How does one focus on core competency whilst managing the company itself?

I would like to know how can an one focus on the core competency on which the company is based and relies on when there are just too many things that you need to take care of during managing a business?

Hiring is one thing, of the guys best suitable for the job to handle that aspect but as a startup you end up taking a lot of responsibilities on yourself. How can one more effectively tackle this?

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Your query has triggered an interesting dilemma.

The core competency should be the base idea/ideas which had made a person an entrepreneur. My thought on viewing your query was, a company would soon diverge into other related streams which could / could not be related to the core idea. The reasons could be, slow market for your core idea, late implementations and executions of plans, financial survival or anything.

Hiring and administration are part of the game, cannot be avoided, can't be prostrated. It is the life during and after which decides the future.

But sooner or later the start-up will diverge, it has too, i believe. 

How do we keep a balance between the core idea/ideas and the later on acquired activities is essential. Any suggestions?

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