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Invention vs Acquisition

You don't have to build every facet of your business from scratch.

Invention vs Acquisition

The unique value that you create for your market, and the distinct brand that you build around it, doesn't exist anywhere else. These wheels need to be invented.

On the other hand, it's unlikely that your administrative systems and management controls warrant extreme divergence from established standards. Acquiring these ubiquitous wheels from someone who has already invented them will probably be good enough.

Many entrepreneurs are tempted to build every facet of their business from scratch. This is both unnecessary and risky, because it's impossible to predict with certainty how long it will take or how much it will cost. It also delays growth, because scaling without consistent and sustainable benchmarks is a gamble.

Growing a business may feel like invention, but a lot of it turns out to be unnecessary reinvention.

The alternative is acquisition: get what you need from someone who already has it.