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Definition

Conventional wisdom says that the person who spawns the idea could struggle in actually managing the launch. The key to assessing management competence is the ability of you, the idea person, to realistically acknowledge your shortcomings and assess your management skills. Are you up to the tasks? This element is also slightly premature in these very earliest moments of the idea’s existence. How can anyone tell what your competence will be? But it is a useful reminder of how important management competence will become when capital is discussed with prospective investors. Can your team reach its objectives in a timely fashion? How confident are you with being at the helm? If you acknowledge your shortcomings now, when is it that you expect to “get out of the way?” Or can you repackage and retrain yourself so that you are up to the job in the longer term?


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