Diversification vs focus - the better you are, the less you diversify

Dec '21 in Other

If you are reading this you are probably really smart, hardworking and ambitious.

But for some reason, you are not satisfied with your results in your life.

That is perfectly if you can always become more successful in life

There are a lot of smart and hardworking people that are constantly arguing that you need to diversify your portfolio to have "balanced life and income" - I think that is true to some extent.

But...

99 % of Fortune 500 CEO have only one company - and there is Elon Musk (but if you are reading this, you are probably not Elon Musk )

It is hard to start a company, and it is even harder to make it into something worth telling working so hard, but it is worth it.

What is the solution to that dilemma?

I think you need to focus on ONE thing and become successful at first, and after you achieve what you want to achieve you can start including things back into your life.

By ONE thing I mean:

1 offer

1 Funnel

1 clients persona

1 acquisition method

1 sales script

As little employees as possible

Why ??

Isn't is better if I serve more clients, I will make more money right ???

Wrong.

Most of the results in life and in business come from compound impact and simplicity.

I recently have been talking with a friend of mine who has a 40k per month fitness business and is looking to scale it to 80k in the next 12 months. And he told me that he wants to start another carpet cleaning business, yes he was 100% serious LOL.

I just asked his a few questions to get him to focus:

Do you think that if you have focused all your attention on that fitness business, you can grow it to 80k?
What is the most important / valuable problem that you have solved in your life?
What is the biggest difficulty that you are facing right now in your business that is preventing your growth

?[li]All of these ideas, businesses can work in, which one you have unfair advantage?[li]To which idea, you can commit to give your all and commit into being the best in the world for at least 5-8 years?

We usually know what to do, we just do not do it :D

10 comments