some
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