So, a serious question for you:
Do you find yourself trying something new and exciting—a business model, strategy or tactic. Only, when you get it figured out and it starts actually working for you, you let yourself get distracted or bored and move on to the next bright, shiny “something”?
Well, if you find something that’s working well, why wouldn’t you focus on refining or scaling it, instead of diluting your focus by adding another new thing in on top of it?
This is one definition of an entrepreneur.
And it’s me.
Is it you?
If you’re reading this, it probably is. 🙂
But, why do we do this to ourselves?
We love starting businesses and making money, and then we just want to start something else…
But with this drive comes the struggle to stay focused.
I struggle with this for sure. It’s hard to stay focused.
We hang out with other successful investors and people and we see great opportunities… the wheels start turning… and we start thinking, I can do that, and that, and that…
—> STOP <—
You can only do 1 or 2 things at a time really well. Not more than that.
We need to be more focused. Me included.
A book that really helped me hone in on this and stay focused is The Pumpkin Plan by Mike Michalowicz.
Here’s the super-condensed premise…
From the pumpkin plant, farmers find the one pumpkin with the most promise. Then they cut off all the other branches and nurture only that one pumpkin to make it the best.
THAT’S THE POWER OF FOCUS.
What’s your one thing?
Step back, look at your opportunities and decide what your one giant, most promising pumpkin is.
Here’s another interesting way to think about it…
The sun has a bazillion watts of energy, yet we’re fine standing under it here on earth (minus the occasional sunburn). But if you take a magnifying glass and focus the sun’s light beams into a single point, you can make fire.
In fact, when those watts are concentrated into a laser beam—they can cut through steel and diamonds.
THAT’S THE POWER OF FOCUS.
We need to be a lot more focused. (You and I both)
To find where you should focus—where your sweet spot is—you simply need a combo of these 3 pieces:
- Who’s your ideal customers—who are the right buyers?
- Is the service or product you’re providing unique?
- Can you automate it?
Here’s what it looks like for my investing business:
- For me, my ideal customer is out-of-state cash buyers looking for turnkey rentals.
- I’m unique because I create turnkey properties with quality property managers and contractors built in.
- I have a team that’s automating all my marketing.
I’ve also applied the same sweet spot approach to my coaching business. (I love coaching!)
When I focus on my sweet spots—investing and coaching—I crush it.
Find and focus on your sweet spot, and you will too.
Two more good reads:
- The One Thing by Gary Keller and Jay Papasan
- Essentialism: The Disciplined Pursuit of Less by Greg McKeown
Stay focused, friends.