Investment and trust gears If your business is going to succeed, you have to hire people you trust, delegate everything that isn’t an essential part of your role as the CEO, and stay focused on growing your business.

What do most first-time entrepreneurs think is the key to success? A good idea.

In my opinion, less than 10 percent of a business’s ultimate success comes from the idea—it’s merely the starting point of the whole venture. The vast majority of success, the other 90 percent comes from great execution and usually a little luck too. Great execution certainly starts with the founder’s hard work, but to really succeed a business requires a team of great people and a culture to support and retain them.

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