Everyone has 3 or 4 careers going simultaneously nowadays. The problem is nobody will keep that lots of balls in the air simultaneously. If you don’t concentrate on holding onto one, eventually you’re likely to drop all of them.
That’s fine in the event that you don’t mind slugging it out with the competitive masses and living hand to mouth on slim profits, if any. But in the event that you aspire to be considered a successful entrepreneur, the only method you’re going to make that happen is by concentrating on one thing and carrying it out better than other people.
I was recently counseling a software developer. He previously several home based business ideas but every one of them have been done before. He could tell me what he wished to do and name similar sites but he couldn’t tell me how his ideas were different, how he would come out at the top. No wonder he couldn’t decide which to spotlight.
In a recently available Wall Street Journal essay, venture capitalist and PayPal cofounder Peter Thiel says, “If you wish to create and capture lasting value, turn to create a monopoly.” He says entrepreneurs should ask themselves, ‘What valuable company is nobody building?’ This question is harder than it looks." He’s right. Most startup founders and CEOs never develop the proper answer.
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The only method to reach your goals is by determining what you’re best at and concentrating on that. It’s true for every and all of us and every company regardless of how big it really is.
In a recently available interview with Charlie Rose, Apple CEO Tim Cook said that “[striving] to be the very best, for only doing the very best products, for staying focused” was a core principle that Steve Jobs instilled in the business. He said he could put every product the business ships today on a little table. And Apple’s sales will be about $180 billion this season.
“It’s easy to include. It’s hard to edit. It’s hard to remain focused. And yet we realize we’ll only do our best work if we stay focused,” he said. “So the hardest decisions we make are the things Never to work on. There are many things we’d prefer to work on that people have interest in but we realize what we can’t do everything great.”
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To further the idea, Sony just surprised Wall Street with news that it’ll lose a lot more than $2 billion this season. JAPAN giant’s much-talked-about turnaround is once more faltering. The problem is that Sony can’t master being truly a global entertainment and gadgets company concurrently. There are simply just no synergies between your two.
Another exemplory case of companies that spread themselves too thin is Yahoo. Brad Garlinghouse, a senior vice president at the floundering Internet company, penned an interior memo that had become referred to as the Peanut Butter Manifesto wherein he tried to convince fellow Yahoos that the business lacked cohesive vision and focus, that it had been trying to be way too many things to way too many people.
Of course he was right. Eight years and five, maybe six CEOs later (it’s hard to keep track), the business is still fighting the same problem.
Dating back to I could remember I’ve been counseling companies and people to spotlight what they’re best at. If you’re still trying to find that out, don’t let a few false starts get you down. It’s an excellent sign that you’re at least putting yourself out there. In the event that you put all of your wood behind one arrow at the same time and make it count, ultimately you will hit the bulls-eye. One thing’s for certain; it’s a whole lot smarter than understanding how to juggle.
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