For every dot-com that's spending venture capital like Monopoly money, there are thousands of others that die for lack of cash. It's nowhere more true than in business. Nothing is more dangerous than complacency. Constantly anticipate your customers' changing needs, or your business is doomed to fail. The days of the all-purpose CEO are over.
Business is too tough, and the changes too fast, for one person to know all the answers.
So focus on what you do best and build a network of experts to help you do the rest. The days of slow decisions are also gone. I talked to an executive recently who'd wanted to hire a hot employee. Whenever you examine a business opportunity, you need to sniff around on two fronts. First you want to examine the business and make sure it's up to snuff.