The four tiers of engagement: What Silicon Valley taught me about collaboration and time management, by Reid Hoffman
Rich Hua stashed this in Productivity
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Being a Principal is a serious commitment:
When you commit to functioning as a principal, you essentially say, "I own this, and it's my responsibility to bring this endeavor to fruition." You're involved on a daily basis. You may have contributed your own assets. You probably have or at least are in the process of recruiting and thus managing employees. You're responsible for the active management of whatever resources define the entity or project.