A person was asking me today if I had experience in certain types of business and investments as they were interested in exploring new ways to make money. While that I good, what was a little concerning is that they actually just recently started another project which seems to be working and they haven’t even realized its full potential. Imagine opening a retail store where for about a few months you experience some moderate success and now they person is interested in opening other businesses like a restaurant.
This is really common for the digital age I find where people don’t actually focus in fully building one business first as the barrier to entry for a lot of things is low to the point where there doesn’t seem to be much consequence for not focusing on one thing. Of course, the downside is you are taking your time and energy away from something that is working and it is not ready to conduct business on its own without you being there.
It’s good to diversify, but treat your existing projects like your child I say in the sense of you need to help it grow until it is self sustainable before being able to just focus on other things. Especially if it is generating positive results currently as you don’t want to forget to water the plant and have it die after all that work.