Congratulations to Peng, who was chosen as one of the 50 accomplished alumni for the University of Illinois at Urbana-Champaign's 50th anniversary celebration!
Peng on his time at UCIC:
My biggest learning was being comfortable with questions which I know I'll probably never have answers to, and with questions I don't have answers to but can (easily) find out... and knowing the difference between the two types of questions.
Important and inspiring life lesson.
One challenge many first-time entrepreneurs have difficulties over-coming is delegation. All CEOs and founders feel responsible -- responsible for themselves, their company, and employees. Knowing how and what to effectively delegate, separates a good leader from a great leader.
Being scrappy and scrambling to execute is part of being an entrepreneur but no matter how smart and resourceful you are, there are times one has to let-go and trust in the people around you to help you with.
Identifying what you realistically can or can not do, starts with the difficult task of asking yourself: Can I (easily) do this? to make time for the work that matters. Once you are able to be honest with yourself, not only are you more productive, you will become a better leader.
Here is a good article on Harvard Business Review on eliminating or delegating unimportant tasks and replacing them with value-added ones.