What It's About
Today's listener has a lot of ideas. Where should they put their focus?
Notes from Chris
Episode 1915
It’s a classic case of focus vs. diversification: how many projects can you work on at once? Should you go deep or go wide? Over the years I’ve noticed that most side hustlers struggle with this in one way or another, or even if they don’t struggle, they still face decisions about choosing between different ideas or just where to put their attention. I tend to disagree with most hard-and-fast advice over this question. I’d never say “You must choose only one business idea at a time”—but I also understand the real risks and costs associated with not focusing at all. Today’s caller has a dilemma around this topic. They have three independent ideas and aren’t sure whether they should eliminate any of them. What should they do—or how can they make the best decision?"I've made this my year of the hustle, and I'm working on three independent ideas. These ideas don't compete with each other for the most part, and they can each by done according to whatever schedule I set. That said, even though I'm excited about each idea and they don't really conflict, I'm worried I won't be able to give my all to each of them. My question is: should I drop two of them to focus more intensely on one? Or maybe split the difference and drop one, so that there's just two? It's tricky because I'm not relying on these projects for income right now, but I want to be able to do that in the near future. That's why I had three ideas and thought it would be good to spread the risk and potential profit around."Listen to today's episode to learn more...
SEE ALSO:
- Resourceful College Dropout Earns Two Paychecks from One Employer: A corporate employee takes charge over a new branch of the company he works at and ends up creating a second income for himself. Don’t fire your boss… get them to pay you twice!
- Hungry, Hungry Hustlers Earn $25,000/Month Selling Paleo Bars: Frustrated by the lack of real food bars devoid of added sugar and weird ingredients they couldn’t pronounce, two hungry fitness enthusiasts create their own tasty paleo bars and hustle their way to multiple six-figures.
- Teacher Makes Money Asking Questions Outside the Classroom: A West Virginia high-school teacher hosts trivia night for extra income—then earns a share for other hosts who use his equipment.
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