Discussion in 'BlackHat Lounge' started by Pazalaza, May 2, 2013.
My thought of the day: Just One Thing at a time is the only way to achieve greatness
Your thoughts sound good in theory only...
Because very few have the surplus cash to support a single objective until it becomes profitable...
Most business professionals have a number of different revenue streams to ensure they get some revenue and spread the risk in case one or more fails...
So, for how long should I watch the basket until I get rich?
When you're getting started, working on several projects sounds good. However, the odds are against you. Many more people fail at creating a profitable online business than succeed. If you want to be one of the few who do succeed, you'll need that laser focus you develop when you have no other option. So, focus on one project at a time.
I think you misunderstood what the phrase "don't put all your eggs in one basket" means.
Of course you have to focus in the beginning and stick to one thing. You can't jump onto multiple things hoping that trying a bit of this and a bit of that will get you to success. It's once you reach success and you have something going for yourself that you should not relay on that one specific thing.
don't put all your eggs in one basket is an investment advice.
it's not telling you to work on 5 businesses altogether. That's totally different thing.
I think best strategy is to work only at one thing until it makes money --->then move to other and repeat the process and this way create multiple income sources. Having all eggs in one basket is really very bad idea and especially in IM when google, facebook, hackers...anyone can destroy or damage your business in few seconds. Also very bad idea is working on many projects simultaneously and starting new projects before finishing the old, that is what I do and I'm sure that it is the main reason I'm not rich yet, but I get very easily bored when working long time on just one thing
It's not a good idea, trust me!
Experience talks here...
OP half an hour later..
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