resource

Economic or productive factor required to accomplish an activity, or as means to undertake an enterprise and achieve desired outcome. Three most basic resources are land, labor, and capital; other resources include energy, entrepreneurship, information, know how, management, and time.

You may know how to design a widget, but not know a thing about running an efficient manufacturing plant. Apple designs and markets its nifty iPods and iPhones, but lets someone else slap them together. Countless Webpreneurs farm out the design of their sites and back-office payment systems. Wasting resources just to be mediocre is suicide. Stick to core competencies and find trusted partners to handle the rest.

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