The BS of "Don't put all your eggs in one basket"

RiverDave

RiverDave

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I swear if I see that one more time... It's the worst advice that every circled BHW.

Because that is precisely what you should do: Put all your efforts and concentration on one thing and one thing only.

If you split up your time and attention and try to do all those BHW ideas at once, you are going to achieve nothing. Zilch. Nada.

The minimum you should work on one idea is three months. And I mean minimum (!), and I mean work (!). Not some half-assed 1 hour a day. Make it your top priority and act accordingly.

Now, get your ass of BHW and learn by doing. You are not going to find the magic pill here that is going to make you filthy rich. You have to find that yourself by doing!
 
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I agree, but if you have something working, making you your income - don't just keep solely working on that. That's when you should diversify and strive to multiple sources of income. But 100%, and my game really took off, when you focus and commit to 100% one thing in IM.
 
The saying applies to investments. In that case you don't really work, you just let the money work for you. For this scenario I 100% advise you put in multiple projects.
 
Xdfffninja said:
Seems like you haven't experienced something known as "Google Updates"
Click to expand...

Oh, I have. But because I focused all my energy on one site and made this to one of the leaders in the niche it does not matter. You should aim for at least 5 figures/month and a 50% traffic drop doesn't matter.
 
it's not that easy. even if you go hard at one thing for 6 months, you can still fail. there is no guarantee, some things are just fail niches or extremely difficult to break into. you need to analyze that. otherwise you will just waste your time
 
I feel should be like one is manually working , like your site, even come autoblog or auto post , you still need to do some manual work , traffic as usual

than the other stuff so call another project should be auto means u don't care much or don't even do anything . This I only can think of forex bot " depend your bot , there are tons of forex bot out there " or cryptocurrency
stalking token etc

Drop shop too also consider auto, if you expert on Ad, got budget just let the ad run
beside manual do some marketing .
 
Nice!
I totally agree with you man, nice post.
People think that they are going to conquer the world by trying to excel at everything all at once. There is no easy path! And multitasking your way to success is only going to lead to failure.
Focus, Focus, Focus! You have to focus on that one great idea you have and be obsessed about it. That's the only way to reach success in whatever you do in life.
Great post man. What do you do btw? Send me a pm, maybe we can cooperate together, I love working with people with you attitude.
 
Not putting your eggs in one basket means also that don't invest your money in just one place.

Also this is a very contradictive topic,very difficult to say what is the right thing.
 
I think you took the saying too much at words. You should definitely master a method and invest all your time behind it until you are successful.

But when your project is running and making you money, you should start thinking on a different project to run beside it. So repeat process 1.

That is because, for some reason if your project 1 fails, all the time, effort you invested will lead you to ruins. So yes, don't put all your eggs in one basket. :)
 
alurosu said:
The saying applies to investments. In that case you don't really work, you just let the money work for you. For this scenario I 100% advise you put in multiple projects.
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Even for investments, it's not the right advice. Sure, if you're 60 and have 2 million go diversify. But if your in your 20's just put all your money in the one thing you have the most knowledge of. Like I put everything into Tesla at $200 after a lot of research.

You do not just diversify your losses. You also diversify your gains.
 
RiverDave said:
Even for investments, it's not the right advice. Sure, if you're 60 and have 2 million go diversify. But if your in your 20's just put all your money in the one thing you have the most knowledge of. Like I put everything into Tesla at $200 after a lot of research.

You do not just diversify your losses. You also diversify your gains.
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I can't agree with you. There is no sure investment. Anything can fail.

Age should not matter in this argument.
 
Well can you be successful at more than one thing at a time? If you can't, then your only option is to put all eggs in one basket.
 
Utter rubbish.

Don't put all your eggs in one basket is one of the most sound bits of advice to give to people.

One of my businesses is in the events industry and we have had to cancel all our conferences for this year and already cancelled for next year.

Luckily I have other businesses that ensure we have an income.

I've seen people rely just on CPA or Adsense, lose their accounts and have no money coming in.

If you don't have at least 2 income streams then go get a 9-5 job.
 
bartosimpsonio said:
Well can you be successful at more than one thing at a time? If you can't, then your only option is to put all eggs in one basket.
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You can outsource with money. You can buy skill.
 
It have different meaning with shiny gold syndrome. Don't put all your egg in one basket, mean after you success in one business, make different business. I have seen a lot of rich people bankrupt, because they put all their money in one business niche. It doesn't mean build your whole empire foundation at the same time. It's very big difference.
 
samifordnet said:
But when your project is running and making you money, you should start thinking on a different project to run beside it. So repeat process 1.
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If your project does not make you enough money to get rich and not have to start a second project. You have just chosen the wrong project. If you chose a niche like "lawnmower" it does not matter if you become number 1. You will always have to start another project and run after money.
 
Not putting all eggs in one basket - Simple layman explaination.

Focus on a particular project making you money ; Could your regular day job , a website , an app etc.

Diversify your income portfolio using savings from main source of income to generate more cash flow.
 
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RiverDave said:
I swear if I see that one more time... It's the worst advice that every circled BHW.

Because that is precisely what you should do: Put all your efforts and concentration on one thing and one thing only.

If you split up your time and attention and try to do all those BHW ideas at once, you are going to achieve nothing. Zilch. Nada.

The minimum you should work on one idea is three months. And I mean minimum (!), and I mean work (!). Not some half-assed 1 hour a day. Make it your top priority and act accordingly.

Now, get your ass of BHW and learn by doing. You are not going to find the magic pill here that is going to make you filthy rich. You have to find that yourself by doing!
Click to expand...

That's not what the saying means. You understood it wrong.
 
It's easy, you still think like a freelancer. Time = money. You need to shift towards an investment mindset.

You will only be free when you have time to do whatever you want.
 
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