One of the most dangerous traps an entrepreneur can fall into is to get unfocused and spread thin across too many things they can do. The old saying is a mile wide and an inch deep. An entrepreneur friend once told me that the venture capitalist that funded him made him see the wisdom of “focusing like the point of a pencil” to get one product to market, because entrepreneurs consistently underestimate how much energy and focus it takes to accomplish that feat.
“Our short-sightedness has led to major challenges — dependence on oil, climate change, health care, and national security — that threaten our economy and quality of life. Each challenge also brings opportunities — if we give innovation the attention it deserves.”