Should you stay focused on one business--or start many of them? In this ASK ANDY episode of The MFCEO Project, Andy Frisella tackles that question, as well as questions from a live Periscope broadcast. Laser focus can be the key to actual progress in your business. Joining him in the studio is his co-host Vaughn Kohler.
Pros and Cons of Laser Focus and Serial Entrepreneurialism
People get stuck in the planning zone instead of acting on those plans. That’s not what laser focus is—you do have to plan ahead, but you also can’t plan, and plan, and plan yourself into the ground. Especially if you are jumping from idea to idea. At some point, you have to buckle down and get to work.
The problem with serial entrepreneurialism is what Andy calls opportunity quicksand—when you don’t ever move from one spot because you instead focus on doing multiple things at the same time and end up burning out quickly.
You have to ask yourself: what’s the amount of energy I’m spending on all these different ideas?
Are you hopping from project to project, but never really getting anywhere? That can waste so much valuable time.
For most people, stick with what you know and focus on your one thing. That laser focus is going to keep pushing you forward and actually help you progress.
If you do want to try starting multiple projects, find a common thread that relates them all to each other so you can get the best of both worlds.
Listen to the full podcast to learn more about how to have laser focus for your business, how you can learn lessons about business with other things in your life, and the best way to hire people using your work culture.